Penobscot Investment Management Company Inc. Increases Position in Deckers Outdoor Corporation (NYSE:DECK)

Penobscot Investment Management Company Inc. lifted its holdings in shares of Deckers Outdoor Corporation (NYSE:DECK - Free Report) by 16.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,883 shares of the textile maker's stock after buying an additional 5,237 shares during the period. Penobscot Investment Management Company Inc.'s holdings in Deckers Outdoor were worth $4,124,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Robeco Institutional Asset Management B.V. increased its stake in Deckers Outdoor by 29.5% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 904,712 shares of the textile maker's stock valued at $101,156,000 after purchasing an additional 206,316 shares in the last quarter. Aurora Private Wealth Inc. grew its holdings in Deckers Outdoor by 30.0% during the 1st quarter. Aurora Private Wealth Inc. now owns 2,535 shares of the textile maker's stock valued at $283,000 after buying an additional 585 shares during the last quarter. Mattern Capital Management LLC grew its holdings in Deckers Outdoor by 1.9% during the 1st quarter. Mattern Capital Management LLC now owns 15,803 shares of the textile maker's stock valued at $1,767,000 after buying an additional 294 shares during the last quarter. Lecap Asset Management Ltd. grew its holdings in Deckers Outdoor by 159.2% during the 1st quarter. Lecap Asset Management Ltd. now owns 18,760 shares of the textile maker's stock valued at $2,098,000 after buying an additional 11,522 shares during the last quarter. Finally, Moran Wealth Management LLC grew its holdings in Deckers Outdoor by 0.4% during the 1st quarter. Moran Wealth Management LLC now owns 66,808 shares of the textile maker's stock valued at $7,470,000 after buying an additional 290 shares during the last quarter. 97.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Deckers Outdoor

In other Deckers Outdoor news, Director Maha Saleh Ibrahim sold 300 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $109.08, for a total value of $32,724.00. Following the transaction, the director now directly owns 10,681 shares of the company's stock, valued at $1,165,083.48. This trade represents a 2.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Angela Ogbechie sold 6,244 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $103.89, for a total value of $648,689.16. Following the completion of the transaction, the insider now directly owns 19,980 shares in the company, valued at $2,075,722.20. This trade represents a 23.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have commented on DECK. UBS Group set a $169.00 target price on Deckers Outdoor and gave the company a "buy" rating in a report on Friday, May 23rd. Bank of America lowered their target price on Deckers Outdoor from $154.00 to $128.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. Piper Sandler lowered their target price on Deckers Outdoor from $210.00 to $100.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Citigroup decreased their price objective on Deckers Outdoor from $215.00 to $150.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Finally, Robert W. Baird decreased their price objective on Deckers Outdoor from $160.00 to $140.00 and set an "outperform" rating on the stock in a report on Friday, May 23rd. Fourteen analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $140.31.

Deckers Outdoor Stock Performance

Deckers Outdoor stock traded up $2.41 during midday trading on Friday, reaching $104.34. The stock had a trading volume of 3,919,944 shares, compared to its average volume of 2,622,653. The stock's 50-day simple moving average is $111.26 and its 200 day simple moving average is $143.02. Deckers Outdoor Corporation has a twelve month low of $93.72 and a twelve month high of $223.98. The stock has a market capitalization of $15.59 billion, a PE ratio of 16.45, a price-to-earnings-growth ratio of 6.33 and a beta of 1.02.

Deckers Outdoor (NYSE:DECK - Get Free Report) last released its quarterly earnings data 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 return on equity of 41.17% and a net margin of 19.49%. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the company posted $0.82 earnings per share. The firm's revenue was up 6.5% compared to the same quarter last year. Equities analysts predict that Deckers Outdoor Corporation will post 5.89 earnings per share for the current fiscal year.

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

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.