Virtus Wealth Solutions LLC Takes Position in Deckers Outdoor Co. (NYSE:DECK)

Virtus Wealth Solutions LLC purchased a new stake in shares of Deckers Outdoor Co. (NYSE:DECK) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 28,202 shares of the textile maker’s stock, valued at approximately $5,728,000. Deckers Outdoor makes up approximately 1.3% of Virtus Wealth Solutions LLC’s holdings, making the stock its 17th biggest holding.

Several other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of Deckers Outdoor by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 17,639,783 shares of the textile maker’s stock valued at $3,582,464,000 after buying an additional 229,807 shares during the period. Geode Capital Management LLC raised its holdings in shares of Deckers Outdoor by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 4,104,954 shares of the textile maker’s stock worth $831,723,000 after acquiring an additional 45,035 shares in the last quarter. Norges Bank acquired a new stake in Deckers Outdoor during the fourth quarter valued at $392,583,000. American Century Companies Inc. grew its stake in Deckers Outdoor by 6.4% in the fourth quarter. American Century Companies Inc. now owns 1,306,132 shares of the textile maker’s stock valued at $265,262,000 after purchasing an additional 78,623 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in Deckers Outdoor by 929.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,296,894 shares of the textile maker’s stock worth $206,790,000 after purchasing an additional 1,170,855 shares during the last quarter. 97.79% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Deckers Outdoor

In other news, Director David Powers sold 25,000 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $138.84, for a total value of $3,471,000.00. Following the sale, the director now owns 241,777 shares of the company’s stock, valued at approximately $33,568,318.68. This represents a 9.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Maha Saleh Ibrahim sold 300 shares of Deckers Outdoor stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $134.48, for a total transaction of $40,344.00. Following the transaction, the director now directly owns 10,388 shares of the company’s stock, valued at $1,396,978.24. This represents a 2.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Citigroup raised Deckers Outdoor from a “neutral” rating to a “buy” rating and set a $215.00 price target for the company in a research note on Friday, February 7th. Guggenheim restated a “neutral” rating on shares of Deckers Outdoor in a research note on Friday, January 31st. UBS Group raised their price target on shares of Deckers Outdoor from $267.00 to $284.00 and gave the company a “buy” rating in a report on Friday, January 31st. Jefferies Financial Group upped their price objective on shares of Deckers Outdoor from $180.00 to $200.00 and gave the stock a “hold” rating in a report on Tuesday, January 28th. Finally, Stifel Nicolaus cut their target price on Deckers Outdoor from $185.00 to $127.00 and set a “hold” rating on the stock in a report on Thursday. Nine analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Deckers Outdoor presently has a consensus rating of “Moderate Buy” and a consensus target price of $187.89.

Deckers Outdoor Price Performance

NYSE DECK opened at $108.94 on Friday. The company’s fifty day moving average is $130.39 and its two-hundred day moving average is $167.45. The firm has a market capitalization of $16.53 billion, a price-to-earnings ratio of 17.66, a P/E/G ratio of 1.68 and a beta of 1.07. Deckers Outdoor Co. has a 52-week low of $93.72 and a 52-week high of $223.98.

Deckers Outdoor (NYSE:DECK) last posted its quarterly earnings results on Thursday, February 6th. The textile maker reported $3.00 EPS for the quarter, beating the consensus estimate of $2.44 by $0.56. Deckers Outdoor had a return on equity of 41.71% and a net margin of 19.14%. As a group, sell-side analysts expect that Deckers Outdoor Co. will post 5.89 earnings per share for the current fiscal year.

Deckers Outdoor Profile

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