Teacher Retirement System of Texas Decreases Stock Position in Deckers Outdoor Corporation (NYSE:DECK)

Teacher Retirement System of Texas lowered its stake in Deckers Outdoor Corporation (NYSE:DECK - Free Report) by 89.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of DECK. Mpwm Advisory Solutions LLC purchased a new stake in shares of Deckers Outdoor during the 4th quarter valued at about $26,000. Headlands Technologies LLC bought a new position in Deckers Outdoor in the fourth quarter worth approximately $29,000. Vega Investment Solutions bought a new position in shares of Deckers Outdoor in the 4th quarter worth $29,000. Whittier Trust Co. of Nevada Inc. boosted its position in Deckers Outdoor by 250.0% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 168 shares of the textile maker's stock valued at $34,000 after purchasing an additional 120 shares in the last quarter. Finally, Fourth Dimension Wealth LLC bought a new stake in Deckers Outdoor during the fourth quarter valued at about $41,000. Hedge funds and other institutional investors own 97.79% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Evercore ISI reiterated an "in-line" rating and issued a $110.00 price target (down from $235.00) on shares of Deckers Outdoor in a research note on Friday, May 23rd. Stifel Nicolaus dropped their target price on Deckers Outdoor from $185.00 to $127.00 and set a "hold" rating on the stock in a report on Thursday, April 10th. Needham & Company LLC set a $150.00 target price on Deckers Outdoor and gave the stock a "buy" rating in a report on Wednesday, May 21st. TD Securities raised their price objective on Deckers Outdoor from $150.00 to $175.00 and gave the company a "buy" rating in a report on Tuesday, May 20th. Finally, Piper Sandler lowered their price target on Deckers Outdoor from $210.00 to $100.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. One analyst has rated the stock with a sell rating, fourteen have issued 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.com, the company presently has an average rating of "Hold" and an average target price of $137.66.

Deckers Outdoor Stock Down 0.3%

NYSE:DECK opened at $105.38 on Wednesday. The company has a market capitalization of $15.75 billion, a P/E ratio of 16.61, a P/E/G ratio of 6.43 and a beta of 0.99. Deckers Outdoor Corporation has a 52 week low of $93.72 and a 52 week high of $223.98. The stock's fifty day moving average is $110.87 and its two-hundred day moving average is $138.49.

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

Deckers Outdoor announced that its Board of Directors has initiated a share repurchase plan on Thursday, May 22nd that permits the company to repurchase $2.25 billion in shares. This repurchase authorization permits the textile maker to repurchase up to 11.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Deckers Outdoor news, insider Angela Ogbechie sold 6,244 shares of the company's stock in a transaction dated 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 owned 19,980 shares in the company, valued at $2,075,722.20. This represents a 23.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Cindy L. Davis acquired 1,825 shares of the company's stock in a transaction dated 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 owned 13,340 shares in the company, valued at approximately $1,464,198.40. The trade was a 15.85% increase in their position. The disclosure for this purchase can be found here. 0.40% of the stock is owned by company insiders.

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.

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