On May 29th, 2023, PNC Financial Services Group Inc. announced that it had reduced its holdings in the textile maker Deckers Outdoor Co. (NYSE:DECK) by 6%. According to their most recent filing with the Securities and Exchange Commission (SEC), PNC Financial Services Group Inc.’s fund owned 3,963 shares of the company’s stock after selling 255 shares during the quarter. The value of these holdings was listed at $1,582,000.
This announcement undoubtedly has investors questioning what other hedge funds are holding DECK and whether or not they too will take action similar to PNC Financial Services Group Inc. To get the latest filings and insider trades for Deckers Outdoor Co., one can visit HoldingsChannel.com. This valuable resource will provide insight into how other investors are dealing with this development.
Deckers Outdoor Co. opened on Monday at $465.18 per share and has a market capitalization of $12.26 billion, making it a significant player in this sector. The firm’s price-to-earnings ratio is currently at 23.98, indicative that Deckers Outdoor Co.’s earnings are capable of supporting a higher valuation that its current price point presents – earning investors generally view favorably.
Moreover, Deckers Outdoor Co.’s price-to-earnings-growth ratio is an encouraging 1.21 and suggests that the company may be undervalued at present – meaning that there could be a great opportunity for interested investors willing to take on some level of risk.
Deckers Outdoor Co.’s beta of 0.92 may also indicate that the stock is less volatile than others within its sector – presenting an attractive factor for any potential investor looking to diversify their portfolio in response to market fluctuations.
Additionally, over the past year, Deckers Outdoor Co.’s stocks have traded within a range from its 52 week low of $238.43 to its 52 week high of $503.48. Currently, it appears the firm has a 50-day moving average of $465.59 and a 200-day moving average of $422.56.
Overall, Deckers Outdoor Co.’s recent dealings will undoubtedly have investors anxious to see how other hedge funds react and what moves they too make in response. While these fluctuations may present short-term adjustments for some investors, savvy individuals looking to capitalize on potentially undervalued stocks in the long run will remain encouraged by companies such as Deckers Outdoor Co. with strong fundamentals and industry leadership positions.
Deckers Outdoor Corp.: A Multifaceted Business Poised for Growth and Institutional Investment
Deckers Outdoor Corp. (NYSE: DECK) is a multifaceted business enterprise dealing with the design, marketing and distribution of accessories, apparel, and footwear for both high-performance activities and everyday casual lifestyle use. The company has been gaining ground in the industry with its notable growth rate and increasing earnings per share(ETF).
Recent 13F filings indicate that different institutional investors such as Fisher Asset Management LLC have bought new positions amounting to approximately $833,000 towards Deckers Outdoor Corp. Other Hedge funds like Nisa Investment Advisors LLC boosted its stakes in the company by 3.2% in shares of Deckers Outdoor during the fourth quarter resulting in a total worth of $4,390,000 after acquiring an additional 337 shares during that quarter. Similarly, Jennison Associates LLC raised its stakes by 69.3% during the same quarter amounting to $1,127,000.
Interim reports as of May 25th this year show that DECK reported an EPS of $3.46 per share for Q1 representing a jump of $0.85 above analysts’ estimates on average at $2.61 per share preceded by revenues of $791.57 million contrary to projected analyst estimates pegged at $723.47 million signifying an upsurge in revenue growth by about 7.5% from the same period last year with net margin slightly going up from14% to 14.28%.
DECK’s segments include HOKA Brand- mainly dealing with athletic footwear; UGG brand-dealing with sales of men’s wear and women’s high fashion footwear; Teva brand which involves sales of sandals; Sanuk Brand – known globally for footwear perfectly aligned with beach culture; Direct-to-Consumer that involves retail stores among others retail sector outlets.
Investment research analysts are keeping an eye on deckers outdoor-co showing optimism regarding future buy ratings with over half of the research analysts narrowing down to the notion that DECK is a ‘buy.’ Bloomberg has indicated DECK’s consensus target price with moderate buy rating hovering at $497.69
In conclusion, there is every indication that Deckers Outdoor Corp. is poised for growth in the coming years. Its remarkable growth rate and increasing earnings per share suggest that it could be a good investment opportunity for both individual and institutional investors alike.