Penobscot Investment Management Company Inc. Sells 18,545 Shares of Deckers Outdoor Corporation $DECK

Penobscot Investment Management Company Inc. trimmed its position in Deckers Outdoor Corporation (NYSE:DECK) by 73.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,580 shares of the textile maker’s stock after selling 18,545 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Deckers Outdoor were worth $514,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. BlackRock Inc. acquired a new stake in shares of Deckers Outdoor during the 2nd quarter worth approximately $1,343,613,000. Bank of New York Mellon Corp acquired a new position in Deckers Outdoor in the second quarter valued at approximately $170,905,000. Caisse de depot et placement du Quebec acquired a new position in Deckers Outdoor in the second quarter valued at approximately $119,656,000. Deutsche Bank AG acquired a new position in Deckers Outdoor in the second quarter valued at approximately $100,620,000. Finally, Man Group plc acquired a new position in Deckers Outdoor in the second quarter valued at approximately $82,448,000. Hedge funds and other institutional investors own 97.79% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on DECK shares. Sanford C. Bernstein decreased their price target on Deckers Outdoor from $105.00 to $100.00 in a research note on Friday, October 23rd. Barclays set a $100.00 price objective on Deckers Outdoor and gave the stock an “overweight” rating in a research report on Friday, October 23rd. Needham & Company LLC decreased their target price on shares of Deckers Outdoor from $125.00 to $96.00 and set a “buy” rating on the stock in a research report on Friday, October 23rd. Piper Sandler lowered shares of Deckers Outdoor from a “neutral” rating to an “underweight” rating and lowered their target price for the stock from $100.00 to $75.00 in a research note on Friday, October 23rd. Finally, Robert W. Baird set a $95.00 price target on shares of Deckers Outdoor in a research report on Friday, October 23rd. Ten investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $105.81.

Deckers Outdoor Stock Up 0.2%

DECK opened at $80.73 on Thursday. Deckers Outdoor Corporation has a 52 week low of $77.20 and a 52 week high of $122.29. The business has a fifty day simple moving average of $82.96 and a 200-day simple moving average of $99.47. The firm has a market cap of $11.00 billion, a P/E ratio of 10.71, a P/E/G ratio of 1.21 and a beta of 1.12.

Deckers Outdoor (NYSE:DECK) last issued its quarterly earnings data on Thursday, October 22nd. The textile maker reported $2.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.79 by $0.52. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.51 billion. Deckers Outdoor had a return on equity of 42.42% and a net margin of 19.18%. The company’s revenue was up 3.4% on a year-over-year basis. During the same period in the previous year, the firm posted $1.82 earnings per share. Sell-side analysts expect that Deckers Outdoor Corporation will post 7.85 earnings per share for the current year.

Deckers Outdoor Profile

Deckers Outdoor Corporation, doing business as Deckers Brands (NYSE: DECK), is a global footwear, apparel and accessories company. Its portfolio includes UGG, known for sheepskin and casual footwear; HOKA, which focuses on performance and running shoes; Teva, which offers outdoor and sport sandals and footwear; and Koolaburra by UGG, a lifestyle footwear brand.

The company sells its products through department and specialty stores, independent retailers, international distributors, company-owned retail stores and e-commerce websites.