JPMorgan Chase & Co. Sells 521,712 Shares of Deckers Outdoor Co. (NYSE:DECK)

JPMorgan Chase & Co. trimmed its position in Deckers Outdoor Co. (NYSE:DECK) by 40.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 775,182 shares of the textile maker’s stock after selling 521,712 shares during the period. JPMorgan Chase & Co.’s holdings in Deckers Outdoor were worth $157,432,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Global Trust Asset Management LLC purchased a new position in Deckers Outdoor during the fourth quarter worth about $31,000. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Deckers Outdoor by 250.0% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 168 shares of the textile maker’s stock worth $34,000 after purchasing an additional 120 shares in the last quarter. Fortitude Family Office LLC increased its position in shares of Deckers Outdoor by 825.0% in the fourth quarter. Fortitude Family Office LLC now owns 222 shares of the textile maker’s stock worth $45,000 after purchasing an additional 198 shares during the last quarter. Rakuten Securities Inc. raised its stake in Deckers Outdoor by 59.8% in the fourth quarter. Rakuten Securities Inc. now owns 350 shares of the textile maker’s stock valued at $71,000 after purchasing an additional 131 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its position in Deckers Outdoor by 107.4% during the fourth quarter. Parkside Financial Bank & Trust now owns 365 shares of the textile maker’s stock valued at $74,000 after purchasing an additional 189 shares during the last quarter. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Deckers Outdoor

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

Analyst Ratings Changes

Several research firms have recently weighed in on DECK. Truist Financial lowered their price objective 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. UBS Group upped their price objective on Deckers Outdoor from $267.00 to $284.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Bank of America raised their price objective on Deckers Outdoor from $182.00 to $217.00 and gave the company a “neutral” rating in a report on Thursday, January 23rd. Evercore ISI increased their price target on shares of Deckers Outdoor from $195.00 to $235.00 and gave the company an “outperform” rating in a research report on Thursday, January 9th. Finally, Citigroup raised shares of Deckers Outdoor from a “neutral” rating to a “buy” rating and set a $215.00 price target on the stock in a research note on Friday, February 7th. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $197.41.

Deckers Outdoor Stock Performance

NYSE DECK opened at $113.43 on Wednesday. Deckers Outdoor Co. has a fifty-two week low of $107.37 and a fifty-two week high of $223.98. The stock has a market cap of $17.22 billion, a P/E ratio of 18.39, a price-to-earnings-growth ratio of 1.68 and a beta of 1.10. The stock has a 50 day simple moving average of $149.47 and a two-hundred day simple moving average of $170.86.

Deckers Outdoor (NYSE:DECK) last released its quarterly earnings results 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 net margin of 19.14% and a return on equity of 41.71%. Sell-side analysts predict that Deckers Outdoor Co. will post 5.89 earnings per share 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.