Deckers Outdoor Corporation $DECK Stock Sold by Allspring Global Investments Holdings LLC

Key Points

• Allspring cut its Deckers Outdoor stake by 35.6% in the third quarter, selling 287,857 shares and retaining 519,823 shares valued at about $41.4 million.
• Deckers reported quarterly EPS of $2.31, beating estimates of $1.79, while revenue of $1.48 billion fell short of forecasts of $1.51 billion; revenue rose 3.4% year over year.
• Analysts’ consensus rating is Hold, with an average price target of $103.86. Shares opened at $88.42, below their 200-day moving average of $98.74.

Allspring Global Investments Holdings LLC reduced its holdings in shares of Deckers Outdoor Corporation (NYSE:DECK - Free Report) by 35.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 519,823 shares of the textile maker's stock after selling 287,857 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.39% of Deckers Outdoor worth $41,362,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of DECK. BlackRock Inc. acquired a new stake in shares of Deckers Outdoor in the 2nd quarter valued at approximately $1,343,613,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Deckers Outdoor by 21.5% in the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,116,595 shares of the textile maker's stock valued at $210,157,000 after acquiring an additional 374,923 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Deckers Outdoor by 123.2% during the 1st quarter. Bank of New York Mellon Corp now owns 1,803,021 shares of the textile maker's stock valued at $180,464,000 after acquiring an additional 995,099 shares in the last quarter. Amundi boosted its holdings in shares of Deckers Outdoor by 13.2% during the 1st quarter. Amundi now owns 1,611,174 shares of the textile maker's stock valued at $161,262,000 after acquiring an additional 187,702 shares in the last quarter. Finally, Caisse de depot et placement du Quebec acquired a new stake in shares of Deckers Outdoor during the 2nd quarter valued at $119,656,000. 97.79% of the stock is owned by institutional investors and hedge funds.

Deckers Outdoor Price Performance

DECK stock opened at $88.42 on Thursday. The stock has a market capitalization of $11.80 billion, a PE ratio of 12.37, a price-to-earnings-growth ratio of 1.44 and a beta of 1.10. The company's 50-day moving average is $82.53 and its 200-day moving average is $98.74. Deckers Outdoor Corporation has a 1 year low of $77.20 and a 1 year high of $122.29.

Deckers Outdoor (NYSE:DECK - Get Free Report) last issued its earnings results on Thursday, October 22nd. The textile maker reported $2.31 EPS for the quarter, beating analysts' consensus estimates of $1.79 by $0.52. The business had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.51 billion. Deckers Outdoor had a return on equity of 42.42% and a net margin of 19.18%. The firm's revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the company posted $1.82 EPS. On average, analysts anticipate that Deckers Outdoor Corporation will post 7.89 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

DECK has been the topic of several recent research reports. Needham & Company LLC cut their target price on shares of Deckers Outdoor from $125.00 to $96.00 and set a "buy" rating on the stock in a research report on Friday, October 23rd. Telsey Advisory Group restated a "market perform" rating and issued a $90.00 price target (down from $105.00) on shares of Deckers Outdoor in a research report on Friday, October 23rd. BNP Paribas Exane decreased their price target on shares of Deckers Outdoor from $184.00 to $122.00 and set an "outperform" rating for the company in a research report on Friday, October 23rd. The Goldman Sachs Group reaffirmed a "sell" rating and set a $75.00 price target (down from $86.00) on shares of Deckers Outdoor in a research note on Friday, October 23rd. Finally, Stifel Nicolaus dropped their price target on shares of Deckers Outdoor from $133.00 to $113.00 and set a "buy" rating for the company in a research note on Friday, October 23rd. Ten equities research analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and four have issued a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $103.86.

About Deckers Outdoor

Deckers Outdoor Corporation designs, markets and distributes footwear, apparel and accessories through a portfolio of consumer brands. Its best-known brands include UGG, HOKA and Teva, which serve customers seeking products for lifestyle, performance and outdoor use. Founded in 1973 in California, Deckers began as a maker of sandals. The company now sells its products worldwide through wholesale partners as well as its own retail stores and e-commerce channels, serving markets across the Americas, Europe, the Middle East and Africa, and Asia-Pacific.

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