Fulton Bank N.A. Cuts Stock Holdings in Deckers Outdoor Co. (NYSE:DECK)

Fulton Bank N.A. reduced its position in shares of Deckers Outdoor Co. (NYSE:DECK) by 8.1% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 9,315 shares of the textile maker’s stock after selling 824 shares during the period. Fulton Bank N.A.’s holdings in Deckers Outdoor were worth $1,042,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Mpwm Advisory Solutions LLC purchased a new stake in shares of Deckers Outdoor in the fourth quarter valued at approximately $26,000. Headlands Technologies LLC purchased a new stake in shares of Deckers Outdoor in the fourth quarter valued at approximately $29,000. Vega Investment Solutions purchased a new stake in shares of Deckers Outdoor in the fourth quarter valued at approximately $29,000. Whittier Trust Co. of Nevada Inc. grew its position in Deckers Outdoor by 250.0% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 168 shares of the textile maker’s stock worth $34,000 after acquiring an additional 120 shares during the period. Finally, Fourth Dimension Wealth LLC purchased a new position in Deckers Outdoor in the fourth quarter worth approximately $41,000. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Stifel Nicolaus lowered their price objective on Deckers Outdoor from $185.00 to $127.00 and set a “hold” rating for the company in a research report on Thursday, April 10th. Cowen reiterated a “buy” rating on shares of Deckers Outdoor in a research report on Tuesday, May 20th. Barclays reiterated an “overweight” rating and issued a $128.00 price objective (down from $129.00) on shares of Deckers Outdoor in a research report on Thursday, May 22nd. KGI Securities upgraded Deckers Outdoor to a “hold” rating in a research report on Monday, May 26th. Finally, Piper Sandler lowered their price objective on Deckers Outdoor from $210.00 to $100.00 and set a “neutral” rating for the company in a research report on Friday, April 11th. Thirteen analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Deckers Outdoor currently has a consensus rating of “Moderate Buy” and an average target price of $134.68.

Deckers Outdoor Trading Up 0.7%

Shares of NYSE DECK opened at $105.76 on Wednesday. The stock has a market cap of $15.80 billion, a P/E ratio of 17.15, a PEG 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. The business’s fifty day simple moving average is $112.58 and its 200-day simple moving average is $154.62.

Deckers Outdoor (NYSE:DECK) last announced 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. 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 company’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the firm earned $0.82 earnings per share. On average, equities analysts forecast that Deckers Outdoor Co. will post 5.89 EPS for the current fiscal year.

Deckers Outdoor declared that its board has approved a stock repurchase plan on Thursday, May 22nd that allows the company to repurchase $2.25 billion in outstanding shares. This repurchase authorization allows the textile maker to buy up to 11.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Activity

In related news, Director Maha Saleh Ibrahim sold 300 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $134.48, for a total value of $40,344.00. Following the transaction, the director now owns 10,388 shares of the company’s stock, valued at $1,396,978.24. This represents a 2.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 0.40% of the company’s stock.

Deckers Outdoor 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.