Pitcairn Co. Cuts Holdings in Deckers Outdoor Corporation $DECK

Pitcairn Co. reduced its holdings in Deckers Outdoor Corporation (NYSE:DECK) by 58.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,496 shares of the textile maker’s stock after selling 4,826 shares during the quarter. Pitcairn Co.’s holdings in Deckers Outdoor were worth $354,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of DECK. Rakuten Securities Inc. boosted its holdings in shares of Deckers Outdoor by 45.5% in the 2nd quarter. Rakuten Securities Inc. now owns 320 shares of the textile maker’s stock valued at $33,000 after purchasing an additional 100 shares during the last quarter. Perigon Wealth Management LLC increased its holdings in shares of Deckers Outdoor by 4.3% during the 3rd quarter. Perigon Wealth Management LLC now owns 2,597 shares of the textile maker’s stock worth $263,000 after buying an additional 106 shares during the last quarter. American National Bank & Trust raised its position in shares of Deckers Outdoor by 77.4% in the 3rd quarter. American National Bank & Trust now owns 243 shares of the textile maker’s stock worth $25,000 after buying an additional 106 shares during the period. RB Capital Management LLC boosted its holdings in Deckers Outdoor by 1.0% in the third quarter. RB Capital Management LLC now owns 10,679 shares of the textile maker’s stock valued at $1,083,000 after acquiring an additional 110 shares during the last quarter. Finally, Miracle Mile Advisors LLC grew its position in Deckers Outdoor by 2.3% during the third quarter. Miracle Mile Advisors LLC now owns 4,990 shares of the textile maker’s stock valued at $506,000 after acquiring an additional 112 shares during the period. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

Deckers Outdoor Stock Performance

DECK opened at $104.24 on Monday. Deckers Outdoor Corporation has a 1-year low of $78.91 and a 1-year high of $133.43. The company has a 50-day moving average of $109.06 and a 200-day moving average of $103.20. The company has a market capitalization of $14.80 billion, a P/E ratio of 14.72, a PEG ratio of 2.38 and a beta of 1.15.

Deckers Outdoor (NYSE:DECK) last released its earnings results on Thursday, January 29th. The textile maker reported $3.33 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.56. The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.87 billion. Deckers Outdoor had a return on equity of 41.60% and a net margin of 19.46%.Deckers Outdoor’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business posted $3.00 EPS. As a group, sell-side analysts expect that Deckers Outdoor Corporation will post 5.89 earnings per share for the current fiscal year.

Insider Activity at Deckers Outdoor

In other Deckers Outdoor news, Director Lauri M. Shanahan sold 4,682 shares of the business’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $114.84, for a total transaction of $537,680.88. Following the completion of the sale, the director owned 25,026 shares in the company, valued at $2,873,985.84. The trade was a 15.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Robin Spring-Green sold 347 shares of the business’s stock in a transaction on Friday, February 13th. The shares were sold at an average price of $113.78, for a total transaction of $39,481.66. Following the sale, the insider owned 42,461 shares of the company’s stock, valued at approximately $4,831,212.58. The trade was a 0.81% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 9,092 shares of company stock valued at $1,048,552. Corporate insiders own 0.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Sanford C. Bernstein set a $90.00 price objective on Deckers Outdoor in a report on Friday, January 30th. Needham & Company LLC lifted their price target on shares of Deckers Outdoor from $115.00 to $138.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Stifel Nicolaus increased their price objective on shares of Deckers Outdoor from $117.00 to $140.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Jefferies Financial Group raised their target price on shares of Deckers Outdoor from $102.00 to $105.00 and gave the company a “hold” rating in a research note on Tuesday, January 27th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Deckers Outdoor in a research report on Wednesday, January 21st. Three investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating, nine have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Deckers Outdoor has an average rating of “Moderate Buy” and a consensus price target of $125.20.

Deckers Outdoor Profile

Deckers Outdoor Corporation is a global designer, marketer and distributor of footwear, apparel and accessories. The company’s product portfolio includes well‐known brands such as UGG, HOKA, Teva, Sanuk and Koolaburra by UGG, spanning a range of lifestyle, performance and outdoor categories. Deckers leverages a blend of proprietary manufacturing, strategic brand storytelling and direct‐to‐consumer retail to serve both fashion‐focused and performance‐oriented customers.

Founded in 1973 by Doug Otto and Karl F.