Modern Wealth Management LLC Invests $516,000 in Deckers Outdoor Co. (NYSE:DECK)

Modern Wealth Management LLC purchased a new stake in Deckers Outdoor Co. (NYSE:DECK) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 2,540 shares of the textile maker’s stock, valued at approximately $516,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Deckers Outdoor by 1.3% during the 4th 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 last quarter. State Street Corp boosted its holdings in Deckers Outdoor by 513.8% in the third quarter. State Street Corp now owns 6,584,305 shares of the textile maker’s stock worth $1,049,867,000 after purchasing an additional 5,511,513 shares in the last quarter. Geode Capital Management LLC increased its position in Deckers Outdoor by 509.1% during the third quarter. Geode Capital Management LLC now owns 4,059,919 shares of the textile maker’s stock worth $646,316,000 after buying an additional 3,393,420 shares during the last quarter. American Century Companies Inc. raised its holdings in Deckers Outdoor by 6.4% during the fourth quarter. American Century Companies Inc. now owns 1,306,132 shares of the textile maker’s stock valued at $265,262,000 after buying an additional 78,623 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of Deckers Outdoor by 929.0% in the third quarter. JPMorgan Chase & Co. now owns 1,296,894 shares of the textile maker’s stock worth $206,790,000 after buying an additional 1,170,855 shares during the last quarter. Institutional investors and hedge funds own 97.79% of the company’s stock.

Insider Buying and Selling at Deckers Outdoor

In other news, Director David Powers sold 25,000 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $138.84, for a total value of $3,471,000.00. Following the completion of the sale, the director now directly owns 241,777 shares in the company, valued at approximately $33,568,318.68. This trade represents a 9.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Maha Saleh Ibrahim sold 300 shares of the company’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $134.48, for a total transaction of $40,344.00. Following the transaction, the director now owns 10,388 shares in the company, valued at approximately $1,396,978.24. This trade represents a 2.81 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Telsey Advisory Group reissued an “outperform” rating and set a $240.00 price objective on shares of Deckers Outdoor in a report on Friday, January 31st. Truist Financial dropped their price target on shares of Deckers Outdoor from $235.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Barclays raised their target price on shares of Deckers Outdoor from $190.00 to $231.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. Jefferies Financial Group boosted their target price on shares of Deckers Outdoor from $180.00 to $200.00 and gave the stock a “hold” rating in a research report on Tuesday, January 28th. Finally, Wells Fargo & Company decreased their price target on shares of Deckers Outdoor from $215.00 to $210.00 and set an “equal weight” rating for the company in a report on Friday, January 31st. Nine research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Deckers Outdoor has an average rating of “Moderate Buy” and a consensus price target of $197.41.

Deckers Outdoor Stock Performance

NYSE:DECK opened at $116.95 on Friday. The company has a market capitalization of $17.75 billion, a price-to-earnings ratio of 18.96, a PEG ratio of 1.68 and a beta of 1.10. The company has a 50-day moving average of $155.43 and a 200-day moving average of $167.03. Deckers Outdoor Co. has a 52 week low of $112.10 and a 52 week high of $223.98.

Deckers Outdoor (NYSE:DECK) last released its quarterly earnings data on Thursday, February 6th. The textile maker reported $3.00 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.56. Deckers Outdoor had a return on equity of 41.71% and a net margin of 19.14%. Sell-side analysts forecast that Deckers Outdoor Co. will post 5.89 EPS for the current year.

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.