UMB Bank n.a. Reduces Position in Deckers Outdoor Co. (NYSE:DECK)

UMB Bank n.a. decreased its holdings in shares of Deckers Outdoor Co. (NYSE:DECK - Free Report) by 84.9% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 3,162 shares of the textile maker's stock after selling 17,732 shares during the period. UMB Bank n.a.'s holdings in Deckers Outdoor were worth $354,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Deckers Outdoor by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 17,639,783 shares of the textile maker's stock worth $3,582,464,000 after purchasing an additional 229,807 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Deckers Outdoor by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 4,104,954 shares of the textile maker's stock worth $831,723,000 after purchasing an additional 45,035 shares during the period. Norges Bank acquired a new stake in shares of Deckers Outdoor during the fourth quarter worth about $392,583,000. Northern Trust Corp lifted its holdings in shares of Deckers Outdoor by 13.9% during the fourth quarter. Northern Trust Corp now owns 1,581,702 shares of the textile maker's stock worth $321,228,000 after purchasing an additional 192,469 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Deckers Outdoor by 11.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,423,149 shares of the textile maker's stock worth $289,027,000 after purchasing an additional 145,794 shares during the period. Hedge funds and other institutional investors own 97.79% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on DECK. TD Securities boosted their price target on Deckers Outdoor from $150.00 to $175.00 and gave the company a "buy" rating in a report on Tuesday, May 20th. Piper Sandler reduced their target price on Deckers Outdoor from $210.00 to $100.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Raymond James reaffirmed a "strong-buy" rating on shares of Deckers Outdoor in a research note on Friday, May 23rd. UBS Group set a $169.00 target price on Deckers Outdoor and gave the stock a "buy" rating in a research note on Friday, May 23rd. Finally, Telsey Advisory Group downgraded Deckers Outdoor from an "outperform" rating to a "market perform" rating in a research note on Friday, May 23rd. Fourteen analysts have rated the stock with 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, Deckers Outdoor currently has a consensus rating of "Hold" and an average target price of $134.68.

Deckers Outdoor Trading Down 5.9%

NYSE:DECK traded down $6.32 during trading hours on Friday, hitting $101.38. The company had a trading volume of 3,316,054 shares, compared to its average volume of 2,607,595. The company has a 50-day moving average of $112.42 and a 200 day moving average of $150.28. The company has a market cap of $15.15 billion, a P/E ratio of 16.44, a P/E/G ratio of 1.68 and a beta of 1.02. Deckers Outdoor Co. has a 1 year low of $93.72 and a 1 year high of $223.98.

Deckers Outdoor (NYSE:DECK - Get Free Report) last issued its earnings results 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. The company had revenue of $1.02 billion during 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 firm's quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.82 EPS. On average, analysts forecast that Deckers Outdoor Co. will post 5.89 earnings per share for the current year.

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

Insider Activity

In other Deckers Outdoor news, insider Angela Ogbechie sold 6,244 shares of the 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 sale, the insider now owns 19,980 shares of the company's stock, valued at $2,075,722.20. This trade represents a 23.81% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Maha Saleh Ibrahim sold 300 shares of the firm's 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 sale, the director now directly owns 10,681 shares in the company, valued at $1,165,083.48. This trade represents a 2.73% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company's stock.

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.