ZRC Wealth Management LLC Takes Position in Deckers Outdoor Co. (NYSE:DECK)

ZRC Wealth Management LLC acquired a new position in shares of Deckers Outdoor Co. (NYSE:DECK) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 79 shares of the textile maker’s stock, valued at approximately $74,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. First Trust Direct Indexing L.P. boosted its stake in Deckers Outdoor by 7.3% in the 1st quarter. First Trust Direct Indexing L.P. now owns 575 shares of the textile maker’s stock valued at $541,000 after purchasing an additional 39 shares during the period. Norden Group LLC grew its position in shares of Deckers Outdoor by 1,689.0% during the 1st quarter. Norden Group LLC now owns 18,105 shares of the textile maker’s stock worth $17,034,000 after purchasing an additional 17,093 shares in the last quarter. Monument Capital Management raised its position in shares of Deckers Outdoor by 39.7% in the first quarter. Monument Capital Management now owns 3,030 shares of the textile maker’s stock valued at $2,852,000 after buying an additional 861 shares in the last quarter. State of Michigan Retirement System boosted its stake in shares of Deckers Outdoor by 10.4% in the first quarter. State of Michigan Retirement System now owns 8,300 shares of the textile maker’s stock valued at $7,812,000 after buying an additional 784 shares during the period. Finally, New Mexico Educational Retirement Board grew its position in Deckers Outdoor by 7.4% during the first quarter. New Mexico Educational Retirement Board now owns 5,800 shares of the textile maker’s stock worth $5,459,000 after buying an additional 400 shares in the last quarter. 97.79% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on DECK. Telsey Advisory Group boosted their price objective on shares of Deckers Outdoor from $985.00 to $1,100.00 and gave the company an “outperform” rating in a research report on Tuesday, May 28th. BTIG Research increased their target price on Deckers Outdoor from $1,120.00 to $1,200.00 and gave the company a “buy” rating in a research report on Tuesday, June 25th. Robert W. Baird upped their price objective on Deckers Outdoor from $975.00 to $1,050.00 and gave the company an “outperform” rating in a research note on Friday, May 24th. TD Cowen lifted their target price on shares of Deckers Outdoor from $1,005.00 to $1,039.00 and gave the stock a “buy” rating in a research report on Friday, May 24th. Finally, Wedbush boosted their price objective on Deckers Outdoor from $1,000.00 to $1,030.00 and gave the company an “outperform” rating in a research note on Friday, May 24th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Deckers Outdoor presently has a consensus rating of “Moderate Buy” and a consensus target price of $1,023.44.

Insider Activity at Deckers Outdoor

In related news, CEO David Powers sold 10,955 shares of Deckers Outdoor stock in a transaction that occurred on Thursday, June 6th. The shares were sold at an average price of $1,086.50, for a total value of $11,902,607.50. Following the sale, the chief executive officer now owns 76,006 shares of the company’s stock, valued at approximately $82,580,519. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Michael F. Devine III sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $1,077.00, for a total value of $2,154,000.00. Following the completion of the transaction, the director now directly owns 6,204 shares of the company’s stock, valued at approximately $6,681,708. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO David Powers sold 10,955 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $1,086.50, for a total transaction of $11,902,607.50. Following the sale, the chief executive officer now directly owns 76,006 shares in the company, valued at approximately $82,580,519. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,101 shares of company stock worth $28,858,562. 0.70% of the stock is owned by company insiders.

Deckers Outdoor Price Performance

DECK opened at $935.69 on Friday. Deckers Outdoor Co. has a fifty-two week low of $484.02 and a fifty-two week high of $1,106.89. The firm has a market capitalization of $23.80 billion, a P/E ratio of 31.95, a PEG ratio of 3.13 and a beta of 1.06. The company’s 50-day moving average is $958.25 and its 200 day moving average is $866.71.

Deckers Outdoor (NYSE:DECK) last announced its earnings results on Thursday, May 23rd. The textile maker reported $4.95 earnings per share for the quarter, topping analysts’ consensus estimates of $2.82 by $2.13. The firm had revenue of $959.76 million for the quarter, compared to the consensus estimate of $892.00 million. Deckers Outdoor had a return on equity of 38.85% and a net margin of 17.69%. The company’s revenue was up 21.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.46 EPS. On average, equities research analysts expect that Deckers Outdoor Co. will post 30.59 earnings per share for the current year.

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 and apparel for ultra-runners and athletes under the Hoka brand; and sandals, shoes, and boots under the Teva brand name.