Fred Alger Management LLC Decreases Stake in Deckers Outdoor Co. (NYSE:DECK)

Fred Alger Management LLC lessened its stake in Deckers Outdoor Co. (NYSE:DECK) by 41.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 32,172 shares of the textile maker’s stock after selling 22,555 shares during the quarter. Fred Alger Management LLC’s holdings in Deckers Outdoor were worth $6,534,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in DECK. Norges Bank purchased a new position in Deckers Outdoor in the fourth quarter valued at about $392,583,000. JPMorgan Chase & Co. raised its holdings in Deckers Outdoor by 929.0% during the third quarter. JPMorgan Chase & Co. now owns 1,296,894 shares of the textile maker’s stock worth $206,790,000 after purchasing an additional 1,170,855 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Deckers Outdoor during the fourth quarter worth $185,451,000. Envestnet Asset Management Inc. grew its holdings in Deckers Outdoor by 101.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,003,743 shares of the textile maker’s stock valued at $203,850,000 after purchasing an additional 505,139 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its position in shares of Deckers Outdoor by 507.3% in the fourth quarter. Los Angeles Capital Management LLC now owns 593,020 shares of the textile maker’s stock valued at $120,436,000 after buying an additional 495,364 shares in the last quarter. Institutional investors and hedge funds own 97.79% of the company’s stock.

Insider Activity at Deckers Outdoor

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

Deckers Outdoor Stock Performance

DECK opened at $121.18 on Friday. Deckers Outdoor Co. has a 1 year low of $93.72 and a 1 year high of $223.98. The company’s 50 day simple moving average is $114.18 and its 200 day simple moving average is $160.72. The stock has a market capitalization of $18.39 billion, a PE ratio of 19.65, a P/E/G ratio of 1.68 and a beta of 1.11.

Deckers Outdoor (NYSE:DECK) last announced its quarterly earnings results on Thursday, February 6th. The textile maker reported $3.00 earnings per share for the quarter, beating analysts’ consensus estimates 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, sell-side analysts expect that Deckers Outdoor Co. will post 5.89 earnings per share for the current fiscal year.

Analysts Set New Price Targets

DECK has been the topic of a number of research reports. 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 note on Friday, January 31st. Bank of America increased their price target on shares of Deckers Outdoor from $182.00 to $217.00 and gave the company a “neutral” rating in a research report on Thursday, January 23rd. Barclays lifted their price objective on Deckers Outdoor from $190.00 to $231.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. UBS Group increased their target price on Deckers Outdoor from $150.00 to $158.00 and gave the company a “buy” rating in a report on Wednesday. Finally, KeyCorp cut their price target on Deckers Outdoor from $230.00 to $150.00 and set an “overweight” rating for the company in a report on Tuesday, April 29th. Nine research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Deckers Outdoor has a consensus rating of “Moderate Buy” and an average target price of $167.55.

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.