Retirement Systems of Alabama Raises Stake in Deckers Outdoor Co. (NYSE:DECK)

Retirement Systems of Alabama increased its position in shares of Deckers Outdoor Co. (NYSE:DECK) by 3,428.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 199,753 shares of the textile maker’s stock after purchasing an additional 194,092 shares during the period. Retirement Systems of Alabama owned 0.13% of Deckers Outdoor worth $31,851,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. FMR LLC grew its position in shares of Deckers Outdoor by 499.2% during the third quarter. FMR LLC now owns 22,869,485 shares of the textile maker’s stock valued at $3,646,539,000 after purchasing an additional 19,053,113 shares in the last quarter. State Street Corp grew its holdings in Deckers Outdoor by 513.8% during the 3rd quarter. State Street Corp now owns 6,584,305 shares of the textile maker’s stock valued at $1,049,867,000 after buying an additional 5,511,513 shares in the last quarter. Geode Capital Management LLC increased its stake in Deckers Outdoor by 509.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,059,919 shares of the textile maker’s stock worth $646,316,000 after acquiring an additional 3,393,420 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Deckers Outdoor by 529.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,277,355 shares of the textile maker’s stock worth $203,674,000 after acquiring an additional 1,074,263 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec boosted its position in shares of Deckers Outdoor by 904.6% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,011,073 shares of the textile maker’s stock valued at $161,216,000 after acquiring an additional 910,430 shares during the last quarter. Institutional investors own 97.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Barclays increased their price objective on shares of Deckers Outdoor from $180.00 to $190.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Piper Sandler set a $166.00 price target on shares of Deckers Outdoor in a report on Thursday, October 17th. UBS Group boosted their price objective on shares of Deckers Outdoor from $226.00 to $232.00 and gave the company a “buy” rating in a research report on Friday, October 25th. StockNews.com lowered shares of Deckers Outdoor from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, September 25th. Finally, Bank of America boosted their price target on Deckers Outdoor from $170.00 to $182.00 and gave the company a “neutral” rating in a report on Friday, October 25th. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $158.59.

Insider Activity at Deckers Outdoor

In other Deckers Outdoor news, insider Angela Ogbechie sold 1,278 shares of the company’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $163.24, for a total value of $208,620.72. Following the sale, the insider now directly owns 29,628 shares of the company’s stock, valued at approximately $4,836,474.72. This represents a 4.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Steven J. Fasching sold 9,198 shares of the business’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $166.67, for a total transaction of $1,533,030.66. Following the completion of the transaction, the chief financial officer now owns 161,838 shares of the company’s stock, valued at approximately $26,973,539.46. This represents a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 84,234 shares of company stock valued at $15,248,513 in the last ninety days. Corporate insiders own 0.40% of the company’s stock.

Deckers Outdoor Stock Performance

NYSE:DECK opened at $203.09 on Thursday. The company’s 50-day simple moving average is $189.28 and its 200-day simple moving average is $108.76. Deckers Outdoor Co. has a fifty-two week low of $108.65 and a fifty-two week high of $214.70. The stock has a market capitalization of $30.85 billion, a P/E ratio of 35.71, a P/E/G ratio of 2.87 and a beta of 1.08.

Deckers Outdoor (NYSE:DECK) last announced its earnings results on Thursday, October 24th. The textile maker reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.35. The company had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.20 billion. Deckers Outdoor had a net margin of 18.95% and a return on equity of 41.48%. Deckers Outdoor’s revenue was up 20.1% compared to the same quarter last year. During the same period last year, the firm earned $1.14 earnings per share. On average, research analysts forecast that Deckers Outdoor Co. will post 5.49 EPS for the current year.

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.