Miracle Mile Advisors LLC Takes Position in Deckers Outdoor Co. (NYSE:DECK)

Miracle Mile Advisors LLC acquired a new stake in shares of Deckers Outdoor Co. (NYSE:DECK) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 5,252 shares of the textile maker’s stock, valued at approximately $1,067,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Sunbelt Securities Inc. increased its position in shares of Deckers Outdoor by 7.5% during the second quarter. Sunbelt Securities Inc. now owns 273 shares of the textile maker’s stock valued at $264,000 after purchasing an additional 19 shares during the period. Meiji Yasuda Asset Management Co Ltd. grew its position in Deckers Outdoor by 5.2% in the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 406 shares of the textile maker’s stock valued at $393,000 after acquiring an additional 20 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in Deckers Outdoor by 2.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 918 shares of the textile maker’s stock valued at $889,000 after acquiring an additional 23 shares during the period. Evergreen Capital Management LLC grew its position in Deckers Outdoor by 5.7% in the second quarter. Evergreen Capital Management LLC now owns 497 shares of the textile maker’s stock valued at $481,000 after acquiring an additional 27 shares during the period. Finally, Mercer Global Advisors Inc. ADV grew its position in Deckers Outdoor by 2.1% in the second quarter. Mercer Global Advisors Inc. ADV now owns 1,663 shares of the textile maker’s stock valued at $1,609,000 after acquiring an additional 34 shares during the period. 97.79% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Deckers Outdoor

In other Deckers Outdoor news, CFO Steven J. Fasching sold 8,802 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $175.00, for a total value of $1,540,350.00. Following the completion of the sale, the chief financial officer now directly owns 153,036 shares in the company, valued at $26,781,300. This represents a 5.44 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Caroti Stefano sold 14,274 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $208.34, for a total value of $2,973,845.16. Following the completion of the sale, the chief executive officer now owns 259,266 shares of the company’s stock, valued at $54,015,478.44. This trade represents a 5.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 75,036 shares of company stock valued at $13,715,482. 0.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

DECK has been the topic of a number of analyst reports. KeyCorp upped their price target on Deckers Outdoor from $190.00 to $213.00 and gave the company an “overweight” rating in a research report on Friday, December 6th. TD Cowen upped their price target on Deckers Outdoor from $178.00 to $185.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Truist Financial boosted their price objective on Deckers Outdoor from $205.00 to $230.00 and gave the stock a “buy” rating in a research note on Tuesday, December 3rd. Needham & Company LLC boosted their price objective on Deckers Outdoor from $226.00 to $246.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Finally, Wells Fargo & Company boosted their price objective on Deckers Outdoor from $170.00 to $215.00 and gave the stock an “equal weight” rating in a research note on Friday, January 10th. Nine investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $164.76.

Deckers Outdoor Trading Up 0.7 %

NYSE:DECK opened at $206.09 on Wednesday. Deckers Outdoor Co. has a 1-year low of $117.02 and a 1-year high of $214.70. The business’s 50-day moving average price is $197.00 and its two-hundred day moving average price is $120.69. The firm has a market capitalization of $31.31 billion, a price-to-earnings ratio of 36.24, a PEG ratio of 2.90 and a beta of 1.08.

Deckers Outdoor (NYSE:DECK) last released its earnings results on Thursday, October 24th. The textile maker reported $1.59 earnings per share for the quarter, beating the consensus estimate of $1.24 by $0.35. Deckers Outdoor had a return on equity of 41.48% and a net margin of 18.95%. The firm had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the firm posted $1.14 earnings per share. The company’s quarterly revenue was up 20.1% on a year-over-year basis. Sell-side analysts predict that Deckers Outdoor Co. will post 5.49 earnings per share for the current 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.