Two Sigma Investments LP Reduces Position in Deckers Outdoor Co. (NYSE:DECK)

Two Sigma Investments LP trimmed its holdings in shares of Deckers Outdoor Co. (NYSE:DECK - Free Report) by 83.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,885 shares of the textile maker's stock after selling 103,363 shares during the period. Two Sigma Investments LP's holdings in Deckers Outdoor were worth $4,038,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in DECK. Headlands Technologies LLC purchased a new stake in Deckers Outdoor during the 4th quarter valued at $29,000. Whittier Trust Co. of Nevada Inc. boosted its stake in Deckers Outdoor by 250.0% during the 4th 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 during the last quarter. Itau Unibanco Holding S.A. boosted its stake in Deckers Outdoor by 352.1% during the 4th quarter. Itau Unibanco Holding S.A. now owns 217 shares of the textile maker's stock valued at $44,000 after purchasing an additional 169 shares during the last quarter. Aster Capital Management DIFC Ltd boosted its stake in Deckers Outdoor by 404.0% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 252 shares of the textile maker's stock valued at $51,000 after purchasing an additional 202 shares during the last quarter. Finally, Rakuten Securities Inc. boosted its stake in shares of Deckers Outdoor by 59.8% in the 4th quarter. Rakuten Securities Inc. now owns 350 shares of the textile maker's stock worth $71,000 after buying an additional 131 shares during the last quarter. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company dropped their price target on Deckers Outdoor from $120.00 to $100.00 and set an "equal weight" rating on the stock in a research note on Friday, May 23rd. Cowen restated a "buy" rating on shares of Deckers Outdoor in a research note on Tuesday, May 20th. UBS Group set a $169.00 price target on Deckers Outdoor and gave the stock a "buy" rating in a research note on Friday, May 23rd. Piper Sandler dropped 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. Finally, Raymond James restated a "strong-buy" rating on shares of Deckers Outdoor in a research note on Friday, May 23rd. Thirteen investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $134.68.

Insider Transactions at Deckers Outdoor

In other news, Director Maha Saleh Ibrahim sold 300 shares of Deckers Outdoor stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $134.48, for a total value of $40,344.00. Following the sale, the director now directly owns 10,388 shares of the company's stock, valued at approximately $1,396,978.24. The trade was a 2.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.40% of the company's stock.

Deckers Outdoor Stock Down 1.6%

NYSE:DECK traded down $1.70 on Friday, reaching $105.57. 4,410,632 shares of the company's stock traded hands, compared to its average volume of 2,554,723. The stock has a 50-day simple moving average of $113.07 and a 200-day simple moving average of $155.60. The firm has a market cap of $16.02 billion, a PE ratio of 17.11, a P/E/G ratio of 1.68 and a beta of 1.11. Deckers Outdoor Co. has a 12 month low of $93.72 and a 12 month high of $223.98.

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 analysts' consensus estimates of $0.57 by $0.43. The business 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 41.71% and a net margin of 19.14%. The business's quarterly revenue was up 6.5% on a year-over-year basis. During the same period last year, the firm earned $0.82 earnings per share. On average, equities analysts anticipate that Deckers Outdoor Co. will post 5.89 earnings per share for the current year.

Deckers Outdoor declared that its board has approved 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 stock through open market purchases. Stock repurchase programs are usually an indication that the company's management believes its stock is undervalued.

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.