Retirement Systems of Alabama Reduces Stock Position in Deckers Outdoor Corporation (NYSE:DECK)

Retirement Systems of Alabama reduced its stake in shares of Deckers Outdoor Corporation (NYSE:DECK - Free Report) by 83.6% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 32,614 shares of the textile maker's stock after selling 166,748 shares during the period. Retirement Systems of Alabama's holdings in Deckers Outdoor were worth $3,647,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of DECK. Redwood Wealth Management Group LLC purchased a new stake in Deckers Outdoor in the 1st quarter worth about $419,000. State of Alaska Department of Revenue increased its stake in shares of Deckers Outdoor by 2.6% in the first quarter. State of Alaska Department of Revenue now owns 17,777 shares of the textile maker's stock worth $1,987,000 after purchasing an additional 455 shares in the last quarter. Prosperity Wealth Management Inc. raised its position in shares of Deckers Outdoor by 208.2% in the first quarter. Prosperity Wealth Management Inc. now owns 8,558 shares of the textile maker's stock valued at $957,000 after purchasing an additional 5,781 shares during the period. Patton Fund Management Inc. bought a new stake in shares of Deckers Outdoor in the first quarter valued at approximately $2,013,000. Finally, Precision Wealth Strategies LLC bought a new position in Deckers Outdoor in the 1st quarter worth approximately $371,000. Hedge funds and other institutional investors own 97.79% of the company's stock.

Insider Transactions at Deckers Outdoor

In other Deckers Outdoor news, Director Cindy L. Davis acquired 1,825 shares of the company's stock in a transaction on Friday, June 6th. The stock was acquired at an average price of $109.76 per share, for a total transaction of $200,312.00. Following the acquisition, the director now owns 13,340 shares in the company, valued at $1,464,198.40. This represents a 15.85% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Angela Ogbechie sold 6,244 shares of Deckers Outdoor stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $103.89, for a total value of $648,689.16. Following the completion of the sale, the insider now owns 19,980 shares in the company, valued at approximately $2,075,722.20. This 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 company insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Citigroup cut their price target on Deckers Outdoor from $215.00 to $150.00 and set a "buy" rating for the company in a report on Monday, April 28th. Piper Sandler reduced their target price on Deckers Outdoor from $210.00 to $100.00 and set a "neutral" rating for the company in a report on Friday, April 11th. KeyCorp reissued a "sector weight" rating and issued a $150.00 price target on shares of Deckers Outdoor in a report on Friday, May 23rd. Needham & Company LLC set a $150.00 price objective on shares of Deckers Outdoor and gave the company a "buy" rating in a research note on Wednesday, May 21st. Finally, Argus began coverage on shares of Deckers Outdoor in a research note on Friday, June 13th. They issued a "hold" rating on the stock. Fourteen investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Deckers Outdoor presently has an average rating of "Hold" and an average price target of $140.31.

Deckers Outdoor Stock Performance

NYSE:DECK traded up $0.90 during trading hours on Thursday, reaching $101.94. The company's stock had a trading volume of 2,693,125 shares, compared to its average volume of 2,615,030. The firm has a 50-day simple moving average of $111.36 and a 200-day simple moving average of $145.22. Deckers Outdoor Corporation has a 1 year low of $93.72 and a 1 year high of $223.98. The firm has a market capitalization of $15.23 billion, a price-to-earnings ratio of 16.07, a PEG ratio of 6.21 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 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.43. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. Deckers Outdoor had a return on equity of 41.17% and a net margin of 19.49%. The business's quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.82 earnings per share. Equities analysts anticipate that Deckers Outdoor Corporation will post 5.89 earnings per share for the current fiscal year.

Deckers Outdoor announced that its board has approved a stock buyback program on Thursday, May 22nd that authorizes the company to repurchase $2.25 billion in outstanding shares. This repurchase authorization authorizes the textile maker to repurchase up to 11.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's management believes its stock is 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.