Penobscot Investment Management Company Inc. Has $2.81 Million Stock Position in Deckers Outdoor Corporation $DECK

Key Points

• Penobscot Investment Management cut its stake in Deckers by 42.0% in Q4, selling 19,598 shares and leaving it with 27,090 shares worth approximately $2.81 million.
• Deckers reported a strong quarter, beating estimates with $3.33 EPS (vs. $2.77 expected) and $1.96 billion in revenue, backed by a 41.6% ROE and a 19.46% net margin; analysts project roughly 6.87 EPS for the fiscal year.
• Insiders sold about 9,092 shares (~$1.05M) in the last three months while institutional ownership remains high at 97.79%, and the consensus rating is a Moderate Buy with a $125.45 target price.

Penobscot Investment Management Company Inc. cut its holdings in shares of Deckers Outdoor Corporation (NYSE:DECK - Free Report) by 42.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 27,090 shares of the textile maker's stock after selling 19,598 shares during the quarter. Penobscot Investment Management Company Inc.'s holdings in Deckers Outdoor were worth $2,808,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of DECK. Revolve Wealth Partners LLC acquired a new stake in Deckers Outdoor during the 4th quarter worth about $247,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Deckers Outdoor by 3.2% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 16,614 shares of the textile maker's stock worth $1,858,000 after acquiring an additional 522 shares during the period. Empowered Funds LLC boosted its position in Deckers Outdoor by 165.6% during the 1st quarter. Empowered Funds LLC now owns 10,239 shares of the textile maker's stock worth $1,145,000 after acquiring an additional 6,384 shares during the period. Focus Partners Wealth boosted its position in Deckers Outdoor by 8.1% during the 1st quarter. Focus Partners Wealth now owns 6,914 shares of the textile maker's stock worth $773,000 after acquiring an additional 521 shares during the period. Finally, Marshall Wace LLP boosted its position in Deckers Outdoor by 163.2% during the 2nd quarter. Marshall Wace LLP now owns 10,306 shares of the textile maker's stock worth $1,062,000 after acquiring an additional 6,391 shares during the period. 97.79% of the stock is currently owned by institutional investors and hedge funds.

Deckers Outdoor Price Performance

DECK opened at $110.18 on Wednesday. Deckers Outdoor Corporation has a fifty-two week low of $78.91 and a fifty-two week high of $133.43. The business has a 50-day moving average of $107.63 and a 200-day moving average of $100.89. The company has a market capitalization of $15.64 billion, a PE ratio of 15.56, a price-to-earnings-growth ratio of 2.38 and a beta of 1.21.

Deckers Outdoor (NYSE:DECK - Get Free Report) last posted its quarterly earnings results on Thursday, January 29th. The textile maker reported $3.33 earnings per share for the quarter, topping analysts' consensus estimates of $2.77 by $0.56. Deckers Outdoor had a return on equity of 41.60% and a net margin of 19.46%.The company had revenue of $1.96 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same period last year, the business earned $3.00 EPS. The business's quarterly revenue was up 7.1% on a year-over-year basis. On average, equities research analysts expect that Deckers Outdoor Corporation will post 6.87 earnings per share for the current fiscal year.

Insider Transactions at Deckers Outdoor

In other news, Director Lauri M. Shanahan sold 4,682 shares of the firm's stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $114.84, for a total transaction of $537,680.88. Following the completion of the sale, the director directly owned 25,026 shares of the company's stock, valued at $2,873,985.84. This trade represents a 15.76% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Anne Spangenberg sold 4,063 shares of the firm's stock in a transaction dated Friday, February 13th. The stock was sold at an average price of $116.02, for a total value of $471,389.26. Following the sale, the insider directly owned 80,449 shares of the company's stock, valued at $9,333,692.98. This trade represents a 4.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 9,092 shares of company stock valued at $1,048,552 in the last three months. Corporate insiders own 0.40% of the company's stock.

Wall Street Analyst Weigh In

DECK has been the subject of a number of research reports. Truist Financial set a $132.00 price objective on Deckers Outdoor in a research report on Friday, January 30th. Weiss Ratings restated a "hold (c)" rating on shares of Deckers Outdoor in a research report on Monday. Robert W. Baird lowered Deckers Outdoor from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, January 7th. Telsey Advisory Group restated a "market perform" rating and set a $120.00 price objective (up from $105.00) on shares of Deckers Outdoor in a research report on Monday, January 26th. Finally, Wells Fargo & Company set a $115.00 price objective on Deckers Outdoor and gave the stock an "equal weight" rating in a research report on Wednesday, April 15th. Three analysts have rated the stock with a Strong Buy rating, ten have given a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, Deckers Outdoor presently has a consensus rating of "Moderate Buy" and a consensus target price of $125.45.

Deckers Outdoor Company Profile

Deckers Outdoor Corporation is a global designer, marketer and distributor of footwear, apparel and accessories. The company's product portfolio includes well‐known brands such as UGG, HOKA, Teva, Sanuk and Koolaburra by UGG, spanning a range of lifestyle, performance and outdoor categories. Deckers leverages a blend of proprietary manufacturing, strategic brand storytelling and direct‐to‐consumer retail to serve both fashion‐focused and performance‐oriented customers.

Founded in 1973 by Doug Otto and Karl F.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.