JPMorgan Chase & Co. lessened its stake in Deckers Outdoor Corp (NYSE:DECK) by 35.4% in the 1st quarter, Holdings Channel reports. The institutional investor owned 433,074 shares of the textile maker’s stock after selling 236,998 shares during the quarter. JPMorgan Chase & Co.’s holdings in Deckers Outdoor were worth $63,657,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC increased its position in shares of Deckers Outdoor by 11.7% in the fourth quarter. FMR LLC now owns 1,128,224 shares of the textile maker’s stock worth $144,357,000 after purchasing an additional 117,913 shares during the period. Norges Bank bought a new position in shares of Deckers Outdoor in the fourth quarter worth $53,144,000. Lord Abbett & CO. LLC bought a new position in shares of Deckers Outdoor in the fourth quarter worth $49,054,000. APG Asset Management N.V. increased its position in shares of Deckers Outdoor by 29.0% in the fourth quarter. APG Asset Management N.V. now owns 360,300 shares of the textile maker’s stock worth $40,328,000 after purchasing an additional 80,900 shares during the period. Finally, Deutsche Bank AG increased its position in shares of Deckers Outdoor by 25.3% in the fourth quarter. Deutsche Bank AG now owns 339,895 shares of the textile maker’s stock worth $43,488,000 after purchasing an additional 68,610 shares during the period.
DECK has been the topic of a number of recent analyst reports. Pivotal Research raised their price target on Deckers Outdoor to $152.00 in a research report on Friday. ValuEngine upgraded Deckers Outdoor from a “hold” rating to a “buy” rating in a research report on Monday, April 15th. Canaccord Genuity restated a “buy” rating and issued a $164.00 price target (up previously from $143.00) on shares of Deckers Outdoor in a research report on Friday, February 1st. Bank of America upgraded Deckers Outdoor from a “neutral” rating to a “buy” rating and raised their price target for the stock from $150.00 to $180.00 in a research report on Tuesday, May 21st. Finally, Zacks Investment Research cut Deckers Outdoor from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, April 3rd. Thirteen investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $139.75.
Deckers Outdoor (NYSE:DECK) last released its quarterly earnings data on Thursday, May 23rd. The textile maker reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.75. The business had revenue of $394.10 million for the quarter, compared to analyst estimates of $378.82 million. Deckers Outdoor had a return on equity of 27.32% and a net margin of 13.08%. Deckers Outdoor’s revenue was down 1.6% compared to the same quarter last year. During the same period last year, the firm posted $0.50 earnings per share. Equities analysts predict that Deckers Outdoor Corp will post 8.4 EPS for the current fiscal year.
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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. It offers premium footwear, apparel, and accessories under the UGG brand name; sandals, shoes, and boots under the Teva brand name; and footwear under the Sanuk brand name.
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