TD Asset Management Inc Trims Stock Holdings in Deckers Outdoor Corporation (NYSE:DECK)

Key Points

• TD Asset Management Inc reduced its holdings in Deckers Outdoor Corporation by 14.4%, owning 1,096,152 shares worth $122.56 million as of the latest SEC filing.
• Several large investors increased their investments in Deckers Outdoor during the first quarter, including Marks Group Wealth Management Inc, which raised its position by 15.4%.
• Equities analysts have raised their target prices for Deckers Outdoor, with Raymond James Financial increasing its target from $123.00 to $137.00 and giving it a "strong-buy" rating.

TD Asset Management Inc cut its stake in shares of Deckers Outdoor Corporation (NYSE:DECK - Free Report) by 14.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,096,152 shares of the textile maker's stock after selling 184,571 shares during the quarter. TD Asset Management Inc owned 0.72% of Deckers Outdoor worth $122,561,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in DECK. Mpwm Advisory Solutions LLC bought a new position in Deckers Outdoor during the fourth quarter worth $26,000. Headlands Technologies LLC purchased a new position in shares of Deckers Outdoor in the fourth quarter worth about $29,000. Vega Investment Solutions purchased a new position in shares of Deckers Outdoor in the fourth quarter worth about $29,000. Mountain Hill Investment Partners Corp. purchased a new position in shares of Deckers Outdoor in the first quarter worth about $34,000. Finally, Fourth Dimension Wealth LLC bought a new position in shares of Deckers Outdoor in the fourth quarter valued at approximately $41,000. 97.79% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Deckers Outdoor news, insider Angela Ogbechie sold 6,244 shares of the business's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $103.89, for a total transaction of $648,689.16. Following the sale, the insider directly owned 19,980 shares in the company, valued at approximately $2,075,722.20. The trade was a 23.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Cindy L. Davis purchased 1,825 shares of the business's stock in a transaction dated Friday, June 6th. The stock was bought at an average cost of $109.76 per share, with a total value of $200,312.00. Following the completion of the acquisition, the director owned 13,340 shares of the company's stock, valued at approximately $1,464,198.40. The trade was a 15.85% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.40% of the stock is owned by company insiders.

Deckers Outdoor Price Performance

Shares of NYSE DECK traded down $0.96 during midday trading on Wednesday, hitting $111.15. 1,082,134 shares of the company's stock were exchanged, compared to its average volume of 3,476,464. Deckers Outdoor Corporation has a twelve month low of $93.72 and a twelve month high of $223.98. The company has a market cap of $16.51 billion, a PE ratio of 17.04, a P/E/G ratio of 7.15 and a beta of 0.99. The firm's fifty day simple moving average is $105.57 and its 200-day simple moving average is $127.87.

Deckers Outdoor (NYSE:DECK - Get Free Report) last issued its earnings results on Thursday, July 24th. The textile maker reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.25. The business had revenue of $964.54 million for the quarter, compared to analyst estimates of $901.45 million. Deckers Outdoor had a return on equity of 40.49% and a net margin of 19.42%. The business's quarterly revenue was up 16.9% on a year-over-year basis. During the same quarter last year, the company earned $4.52 EPS. Equities analysts anticipate that Deckers Outdoor Corporation will post 5.89 EPS for the current fiscal year.

Deckers Outdoor announced that its Board of Directors has authorized a stock buyback program on Thursday, May 22nd that authorizes the company to repurchase $2.25 billion in shares. This repurchase authorization authorizes the textile maker to buy up to 11.7% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

Several brokerages recently commented on DECK. KGI Securities raised shares of Deckers Outdoor to a "hold" rating in a research note on Monday, May 26th. The Goldman Sachs Group lowered their target price on shares of Deckers Outdoor from $90.00 to $87.00 and set a "sell" rating on the stock in a research note on Tuesday, July 22nd. Robert W. Baird upped their target price on shares of Deckers Outdoor from $140.00 to $150.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Citigroup lowered their price objective on shares of Deckers Outdoor from $215.00 to $150.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Finally, TD Securities raised their target price on shares of Deckers Outdoor from $150.00 to $175.00 and gave the stock a "buy" rating in a research note on Tuesday, May 20th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Deckers Outdoor currently has an average rating of "Hold" and an average target price of $137.50.

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.