Bank of New York Mellon Corp Sells 53,960 Shares of Deckers Outdoor Corporation (NYSE:DECK)

Bank of New York Mellon Corp reduced its position in shares of Deckers Outdoor Corporation (NYSE:DECK - Free Report) by 5.2% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 989,236 shares of the textile maker's stock after selling 53,960 shares during the quarter. Bank of New York Mellon Corp owned 0.65% of Deckers Outdoor worth $110,606,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Mpwm Advisory Solutions LLC acquired a new stake in Deckers Outdoor during the 4th quarter worth about $26,000. Headlands Technologies LLC acquired a new stake in shares of Deckers Outdoor during the 4th quarter worth about $29,000. Vega Investment Solutions acquired a new position in shares of Deckers Outdoor in the 4th quarter valued at $29,000. Whittier Trust Co. of Nevada Inc. lifted its position in Deckers Outdoor by 250.0% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 168 shares of the textile maker's stock worth $34,000 after acquiring an additional 120 shares during the period. Finally, Fourth Dimension Wealth LLC acquired a new stake in Deckers Outdoor in the fourth quarter valued at $41,000. Institutional investors own 97.79% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on DECK shares. Wells Fargo & Company lowered their target price on shares of Deckers Outdoor from $120.00 to $100.00 and set an "equal weight" rating on the stock in a research note on Friday, May 23rd. Stifel Nicolaus lowered their price target on Deckers Outdoor from $185.00 to $127.00 and set a "hold" rating on the stock in a research report on Thursday, April 10th. Telsey Advisory Group cut shares of Deckers Outdoor from an "outperform" rating to a "market perform" rating in a research note on Friday, May 23rd. Robert W. Baird lowered their price objective on shares of Deckers Outdoor from $160.00 to $140.00 and set an "outperform" rating for the company in a research report on Friday, May 23rd. Finally, KeyCorp reaffirmed a "sector weight" rating and set a $150.00 price target on shares of Deckers Outdoor in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $137.66.

Deckers Outdoor Stock Performance

NYSE DECK opened at $104.84 on Thursday. The company has a market cap of $15.67 billion, a PE ratio of 16.53, a P/E/G ratio of 6.40 and a beta of 0.99. The firm's 50 day moving average price is $110.74 and its 200-day moving average price is $138.26. Deckers Outdoor Corporation has a 52-week low of $93.72 and a 52-week high of $223.98.

Deckers Outdoor (NYSE:DECK - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The textile maker reported $1.00 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.43. Deckers Outdoor had a net margin of 19.49% and a return on equity of 41.17%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the firm earned $0.82 EPS. Deckers Outdoor's quarterly revenue was up 6.5% on a year-over-year basis. On average, analysts forecast that Deckers Outdoor Corporation will post 5.89 earnings per share for the current fiscal year.

Deckers Outdoor declared that its Board of Directors has authorized a stock repurchase plan on Thursday, May 22nd that authorizes the company to buyback $2.25 billion in outstanding shares. This buyback authorization authorizes the textile maker to repurchase up to 11.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its shares are undervalued.

Insider Transactions at Deckers Outdoor

In other news, Director Cindy L. Davis bought 1,825 shares of the company's stock in a transaction that occurred on Friday, June 6th. The shares were purchased at an average price of $109.76 per share, for a total transaction of $200,312.00. Following the acquisition, the director directly owned 13,340 shares of the company's stock, valued at $1,464,198.40. The trade was a 15.85% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Maha Saleh Ibrahim sold 300 shares of the stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $109.08, for a total transaction of $32,724.00. Following the sale, the director directly owned 10,681 shares in the company, valued at approximately $1,165,083.48. This represents a 2.73% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.40% of the company's stock.

About Deckers Outdoor

Deckers Outdoor Corporation, together with its subsidiaries, designs, markets, and distributes footwear, apparel, and accessories for casual lifestyle use and high-performance activities in the United States and internationally. The company offers premium footwear, apparel, and accessories under the UGG brand name; footwear, apparel, and accessories for ultra-runners and athletes under the HOKA brand name; and sandals, shoes, and boots under the Teva brand name.

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