Deckers Outdoor Corporation $DECK Shares Sold by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management cut its Deckers Outdoor stake by 11.2% in the third quarter, selling 248,669 shares and retaining 1.97 million shares worth approximately $153.7 million. Institutional investors collectively own 97.79% of the company.
• Deckers stock opened at $85.35, down 2.3%, and remains below its 52-week high of $122.29. The company reported quarterly EPS of $0.94, beating estimates by $0.06, while revenue rose 5.7% year over year to $1.02 billion.
• Analyst sentiment is mixed, with nine Buy, twelve Hold, and three Sell ratings; the consensus rating is Hold, with an average price target of $111.84.

Robeco Institutional Asset Management B.V. reduced its stake in shares of Deckers Outdoor Corporation (NYSE:DECK - Free Report) by 11.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,967,191 shares of the textile maker's stock after selling 248,669 shares during the period. Robeco Institutional Asset Management B.V. owned 1.44% of Deckers Outdoor worth $153,716,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. BlackRock Inc. purchased a new position in Deckers Outdoor during the second quarter worth approximately $1,343,613,000. Bank of New York Mellon Corp acquired a new stake in shares of Deckers Outdoor in the 2nd quarter worth $170,905,000. Caisse de depot et placement du Quebec acquired a new stake in shares of Deckers Outdoor in the 2nd quarter worth $119,656,000. Deutsche Bank AG acquired a new stake in shares of Deckers Outdoor in the 2nd quarter worth $100,620,000. Finally, Man Group plc purchased a new position in shares of Deckers Outdoor during the 2nd quarter worth $82,448,000. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

Deckers Outdoor Stock Down 2.3%

DECK stock opened at $85.35 on Thursday. Deckers Outdoor Corporation has a 52-week low of $77.20 and a 52-week high of $122.29. The stock has a market cap of $11.63 billion, a price-to-earnings ratio of 12.39, a price-to-earnings-growth ratio of 1.36 and a beta of 1.12. The business has a fifty day moving average of $83.83 and a two-hundred day moving average of $97.09.

Deckers Outdoor (NYSE:DECK - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The textile maker reported $0.94 EPS for the quarter, beating the consensus estimate of $0.88 by $0.06. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. Deckers Outdoor had a return on equity of 41.51% and a net margin of 18.54%. The company's quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.93 EPS. As a group, sell-side analysts anticipate that Deckers Outdoor Corporation will post 7.50 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. UBS Group reissued a "buy" rating and set a $140.00 price target on shares of Deckers Outdoor in a research report on Thursday, October 15th. Needham & Company LLC cut their price objective on shares of Deckers Outdoor from $138.00 to $125.00 and set a "buy" rating for the company in a research report on Friday, July 24th. Telsey Advisory Group restated a "market perform" rating and set a $105.00 price objective on shares of Deckers Outdoor in a research report on Thursday, October 15th. Stifel Nicolaus set a $133.00 target price on shares of Deckers Outdoor and gave the stock a "buy" rating in a research note on Friday, July 24th. Finally, Truist Financial decreased their target price on shares of Deckers Outdoor from $125.00 to $105.00 and set a "buy" rating on the stock in a report on Friday, July 24th. Nine research analysts have rated the stock with a Buy rating, twelve have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $111.84.

Deckers Outdoor Company Profile

Deckers Outdoor Corporation, doing business as Deckers Brands NYSE: DECK, is a global footwear, apparel and accessories company. Its portfolio includes UGG, known for sheepskin and casual footwear; HOKA, which focuses on performance and running shoes; Teva, which offers outdoor and sport sandals and footwear; and Koolaburra by UGG, a lifestyle footwear brand.

The company sells its products through department and specialty stores, independent retailers, international distributors, company-owned retail stores and e-commerce websites.

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