Marks Group Wealth Management Inc Trims Stake in Deckers Outdoor Co. (NYSE:DECK)

Marks Group Wealth Management Inc lessened its holdings in Deckers Outdoor Co. (NYSE:DECK) by 6.0% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 54,492 shares of the textile maker’s stock after selling 3,466 shares during the quarter. Deckers Outdoor comprises 1.1% of Marks Group Wealth Management Inc’s investment portfolio, making the stock its 14th biggest position. Marks Group Wealth Management Inc’s holdings in Deckers Outdoor were worth $11,067,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. AMF Tjanstepension AB increased its holdings in shares of Deckers Outdoor by 495.7% in the 3rd quarter. AMF Tjanstepension AB now owns 952,803 shares of the textile maker’s stock worth $151,924,000 after buying an additional 792,849 shares during the last quarter. CWM LLC grew its position in Deckers Outdoor by 491.7% in the third quarter. CWM LLC now owns 8,615 shares of the textile maker’s stock worth $1,374,000 after acquiring an additional 7,159 shares in the last quarter. Ritholtz Wealth Management increased its stake in Deckers Outdoor by 566.2% in the third quarter. Ritholtz Wealth Management now owns 2,658 shares of the textile maker’s stock valued at $424,000 after acquiring an additional 2,259 shares during the last quarter. Exchange Traded Concepts LLC raised its position in Deckers Outdoor by 374.9% during the third quarter. Exchange Traded Concepts LLC now owns 4,929 shares of the textile maker’s stock valued at $786,000 after purchasing an additional 3,891 shares in the last quarter. Finally, Empirical Asset Management LLC bought a new stake in Deckers Outdoor during the third quarter worth about $806,000. Institutional investors own 97.79% of the company’s stock.

Deckers Outdoor Stock Performance

Shares of DECK stock opened at $157.81 on Wednesday. The firm has a market cap of $23.95 billion, a P/E ratio of 25.58, a P/E/G ratio of 1.93 and a beta of 1.07. The business’s 50 day moving average price is $202.74 and its 200-day moving average price is $143.80. Deckers Outdoor Co. has a fifty-two week low of $131.39 and a fifty-two week high of $223.98.

Deckers Outdoor (NYSE:DECK) last issued its quarterly earnings data on Thursday, February 6th. The textile maker reported $3.00 EPS for the quarter, topping the consensus estimate of $2.44 by $0.56. Deckers Outdoor had a net margin of 19.14% and a return on equity of 41.71%. As a group, equities analysts predict that Deckers Outdoor Co. will post 5.89 EPS for the current year.

Insider Buying and Selling at Deckers Outdoor

In related news, insider Thomas Garcia sold 18,000 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $175.28, for a total value of $3,155,040.00. Following the completion of the transaction, the insider now directly owns 63,642 shares in the company, valued at $11,155,169.76. This trade represents a 22.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Caroti Stefano sold 15,000 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $175.73, for a total transaction of $2,635,950.00. Following the sale, the chief executive officer now directly owns 273,540 shares in the company, valued at $48,069,184.20. The trade was a 5.20 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 55,956 shares of company stock valued at $10,387,731. 0.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on DECK shares. Evercore ISI upped their target price on Deckers Outdoor from $195.00 to $235.00 and gave the stock an “outperform” rating in a research note on Thursday, January 9th. Truist Financial cut their price objective on shares of Deckers Outdoor from $235.00 to $225.00 and set a “buy” rating for the company in a research note on Friday, January 31st. BTIG Research cut shares of Deckers Outdoor from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 22nd. KeyCorp upped their price target on shares of Deckers Outdoor from $213.00 to $230.00 and gave the company an “overweight” rating in a research report on Thursday, January 23rd. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Deckers Outdoor in a research note on Friday, January 31st. 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 presently has an average rating of “Moderate Buy” and an average price target of $197.41.

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.