Cetera Investment Advisers Decreases Stock Holdings in Deckers Outdoor Corporation (NYSE:DECK)

Key Points

• Cetera Investment Advisers has reduced its holdings in Deckers Outdoor Corporation by 19.2%, owning 37,042 shares valued at $4,142,000 after selling 8,788 shares in the 1st quarter.
• Wall Street analysts have mixed opinions on Deckers, with target prices ranging from $100 to $145, showing a generally positive outlook despite one analyst recommending a sell.
• Deckers Outdoor Corporation reported a 16.9% year-over-year increase in revenue, with earnings per share of $0.93 for the latest quarter, surpassing consensus estimates by $0.25.

Cetera Investment Advisers cut its stake in shares of Deckers Outdoor Corporation (NYSE:DECK - Free Report) by 19.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,042 shares of the textile maker's stock after selling 8,788 shares during the quarter. Cetera Investment Advisers' holdings in Deckers Outdoor were worth $4,142,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Marks Group Wealth Management Inc raised its position in Deckers Outdoor by 15.4% in the 1st quarter. Marks Group Wealth Management Inc now owns 62,902 shares of the textile maker's stock valued at $7,033,000 after buying an additional 8,410 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Deckers Outdoor by 17.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 17,864 shares of the textile maker's stock valued at $1,997,000 after acquiring an additional 2,706 shares during the last quarter. Park Avenue Securities LLC boosted its position in Deckers Outdoor by 32.3% in the first quarter. Park Avenue Securities LLC now owns 26,929 shares of the textile maker's stock worth $3,011,000 after purchasing an additional 6,569 shares during the last quarter. Principal Financial Group Inc. grew its stake in Deckers Outdoor by 17.7% in the 1st quarter. Principal Financial Group Inc. now owns 587,747 shares of the textile maker's stock valued at $65,716,000 after purchasing an additional 88,179 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in shares of Deckers Outdoor during the 1st quarter valued at $493,000. Institutional investors own 97.79% of the company's stock.

Analysts Set New Price Targets

DECK has been the topic of several recent research reports. Telsey Advisory Group restated a "market perform" rating and set a $120.00 target price on shares of Deckers Outdoor in a research report on Friday, July 25th. Argus started coverage on shares of Deckers Outdoor in a report on Friday, June 13th. They issued a "hold" rating for the company. Needham & Company LLC reissued a "buy" rating and set a $128.00 price target (up from $120.00) on shares of Deckers Outdoor in a research report on Wednesday, July 23rd. TD Securities upped their price target on shares of Deckers Outdoor from $150.00 to $175.00 and gave the stock a "buy" rating in a research note on Tuesday, May 20th. Finally, KGI Securities raised shares of Deckers Outdoor to a "hold" rating in a report on Monday, May 26th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Deckers Outdoor presently has an average rating of "Hold" and an average target price of $137.50.

Insider Buying and Selling at Deckers Outdoor

In other Deckers Outdoor news, Director Maha Saleh Ibrahim sold 300 shares of the business's stock in a transaction on Friday, June 6th. The shares were 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. The trade was a 2.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Angela Ogbechie sold 6,244 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $103.89, for a total value of $648,689.16. Following the completion of the sale, the insider owned 19,980 shares in the company, valued at approximately $2,075,722.20. This represents a 23.81% decrease in their position. The disclosure for this sale can be found here. 0.40% of the stock is owned by corporate insiders.

Deckers Outdoor Trading Down 0.2%

NYSE:DECK traded down $0.26 during mid-day trading on Wednesday, hitting $105.65. The stock had a trading volume of 1,722,496 shares, compared to its average volume of 4,573,915. Deckers Outdoor Corporation has a twelve month low of $93.72 and a twelve month high of $223.98. The stock has a 50-day simple moving average of $105.00 and a two-hundred day simple moving average of $124.26. The company has a market capitalization of $15.67 billion, a PE ratio of 16.20, a PEG ratio of 4.04 and a beta of 0.99.

Deckers Outdoor (NYSE:DECK - Get Free Report) last released its quarterly earnings results on Thursday, July 24th. The textile maker reported $0.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.68 by $0.25. Deckers Outdoor had a return on equity of 40.49% and a net margin of 19.42%. The firm had revenue of $964.54 million for the quarter, compared to analyst estimates of $901.45 million. During the same quarter last year, the company posted $4.52 earnings per share. The business's revenue was up 16.9% on a year-over-year basis. Sell-side analysts predict that Deckers Outdoor Corporation will post 5.89 EPS for the current fiscal year.

Deckers Outdoor announced that its board has approved a stock repurchase plan on Thursday, May 22nd that allows the company to repurchase $2.25 billion in shares. This repurchase authorization allows the textile maker to reacquire up to 11.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's board of directors believes its shares are undervalued.

Deckers Outdoor Company Profile

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.