Penobscot Investment Management Company Inc. Sells 19,598 Shares of Deckers Outdoor Corporation $DECK

Penobscot Investment Management Company Inc. trimmed its stake in Deckers Outdoor Corporation (NYSE:DECK) by 42.0% during the fourth quarter, Holdings Channel reports. The fund owned 27,090 shares of the textile maker’s stock after selling 19,598 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Deckers Outdoor were worth $2,808,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the stock. Viking Global Investors LP bought a new position in shares of Deckers Outdoor in the 3rd quarter valued at approximately $175,058,000. Northern Trust Corp raised its stake in shares of Deckers Outdoor by 3.6% in the 3rd quarter. Northern Trust Corp now owns 1,721,542 shares of the textile maker’s stock valued at $174,513,000 after acquiring an additional 60,029 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Deckers Outdoor by 12.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,445,580 shares of the textile maker’s stock valued at $146,538,000 after acquiring an additional 165,384 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its stake in shares of Deckers Outdoor by 29.9% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,442,771 shares of the textile maker’s stock valued at $146,254,000 after acquiring an additional 331,794 shares in the last quarter. Finally, TD Asset Management Inc raised its stake in shares of Deckers Outdoor by 9.2% in the 3rd quarter. TD Asset Management Inc now owns 1,378,343 shares of the textile maker’s stock valued at $139,723,000 after acquiring an additional 116,310 shares in the last quarter. 97.79% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Robin Spring-Green sold 347 shares of Deckers Outdoor stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $113.78, for a total transaction of $39,481.66. Following the sale, the insider owned 42,461 shares of the company’s stock, valued at approximately $4,831,212.58. This trade represents a 0.81% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Anne Spangenberg sold 4,063 shares of Deckers Outdoor stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $116.02, for a total value of $471,389.26. Following the sale, the insider directly owned 80,449 shares in the company, valued at $9,333,692.98. The trade was a 4.81% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 9,092 shares of company stock valued at $1,048,552 in the last three months. Company insiders own 0.40% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on DECK shares. Evercore set a $108.00 price objective on Deckers Outdoor in a research note on Friday, January 30th. Wells Fargo & Company set a $115.00 price target on Deckers Outdoor and gave the stock an “equal weight” rating in a research report on Wednesday, April 15th. KGI Securities raised Deckers Outdoor from a “hold” rating to an “outperform” rating and set a $129.00 price target on the stock in a research report on Friday, January 30th. Argus raised Deckers Outdoor from a “hold” rating to a “buy” rating in a research report on Friday, February 20th. Finally, Robert W. Baird downgraded Deckers Outdoor from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 7th. Three investment analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Deckers Outdoor presently has an average rating of “Moderate Buy” and an average price target of $125.45.

Deckers Outdoor Stock Down 0.8%

Shares of NYSE DECK opened at $110.18 on Wednesday. The business’s 50 day moving average is $107.63 and its two-hundred day moving average is $100.89. The company has a market cap of $15.64 billion, a P/E ratio of 15.56, a P/E/G ratio of 2.38 and a beta of 1.21. Deckers Outdoor Corporation has a 12 month low of $78.91 and a 12 month high of $133.43.

Deckers Outdoor (NYSE:DECK) last issued its quarterly earnings results on Thursday, January 29th. The textile maker reported $3.33 EPS for the quarter, topping the consensus estimate of $2.77 by $0.56. The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.87 billion. Deckers Outdoor had a return on equity of 41.60% and a net margin of 19.46%.The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the business posted $3.00 EPS. Sell-side analysts expect that Deckers Outdoor Corporation will post 6.87 earnings per share for the current fiscal year.

Deckers Outdoor 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.