JPMorgan Chase & Co. Buys 1,170,855 Shares of Deckers Outdoor Co. (NYSE:DECK)

JPMorgan Chase & Co. grew its stake in Deckers Outdoor Co. (NYSE:DECK) by 929.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,296,894 shares of the textile maker’s stock after acquiring an additional 1,170,855 shares during the quarter. JPMorgan Chase & Co. owned 0.85% of Deckers Outdoor worth $206,790,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. FMR LLC boosted its stake in Deckers Outdoor by 499.2% in the 3rd quarter. FMR LLC now owns 22,869,485 shares of the textile maker’s stock worth $3,646,539,000 after purchasing an additional 19,053,113 shares in the last quarter. State Street Corp lifted its stake in shares of 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 buying an additional 5,511,513 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of 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 valued at $646,316,000 after buying an additional 3,393,420 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Deckers Outdoor by 529.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,277,355 shares of the textile maker’s stock valued at $203,674,000 after acquiring an additional 1,074,263 shares in the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec raised its holdings in Deckers Outdoor by 904.6% in the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 1,011,073 shares of the textile maker’s stock worth $161,216,000 after acquiring an additional 910,430 shares during the last quarter. 97.79% of the stock is owned by hedge funds and other institutional investors.

Deckers Outdoor Price Performance

DECK opened at $205.76 on Tuesday. The company has a 50 day simple moving average of $187.25 and a two-hundred day simple moving average of $106.87. The firm has a market cap of $31.26 billion, a P/E ratio of 36.18, a PEG ratio of 2.87 and a beta of 1.08. Deckers Outdoor Co. has a 1-year low of $108.65 and a 1-year high of $214.70.

Deckers Outdoor (NYSE:DECK) last issued its quarterly earnings results on Thursday, October 24th. The textile maker reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.24 by $0.35. Deckers Outdoor had a return on equity of 41.48% and a net margin of 18.95%. The business had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the business posted $1.14 EPS. Deckers Outdoor’s revenue for the quarter was up 20.1% compared to the same quarter last year. Equities analysts anticipate that Deckers Outdoor Co. will post 5.49 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. Piper Sandler set a $166.00 target price on Deckers Outdoor in a report on Thursday, October 17th. TD Cowen boosted their target price on Deckers Outdoor from $178.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Stifel Nicolaus raised their price target on shares of Deckers Outdoor from $147.83 to $181.00 and gave the company a “hold” rating in a report on Friday, October 25th. Truist Financial boosted their price objective on shares of Deckers Outdoor from $205.00 to $230.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Finally, Guggenheim initiated coverage on shares of Deckers Outdoor in a report on Wednesday, October 9th. They issued a “neutral” rating on the stock. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $158.59.

Insiders Place Their Bets

In other news, CEO Caroti Stefano sold 14,274 shares of the business’s stock in a transaction on Wednesday, December 11th. The shares were sold at an average price of $208.34, for a total value of $2,973,845.16. Following the transaction, the chief executive officer now owns 259,266 shares of the company’s stock, valued at approximately $54,015,478.44. The trade was a 5.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Steven J. Fasching sold 9,198 shares of the firm’s stock in a transaction on Friday, October 4th. The shares were sold at an average price of $166.67, for a total transaction of $1,533,030.66. Following the transaction, the chief financial officer now directly owns 161,838 shares of the company’s stock, valued at $26,973,539.46. The trade was a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 84,234 shares of company stock worth $15,248,513 in the last three months. 0.40% of the stock is owned by company insiders.

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.