Teacher Retirement System of Texas Cuts Stake in Deckers Outdoor Corporation (NYSE:DECK)

Teacher Retirement System of Texas lowered its position in Deckers Outdoor Corporation (NYSE:DECK - Free Report) by 89.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm 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 bought and sold shares of the company. Novem Group boosted its holdings in Deckers Outdoor by 28.7% in the 1st quarter. Novem Group now owns 5,799 shares of the textile maker's stock worth $648,000 after buying an additional 1,294 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Deckers Outdoor by 0.8% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,106 shares of the textile maker's stock worth $1,913,000 after buying an additional 140 shares during the period. Smith Group Asset Management LLC bought a new position in Deckers Outdoor in the 1st quarter worth $371,000. WT Asset Management Ltd bought a new position in Deckers Outdoor in the 1st quarter worth $15,631,000. Finally, Vontobel Holding Ltd. boosted its holdings in Deckers Outdoor by 29.9% in the 1st quarter. Vontobel Holding Ltd. now owns 18,493 shares of the textile maker's stock worth $2,068,000 after buying an additional 4,253 shares during the period. Institutional investors own 97.79% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Citigroup dropped their price objective on shares of Deckers Outdoor from $215.00 to $150.00 and set a "buy" rating for the company in a report on Monday, April 28th. Evercore ISI reissued an "in-line" rating and set a $110.00 price objective (down previously from $235.00) on shares of Deckers Outdoor in a report on Friday, May 23rd. TD Securities increased their price objective on shares of Deckers Outdoor from $150.00 to $175.00 and gave the company a "buy" rating in a report on Tuesday, May 20th. Stifel Nicolaus dropped their price objective on shares of Deckers Outdoor from $185.00 to $127.00 and set a "hold" rating for the company in a report on Thursday, April 10th. Finally, Bank of America dropped their price objective on shares of Deckers Outdoor from $154.00 to $128.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Deckers Outdoor presently has an average rating of "Hold" and an average price target of $137.66.

Deckers Outdoor Trading Up 0.7%

DECK traded up $0.71 on Thursday, reaching $105.62. The stock had a trading volume of 638,214 shares, compared to its average volume of 2,647,682. Deckers Outdoor Corporation has a 12-month low of $93.72 and a 12-month high of $223.98. The business's 50-day moving average price is $110.74 and its two-hundred day moving average price is $138.26. The company has a market cap of $15.78 billion, a P/E ratio of 16.66, a price-to-earnings-growth ratio of 6.40 and a beta of 0.99.

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. Deckers Outdoor had a net margin of 19.49% and a return on equity of 41.17%. The company had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter in the previous year, the company earned $0.82 earnings per share. The firm's revenue for the quarter was up 6.5% on a year-over-year basis. As a group, analysts predict that Deckers Outdoor Corporation will post 5.89 earnings per share for the current year.

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

Insider Buying and Selling at Deckers Outdoor

In other news, Director Cindy L. Davis acquired 1,825 shares of the business's stock in a transaction on Friday, June 6th. The stock was bought at an average price 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. This represents a 15.85% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Angela Ogbechie sold 6,244 shares of Deckers Outdoor stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $103.89, for a total transaction of $648,689.16. Following the completion of the transaction, the insider directly owned 19,980 shares of the company's stock, valued at $2,075,722.20. The trade was a 23.81% decrease in their position. The disclosure for this sale can be found here. 0.40% of the stock is owned by corporate insiders.

Deckers Outdoor Company 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.