Principal Financial Group Inc. Sells 63,012 Shares of Deckers Outdoor Corporation $DECK

Principal Financial Group Inc. lessened its stake in shares of Deckers Outdoor Corporation (NYSE:DECK) by 14.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 366,920 shares of the textile maker’s stock after selling 63,012 shares during the quarter. Principal Financial Group Inc. owned about 0.25% of Deckers Outdoor worth $37,195,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Trillium Asset Management LLC raised its stake in shares of Deckers Outdoor by 28.1% in the second quarter. Trillium Asset Management LLC now owns 188,486 shares of the textile maker’s stock worth $19,428,000 after purchasing an additional 41,325 shares during the last quarter. OFI Invest Asset Management lifted its stake in Deckers Outdoor by 32.1% during the 2nd quarter. OFI Invest Asset Management now owns 361,543 shares of the textile maker’s stock valued at $37,264,000 after acquiring an additional 87,834 shares in the last quarter. Bank of Montreal Can boosted its holdings in Deckers Outdoor by 37.9% during the 2nd quarter. Bank of Montreal Can now owns 188,873 shares of the textile maker’s stock worth $19,467,000 after acquiring an additional 51,914 shares during the last quarter. KLP Kapitalforvaltning AS boosted its holdings in Deckers Outdoor by 8.4% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 146,500 shares of the textile maker’s stock worth $15,100,000 after acquiring an additional 11,400 shares during the last quarter. Finally, Achmea Investment Management B.V. grew its stake in shares of Deckers Outdoor by 135.3% in the 2nd quarter. Achmea Investment Management B.V. now owns 135,341 shares of the textile maker’s stock worth $13,950,000 after acquiring an additional 77,812 shares in the last quarter. Institutional investors own 97.79% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on DECK shares. Jefferies Financial Group raised their price target on shares of Deckers Outdoor from $102.00 to $105.00 and gave the company a “hold” rating in a research report on Tuesday, January 27th. Sanford C. Bernstein set a $90.00 target price on Deckers Outdoor in a research note on Friday, January 30th. Zacks Research raised Deckers Outdoor from a “hold” rating to a “strong-buy” rating in a report on Monday. Piper Sandler reiterated an “underweight” rating and set a $95.00 price target (up from $85.00) on shares of Deckers Outdoor in a report on Friday, January 30th. Finally, UBS Group reissued a “buy” rating and issued a $161.00 price objective (up previously from $157.00) on shares of Deckers Outdoor in a research report on Friday, January 30th. Three equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating, ten have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $125.20.

Deckers Outdoor Stock Performance

DECK stock opened at $111.02 on Friday. The stock has a fifty day moving average of $102.38 and a 200-day moving average of $101.89. Deckers Outdoor Corporation has a fifty-two week low of $78.91 and a fifty-two week high of $177.64. The company has a market capitalization of $15.76 billion, a price-to-earnings ratio of 15.68, a PEG ratio of 2.56 and a beta of 1.16.

Deckers Outdoor (NYSE:DECK) last issued its earnings results on Thursday, January 29th. The textile maker reported $3.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.77 by $0.56. The firm had revenue of $1.96 billion during the quarter, compared to analyst estimates of $1.87 billion. Deckers Outdoor had a net margin of 19.46% and a return on equity of 41.60%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the business earned $3.00 earnings per share. Equities analysts predict that Deckers Outdoor Corporation will post 5.89 EPS for the current year.

Deckers Outdoor Company Profile

Deckers Outdoor Corporation is a global designer, marketer and distributor of footwear, apparel and accessories. The company’s product portfolio includes well‐known brands such as UGG, HOKA, Teva, Sanuk and Koolaburra by UGG, spanning a range of lifestyle, performance and outdoor categories. Deckers leverages a blend of proprietary manufacturing, strategic brand storytelling and direct‐to‐consumer retail to serve both fashion‐focused and performance‐oriented customers.

Founded in 1973 by Doug Otto and Karl F.