Teacher Retirement System of Texas Sells 294,329 Shares of Deckers Outdoor Corporation (NYSE:DECK)

Teacher Retirement System of Texas reduced its position in shares of Deckers Outdoor Corporation (NYSE:DECK - Free Report) by 89.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,913 shares of the textile maker's stock after selling 294,329 shares during the period. Teacher Retirement System of Texas' holdings in Deckers Outdoor were worth $3,680,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Deckers Outdoor during the 4th quarter worth about $392,583,000. Jacobs Levy Equity Management Inc. raised its holdings in Deckers Outdoor by 204.8% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 889,624 shares of the textile maker's stock valued at $180,674,000 after buying an additional 597,743 shares during the period. Envestnet Asset Management Inc. raised its holdings in Deckers Outdoor by 101.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,003,743 shares of the textile maker's stock valued at $203,850,000 after buying an additional 505,139 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in Deckers Outdoor by 69.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,034,191 shares of the textile maker's stock valued at $210,034,000 after buying an additional 424,702 shares during the period. Finally, Martin Currie Ltd. purchased a new stake in shares of Deckers Outdoor during the fourth quarter valued at approximately $57,688,000. 97.79% of the stock is owned by institutional investors and hedge funds.

Deckers Outdoor Stock Down 0.4%

Deckers Outdoor stock traded down $0.45 during midday trading on Wednesday, hitting $104.84. The company's stock had a trading volume of 2,852,160 shares, compared to its average volume of 2,650,327. The stock's 50-day moving average price is $110.87 and its 200-day moving average price is $138.49. Deckers Outdoor Corporation has a 12 month low of $93.72 and a 12 month high of $223.98. The company has a market capitalization of $15.67 billion, a PE ratio of 16.53, a price-to-earnings-growth ratio of 6.43 and a beta of 0.99.

Deckers Outdoor (NYSE:DECK - Get Free Report) last issued its quarterly earnings results on Thursday, May 22nd. The textile maker reported $1.00 earnings per share for the quarter, topping analysts' consensus estimates of $0.57 by $0.43. The firm had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.01 billion. Deckers Outdoor had a return on equity of 41.17% and a net margin of 19.49%. Deckers Outdoor's revenue was up 6.5% on a year-over-year basis. During the same quarter last year, the business posted $0.82 EPS. As a group, equities analysts anticipate that Deckers Outdoor Corporation will post 5.89 EPS for the current year.

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

Insider Buying and Selling

In related news, Director Maha Saleh Ibrahim sold 300 shares of Deckers Outdoor 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 owned 10,681 shares of the company's stock, valued at approximately $1,165,083.48. This trade represents a 2.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Angela Ogbechie sold 6,244 shares of Deckers Outdoor stock in a transaction dated 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 transaction, the insider directly owned 19,980 shares in the company, valued at $2,075,722.20. This represents a 23.81% decrease in their position. 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 analysts have recently weighed in on DECK shares. Cowen reissued a "buy" rating on shares of Deckers Outdoor in a research report on Tuesday, May 20th. Argus started coverage on shares of Deckers Outdoor in a report on Friday, June 13th. They issued a "hold" rating for the company. KGI Securities raised shares of Deckers Outdoor to a "hold" rating in a report on Monday, May 26th. The Goldman Sachs Group started coverage on shares of Deckers Outdoor in a report on Wednesday, July 2nd. They set a "sell" rating and a $90.00 price target for the company. Finally, Raymond James Financial reissued a "strong-buy" rating on shares of Deckers Outdoor in a report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $137.66.

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.