Woodline Partners LP Trims Stock Position in Deckers Outdoor Co. (NYSE:DECK)

Woodline Partners LP decreased its position in shares of Deckers Outdoor Co. (NYSE:DECK - Free Report) by 91.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,708 shares of the textile maker's stock after selling 68,209 shares during the period. Woodline Partners LP's holdings in Deckers Outdoor were worth $1,362,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its holdings in shares of Deckers Outdoor by 929.0% in the third quarter. JPMorgan Chase & Co. now owns 1,296,894 shares of the textile maker's stock worth $206,790,000 after buying an additional 1,170,855 shares during the last quarter. Merit Financial Group LLC purchased a new position in shares of Deckers Outdoor in the fourth quarter worth $281,000. Atomi Financial Group Inc. raised its holdings in shares of Deckers Outdoor by 6.5% in the fourth quarter. Atomi Financial Group Inc. now owns 1,345 shares of the textile maker's stock worth $273,000 after buying an additional 82 shares during the last quarter. Mutual Advisors LLC raised its holdings in shares of Deckers Outdoor by 5.2% in the fourth quarter. Mutual Advisors LLC now owns 2,296 shares of the textile maker's stock worth $478,000 after buying an additional 114 shares during the last quarter. Finally, RFG Advisory LLC raised its holdings in shares of Deckers Outdoor by 21.1% in the fourth quarter. RFG Advisory LLC now owns 2,114 shares of the textile maker's stock worth $429,000 after buying an additional 368 shares during the last quarter. Hedge funds and other institutional investors own 97.79% of the company's stock.

Deckers Outdoor Price Performance

DECK stock traded down $2.58 during midday trading on Friday, hitting $104.69. 1,095,580 shares of the stock traded hands, compared to its average volume of 2,545,172. The firm has a market cap of $15.89 billion, a P/E ratio of 16.95, a PEG ratio of 1.68 and a beta of 1.11. The stock's fifty day simple moving average is $113.41 and its 200-day simple moving average is $156.26. Deckers Outdoor Co. has a 1-year low of $93.72 and a 1-year high of $223.98.

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

Deckers Outdoor declared that its board has authorized a stock buyback program on Thursday, May 22nd that allows the company to repurchase $2.25 billion in outstanding shares. This repurchase authorization allows the textile maker to repurchase up to 11.7% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

DECK has been the subject of a number of research analyst reports. Needham & Company LLC set a $150.00 price target on shares of Deckers Outdoor and gave the stock a "buy" rating in a report on Wednesday, May 21st. Raymond James reaffirmed a "strong-buy" rating on shares of Deckers Outdoor in a report on Friday, May 23rd. Robert W. Baird decreased their price target on shares of Deckers Outdoor from $160.00 to $140.00 and set an "outperform" rating for the company in a report on Friday, May 23rd. TD Securities raised their price target on shares of Deckers Outdoor from $150.00 to $175.00 and gave the stock a "buy" rating in a report on Tuesday, May 20th. Finally, Bank of America cut their price objective on shares of Deckers Outdoor from $154.00 to $128.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. Thirteen equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Deckers Outdoor presently has a consensus rating of "Moderate Buy" and a consensus target price of $134.68.

Insider Activity

In other news, Director Maha Saleh Ibrahim sold 300 shares of the firm's stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $134.48, for a total value of $40,344.00. Following the transaction, the director now directly owns 10,388 shares of the company's stock, valued at approximately $1,396,978.24. This trade represents a 2.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.40% of the company's stock.

Deckers Outdoor 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.