Cornerstone Wealth Management LLC acquired a new stake in Deckers Outdoor Corp (NYSE:DECK) in the second quarter, Holdings Channel reports. The fund acquired 18,210 shares of the textile maker’s stock, valued at approximately $159,000.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Atria Investments LLC grew its stake in shares of Deckers Outdoor by 24.4% in the second quarter. Atria Investments LLC now owns 3,138 shares of the textile maker’s stock valued at $354,000 after buying an additional 616 shares in the last quarter. James Investment Research Inc. grew its stake in shares of Deckers Outdoor by 7.7% in the second quarter. James Investment Research Inc. now owns 72,477 shares of the textile maker’s stock valued at $8,182,000 after buying an additional 5,160 shares in the last quarter. Amalgamated Bank grew its stake in shares of Deckers Outdoor by 15.4% in the second quarter. Amalgamated Bank now owns 5,198 shares of the textile maker’s stock valued at $587,000 after buying an additional 693 shares in the last quarter. Swiss National Bank grew its stake in shares of Deckers Outdoor by 2.2% in the first quarter. Swiss National Bank now owns 55,700 shares of the textile maker’s stock valued at $5,015,000 after buying an additional 1,200 shares in the last quarter. Finally, Pinnacle Financial Partners Inc. acquired a new stake in shares of Deckers Outdoor in the first quarter valued at $181,000.
A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus cut Deckers Outdoor from a “buy” rating to a “hold” rating and lifted their price objective for the company from $120.00 to $123.00 in a research note on Friday, July 27th. They noted that the move was a valuation call. Jefferies Financial Group reaffirmed a “hold” rating and issued a $116.00 price objective on shares of Deckers Outdoor in a research note on Friday, July 27th. Telsey Advisory Group lifted their price objective on Deckers Outdoor from $125.00 to $135.00 and gave the company an “outperform” rating in a research note on Friday, July 27th. Buckingham Research lifted their price objective on Deckers Outdoor from $99.00 to $109.00 and gave the company a “neutral” rating in a research note on Thursday. Finally, Pivotal Research set a $119.00 price objective on Deckers Outdoor and gave the company a “hold” rating in a research note on Wednesday, July 25th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $108.85.
Deckers Outdoor (NYSE:DECK) last released its earnings results on Thursday, July 26th. The textile maker reported ($0.98) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($1.42) by $0.44. The firm had revenue of $250.60 million during the quarter, compared to analyst estimates of $226.31 million. Deckers Outdoor had a return on equity of 20.26% and a net margin of 6.49%. Deckers Outdoor’s revenue was up 19.5% compared to the same quarter last year. During the same period last year, the business posted ($1.28) earnings per share. equities research analysts predict that Deckers Outdoor Corp will post 6.4 earnings per share for the current year.
In related news, Director Brian Spaly bought 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 31st. The stock was purchased at an average cost of $113.17 per share, for a total transaction of $113,170.00. Following the completion of the acquisition, the director now owns 1,087 shares in the company, valued at approximately $123,015.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Thomas George sold 11,000 shares of Deckers Outdoor stock in a transaction on Wednesday, May 30th. The shares were sold at an average price of $107.83, for a total value of $1,186,130.00. The disclosure for this sale can be found here. Company insiders own 0.40% of the company’s stock.
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. 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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