Marks Group Wealth Management Inc Makes New Investment in Deckers Outdoor Co. (NYSE:DECK)

Marks Group Wealth Management Inc acquired a new stake in shares of Deckers Outdoor Co. (NYSE:DECK) during the fourth quarter, HoldingsChannel reports. The fund acquired 9,253 shares of the textile maker’s stock, valued at approximately $6,185,000.

Other hedge funds also recently made changes to their positions in the company. Advisor Resource Council purchased a new stake in shares of Deckers Outdoor in the fourth quarter worth about $970,000. Advisors Preferred LLC bought a new position in shares of Deckers Outdoor during the 4th quarter valued at approximately $2,271,000. Louisiana State Employees Retirement System purchased a new position in shares of Deckers Outdoor in the fourth quarter valued at $4,813,000. First Trust Direct Indexing L.P. increased its position in Deckers Outdoor by 12.5% in the third quarter. First Trust Direct Indexing L.P. now owns 458 shares of the textile maker’s stock worth $235,000 after purchasing an additional 51 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new stake in Deckers Outdoor during the fourth quarter valued at $73,722,000. 97.79% of the stock is currently owned by institutional investors.

Deckers Outdoor Stock Up 2.4 %

Shares of NYSE:DECK opened at $829.94 on Wednesday. The business’s 50 day moving average is $884.06 and its 200 day moving average is $743.08. The stock has a market cap of $21.30 billion, a P/E ratio of 29.85, a price-to-earnings-growth ratio of 1.44 and a beta of 1.01. Deckers Outdoor Co. has a 52-week low of $424.36 and a 52-week high of $956.17.

Deckers Outdoor (NYSE:DECK) last posted its quarterly earnings results on Thursday, February 1st. The textile maker reported $15.11 EPS for the quarter, beating the consensus estimate of $11.40 by $3.71. The business had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.45 billion. Deckers Outdoor had a net margin of 17.57% and a return on equity of 38.77%. The company’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $10.48 EPS. On average, sell-side analysts anticipate that Deckers Outdoor Co. will post 26.87 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Angela Ogbechie sold 313 shares of the company’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $844.13, for a total transaction of $264,212.69. Following the transaction, the insider now directly owns 4,027 shares of the company’s stock, valued at approximately $3,399,311.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Deckers Outdoor news, CFO Steven J. Fasching sold 5,000 shares of Deckers Outdoor stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $844.40, for a total transaction of $4,222,000.00. Following the completion of the sale, the chief financial officer now owns 29,291 shares of the company’s stock, valued at approximately $24,733,320.40. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Angela Ogbechie sold 313 shares of the stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $844.13, for a total value of $264,212.69. Following the completion of the transaction, the insider now directly owns 4,027 shares in the company, valued at $3,399,311.51. The disclosure for this sale can be found here. Insiders sold a total of 30,464 shares of company stock worth $26,229,683 in the last 90 days. 0.70% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on DECK shares. Truist Financial reissued a “hold” rating and issued a $864.00 price objective (down from $983.00) on shares of Deckers Outdoor in a research note on Wednesday, April 10th. UBS Group raised their price objective on Deckers Outdoor from $950.00 to $1,150.00 and gave the company a “buy” rating in a research note on Friday, February 2nd. Piper Sandler increased their price target on Deckers Outdoor from $650.00 to $730.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. Stifel Nicolaus raised their price target on Deckers Outdoor from $709.00 to $775.00 and gave the stock a “hold” rating in a research report on Friday, February 2nd. Finally, KeyCorp assumed coverage on shares of Deckers Outdoor in a research report on Wednesday, February 7th. They set an “overweight” rating and a $960.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Deckers Outdoor currently has an average rating of “Moderate Buy” and an average price target of $890.93.

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 and apparel for ultra-runners and athletes under the Hoka brand; and sandals, shoes, and boots under the Teva brand name.