Kestra Investment Management LLC Sells 5,802 Shares of Deckers Outdoor Corporation $DECK

Kestra Investment Management LLC lowered its holdings in Deckers Outdoor Corporation (NYSE:DECK) by 51.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,467 shares of the textile maker’s stock after selling 5,802 shares during the period. Kestra Investment Management LLC’s holdings in Deckers Outdoor were worth $427,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of DECK. BlackRock Inc. purchased a new position in shares of Deckers Outdoor during the second quarter worth about $1,343,613,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Deckers Outdoor by 21.5% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,116,595 shares of the textile maker’s stock valued at $210,157,000 after purchasing an additional 374,923 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Deckers Outdoor by 123.2% in the first quarter. Bank of New York Mellon Corp now owns 1,803,021 shares of the textile maker’s stock valued at $180,464,000 after purchasing an additional 995,099 shares in the last quarter. Amundi lifted its position in Deckers Outdoor by 13.2% during the first quarter. Amundi now owns 1,611,174 shares of the textile maker’s stock valued at $161,262,000 after purchasing an additional 187,702 shares during the last quarter. Finally, Caisse de depot et placement du Quebec bought a new stake in Deckers Outdoor during the second quarter valued at approximately $119,656,000. Institutional investors own 97.79% of the company’s stock.

Deckers Outdoor Stock Performance

DECK stock opened at $88.42 on Thursday. The company has a market capitalization of $11.80 billion, a PE ratio of 11.73, a price-to-earnings-growth ratio of 1.44 and a beta of 1.10. Deckers Outdoor Corporation has a one year low of $77.20 and a one year high of $122.29. The company’s 50 day moving average price is $82.53 and its two-hundred day moving average price is $98.74.

Deckers Outdoor (NYSE:DECK) last announced its quarterly earnings data on Thursday, October 22nd. The textile maker reported $2.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.52. Deckers Outdoor had a net margin of 19.18% and a return on equity of 42.42%. The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.51 billion. During the same period in the previous year, the business posted $1.82 EPS. The business’s quarterly revenue was up 3.4% on a year-over-year basis. On average, research analysts predict that Deckers Outdoor Corporation will post 7.89 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on DECK shares. Wells Fargo & Company set a $70.00 price target on shares of Deckers Outdoor and gave the stock an “underweight” rating in a research note on Friday, October 23rd. Piper Sandler cut shares of Deckers Outdoor from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $100.00 to $75.00 in a research report on Friday, October 23rd. Stifel Nicolaus dropped their price objective on shares of Deckers Outdoor from $133.00 to $113.00 and set a “buy” rating for the company in a report on Friday, October 23rd. Wolfe Research began coverage on shares of Deckers Outdoor in a research report on Wednesday, October 21st. They issued a “peer perform” rating for the company. Finally, Raymond James Financial reduced their target price on Deckers Outdoor from $105.00 to $92.00 in a research note on Friday, October 23rd. Ten investment analysts have rated the stock with a Buy rating, twelve have issued a Hold rating and four have issued a Sell rating to the company’s stock. According to data from MarketBeat, Deckers Outdoor currently has an average rating of “Hold” and an average target price of $103.86.

Deckers Outdoor Profile

Deckers Outdoor Corporation designs, markets and distributes footwear, apparel and accessories through a portfolio of consumer brands. Its best-known brands include UGG, HOKA and Teva, which serve customers seeking products for lifestyle, performance and outdoor use. Founded in 1973 in California, Deckers began as a maker of sandals. The company now sells its products worldwide through wholesale partners as well as its own retail stores and e-commerce channels, serving markets across the Americas, Europe, the Middle East and Africa, and Asia-Pacific.