Point72 Asset Management L.P. Lowers Holdings in Deckers Outdoor Co. (NYSE:DECK)

Point72 Asset Management L.P. decreased its holdings in Deckers Outdoor Co. (NYSE:DECK - Free Report) by 95.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,657 shares of the textile maker's stock after selling 425,633 shares during the quarter. Point72 Asset Management L.P.'s holdings in Deckers Outdoor were worth $4,398,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Headlands Technologies LLC bought a new position in Deckers Outdoor in the fourth quarter worth $29,000. Global Trust Asset Management LLC bought a new position in Deckers Outdoor in the fourth quarter worth $31,000. Whittier Trust Co. of Nevada Inc. raised its holdings in Deckers Outdoor by 250.0% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 168 shares of the textile maker's stock worth $34,000 after purchasing an additional 120 shares in the last quarter. Itau Unibanco Holding S.A. raised its holdings in Deckers Outdoor by 352.1% in the fourth quarter. Itau Unibanco Holding S.A. now owns 217 shares of the textile maker's stock worth $44,000 after purchasing an additional 169 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd raised its holdings in Deckers Outdoor by 404.0% in the fourth quarter. Aster Capital Management DIFC Ltd now owns 252 shares of the textile maker's stock worth $51,000 after purchasing an additional 202 shares in the last quarter. Hedge funds and other institutional investors own 97.79% of the company's stock.

Insiders Place Their Bets

In other news, Director Maha Saleh Ibrahim sold 300 shares of Deckers Outdoor stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $134.48, for a total transaction of $40,344.00. Following the transaction, the director now directly owns 10,388 shares of the company's stock, valued at $1,396,978.24. The trade was a 2.81% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director David Powers sold 25,000 shares of Deckers Outdoor stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $138.84, for a total value of $3,471,000.00. Following the transaction, the director now directly owns 241,777 shares in the company, valued at approximately $33,568,318.68. The trade was a 9.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.40% of the company's stock.

Deckers Outdoor Stock Up 2.7%

NYSE:DECK traded up $3.38 on Thursday, hitting $126.74. The stock had a trading volume of 7,254,701 shares, compared to its average volume of 2,466,923. The stock has a market cap of $19.24 billion, a price-to-earnings ratio of 20.55, a price-to-earnings-growth ratio of 1.68 and a beta of 1.11. The business's 50-day simple moving average is $114.83 and its two-hundred day simple moving average is $158.54. Deckers Outdoor Co. has a 52-week low of $93.72 and a 52-week high of $223.98.

Deckers Outdoor (NYSE:DECK - Get Free Report) last announced its earnings results on Thursday, May 22nd. The textile maker reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.45. Deckers Outdoor had a return on equity of 41.71% and a net margin of 19.14%. Deckers Outdoor's revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.82 EPS. As a group, equities research analysts anticipate that Deckers Outdoor Co. will post 5.89 EPS for the current year.

Deckers Outdoor declared that its board has authorized a share buyback plan on Thursday, May 22nd that authorizes the company to buyback $2.25 billion in outstanding shares. This buyback authorization authorizes the textile maker to purchase up to 11.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts have issued reports on DECK shares. Telsey Advisory Group reiterated an "outperform" rating on shares of Deckers Outdoor in a report on Thursday. UBS Group restated a "hold" rating on shares of Deckers Outdoor in a report on Thursday. TD Securities raised their price target on Deckers Outdoor from $150.00 to $175.00 and gave the company a "buy" rating in a report on Tuesday. Piper Sandler reduced their price target on Deckers Outdoor from $210.00 to $100.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Finally, Jefferies Financial Group raised their price target on Deckers Outdoor from $180.00 to $200.00 and gave the company a "hold" rating in a report on Tuesday, January 28th. Ten equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $157.79.

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.