Congress Asset Management Co. substantially decreased its investment in Deckers Outdoor Corporation during the third quarter. The firm sold 97.2% of its stake, as revealed in its latest 13F filing.
CAM divested 695,183 shares. The firm now holds 20,045 shares, valued at approximately $2.03 million.
This divestment occurred despite Deckers reporting third-quarter earnings that surpassed analyst expectations. Deckers also provided guidance for fiscal year 2026.
The move follows recent position adjustments by several other large institutional investors. The current consensus analyst rating for Deckers stock remains a "Hold."