Congress Asset Management Co. Has $78.37 Million Stake in Deckers Outdoor Co. (NYSE:DECK)

Congress Asset Management Co. lowered its position in Deckers Outdoor Co. (NYSE:DECK - Free Report) by 7.2% during the first quarter, according to its most recent filing with the SEC. The firm owned 700,922 shares of the textile maker's stock after selling 54,777 shares during the period. Congress Asset Management Co. owned 0.46% of Deckers Outdoor worth $78,370,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Deckers Outdoor by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 17,639,783 shares of the textile maker's stock worth $3,582,464,000 after purchasing an additional 229,807 shares during the period. Geode Capital Management LLC lifted its position in shares of Deckers Outdoor by 1.1% during the 4th quarter. Geode Capital Management LLC now owns 4,104,954 shares of the textile maker's stock valued at $831,723,000 after acquiring an additional 45,035 shares during the period. Norges Bank acquired a new position in shares of Deckers Outdoor during the 4th quarter valued at $392,583,000. Northern Trust Corp lifted its position in shares of Deckers Outdoor by 13.9% during the 4th quarter. Northern Trust Corp now owns 1,581,702 shares of the textile maker's stock valued at $321,228,000 after acquiring an additional 192,469 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Deckers Outdoor by 11.4% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,423,149 shares of the textile maker's stock valued at $289,027,000 after acquiring an additional 145,794 shares during the period. Institutional investors and hedge funds own 97.79% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on DECK. Telsey Advisory Group downgraded shares of Deckers Outdoor from an "outperform" rating to a "market perform" rating in a research report on Friday, May 23rd. Barclays reiterated an "overweight" rating and set a $128.00 target price (down previously from $129.00) on shares of Deckers Outdoor in a research report on Thursday, May 22nd. Needham & Company LLC set a $150.00 target price on shares of Deckers Outdoor and gave the company a "buy" rating in a research report on Wednesday, May 21st. Stifel Nicolaus dropped their target price on shares of Deckers Outdoor from $185.00 to $127.00 and set a "hold" rating on the stock in a research report on Thursday, April 10th. Finally, Evercore ISI reiterated an "in-line" rating and set a $110.00 target price (down previously from $235.00) on shares of Deckers Outdoor in a research report on Friday, May 23rd. Thirteen analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Deckers Outdoor currently has a consensus rating of "Moderate Buy" and a consensus target price of $134.68.

Insider Activity at Deckers Outdoor

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

Deckers Outdoor Price Performance

NYSE DECK opened at $109.29 on Friday. Deckers Outdoor Co. has a 1 year low of $93.72 and a 1 year high of $223.98. The firm has a market cap of $16.33 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 1.68 and a beta of 1.02. The company has a fifty day moving average price of $112.31 and a 200-day moving average price of $153.35.

Deckers Outdoor (NYSE:DECK - Get Free Report) last posted its earnings results on Thursday, May 22nd. The textile maker reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.43. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. Deckers Outdoor had a net margin of 19.14% and a return on equity of 41.71%. The business's revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.82 EPS. On average, research analysts anticipate that Deckers Outdoor Co. will post 5.89 EPS for the current fiscal year.

Deckers Outdoor announced that its board has approved a stock buyback plan on Thursday, May 22nd that allows the company to buyback $2.25 billion in outstanding shares. This buyback authorization allows the textile maker to repurchase up to 11.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's leadership 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.

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