Sumitomo Mitsui Trust Group Inc. Sells 8,939 Shares of Deckers Outdoor Corporation $DECK

Sumitomo Mitsui Trust Group Inc. lessened its holdings in Deckers Outdoor Corporation (NYSE:DECK) by 2.7% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 327,711 shares of the textile maker’s stock after selling 8,939 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Deckers Outdoor were worth $25,607,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Danske Bank A S acquired a new position in shares of Deckers Outdoor during the second quarter worth about $46,235,000. CX Institutional increased its stake in shares of Deckers Outdoor by 41.0% during the third quarter. CX Institutional now owns 65,089 shares of the textile maker’s stock worth $5,343,000 after buying an additional 18,921 shares during the period. TD Waterhouse Canada Inc. raised its holdings in Deckers Outdoor by 2,708.0% in the third quarter. TD Waterhouse Canada Inc. now owns 30,663 shares of the textile maker’s stock valued at $2,396,000 after acquiring an additional 29,571 shares in the last quarter. Private Wealth Advisors LLC acquired a new stake in Deckers Outdoor in the second quarter valued at approximately $4,634,000. Finally, State of Alaska Department of Revenue raised its holdings in Deckers Outdoor by 1,365.9% in the third quarter. State of Alaska Department of Revenue now owns 203,898 shares of the textile maker’s stock valued at $15,933,000 after acquiring an additional 189,989 shares in the last quarter. Hedge funds and other institutional investors own 97.79% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. BNP Paribas Exane decreased their price target on shares of Deckers Outdoor from $184.00 to $122.00 and set an “outperform” rating for the company in a research note on Friday, October 23rd. Needham & Company LLC dropped their price objective on shares of Deckers Outdoor from $125.00 to $96.00 and set a “buy” rating on the stock in a research report on Friday, October 23rd. Evercore dropped their price objective on shares of Deckers Outdoor from $108.00 to $90.00 in a research report on Friday, October 23rd. Argus reduced their price objective on shares of Deckers Outdoor from $128.00 to $102.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Sanford C. Bernstein decreased their price objective on shares of Deckers Outdoor from $105.00 to $100.00 in a research report on Friday, October 23rd. Ten equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $104.57.

Deckers Outdoor Stock Performance

NYSE:DECK opened at $87.68 on Friday. The stock has a 50-day simple moving average of $82.33 and a 200-day simple moving average of $98.96. The stock has a market cap of $11.70 billion, a P/E ratio of 12.27, a P/E/G ratio of 1.43 and a beta of 1.10. Deckers Outdoor Corporation has a 1 year low of $77.20 and a 1 year high of $122.29.

Deckers Outdoor (NYSE:DECK) last released its quarterly earnings data on Thursday, October 22nd. The textile maker reported $2.31 EPS for the quarter, beating analysts’ consensus estimates of $1.79 by $0.52. Deckers Outdoor had a return on equity of 42.42% and a net margin of 19.18%. The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the prior year, the business posted $1.82 EPS. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, equities research analysts predict that Deckers Outdoor Corporation will post 7.90 EPS for the current year.

About Deckers Outdoor

Deckers Outdoor Corporation, doing business as Deckers Brands (NYSE: DECK), is a global footwear, apparel and accessories company. Its portfolio includes UGG, known for sheepskin and casual footwear; HOKA, which focuses on performance and running shoes; Teva, which offers outdoor and sport sandals and footwear; and Koolaburra by UGG, a lifestyle footwear brand.

The company sells its products through department and specialty stores, independent retailers, international distributors, company-owned retail stores and e-commerce websites.