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

Teacher Retirement System of Texas decreased 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 institutional investor owned 32,913 shares of the textile maker's stock after selling 294,329 shares during the quarter. Teacher Retirement System of Texas' holdings in Deckers Outdoor were worth $3,680,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Prosperity Wealth Management Inc. boosted its stake in shares of Deckers Outdoor by 2.8% during the 4th quarter. Prosperity Wealth Management Inc. now owns 2,777 shares of the textile maker's stock worth $564,000 after acquiring an additional 75 shares in the last quarter. HighPoint Advisor Group LLC lifted its stake in Deckers Outdoor by 5.3% in the 4th quarter. HighPoint Advisor Group LLC now owns 1,623 shares of the textile maker's stock valued at $330,000 after buying an additional 81 shares in the last quarter. Gerber Kawasaki Wealth & Investment Management lifted its stake in Deckers Outdoor by 4.6% in the 4th quarter. Gerber Kawasaki Wealth & Investment Management now owns 1,902 shares of the textile maker's stock valued at $386,000 after buying an additional 84 shares in the last quarter. CIBC Private Wealth Group LLC lifted its stake in Deckers Outdoor by 1.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 4,896 shares of the textile maker's stock valued at $1,016,000 after buying an additional 90 shares in the last quarter. Finally, Alcosta Capital Management Inc. lifted its stake in Deckers Outdoor by 0.3% in the 4th quarter. Alcosta Capital Management Inc. now owns 33,787 shares of the textile maker's stock valued at $6,862,000 after buying an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 97.79% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on DECK. Raymond James Financial reaffirmed a "strong-buy" rating on shares of Deckers Outdoor in a research note on Friday, May 23rd. Barclays reiterated an "overweight" rating and issued a $128.00 price target (down from $129.00) on shares of Deckers Outdoor in a report on Thursday, May 22nd. KGI Securities upgraded Deckers Outdoor to a "hold" rating in a report on Monday, May 26th. UBS Group set a $169.00 target price on Deckers Outdoor and gave the company a "buy" rating in a research note on Friday, May 23rd. Finally, Robert W. Baird lowered their target price on Deckers Outdoor from $160.00 to $140.00 and set an "outperform" rating for the company in a research note 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 assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $137.66.

Deckers Outdoor Price Performance

NYSE DECK traded down $3.18 on Friday, hitting $101.77. 3,158,687 shares of the stock were exchanged, compared to its average volume of 2,652,623. Deckers Outdoor Corporation has a 52-week low of $93.72 and a 52-week high of $223.98. The company has a market capitalization of $15.21 billion, a price-to-earnings ratio of 16.04, a P/E/G ratio of 6.38 and a beta of 0.99. The company's 50-day moving average price is $110.62 and its two-hundred day moving average price is $137.55.

Deckers Outdoor (NYSE:DECK - Get Free Report) last posted its quarterly earnings results on Thursday, May 22nd. The textile maker reported $1.00 EPS for the quarter, beating the consensus estimate of $0.57 by $0.43. Deckers Outdoor had a net margin of 19.49% and a return on equity of 41.17%. The business had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same period in the previous year, the company posted $0.82 EPS. Deckers Outdoor's revenue was up 6.5% on a year-over-year basis. Equities analysts predict that Deckers Outdoor Corporation will post 5.89 EPS for the current fiscal year.

Deckers Outdoor declared that its board has initiated a share buyback program on Thursday, May 22nd that permits the company to buyback $2.25 billion in shares. This buyback authorization permits the textile maker to reacquire up to 11.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its shares are undervalued.

Insiders Place Their Bets

In related news, Director Cindy L. Davis acquired 1,825 shares of the business's stock in a transaction dated Friday, June 6th. The stock was acquired at an average price of $109.76 per share, with a total value of $200,312.00. Following the completion of the transaction, 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 purchase 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 the company's stock in a transaction dated 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 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 position. The disclosure for this sale can be found here. Company insiders own 0.40% of the company's stock.

About Deckers Outdoor

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.