Advisor Resource Council Takes $1.25 Million Position in Deckers Outdoor Corporation (NYSE:DECK)

Advisor Resource Council bought a new position in shares of Deckers Outdoor Corporation (NYSE:DECK - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 11,785 shares of the textile maker's stock, valued at approximately $1,252,000.

Several other institutional investors also recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Deckers Outdoor during the 4th quarter worth approximately $392,583,000. Raymond James Financial Inc. purchased a new stake in Deckers Outdoor during the fourth quarter worth $185,451,000. Jacobs Levy Equity Management Inc. boosted its holdings in Deckers Outdoor by 204.8% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 889,624 shares of the textile maker's stock worth $180,674,000 after buying an additional 597,743 shares in the last quarter. Envestnet Asset Management Inc. grew its position in Deckers Outdoor by 101.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 1,003,743 shares of the textile maker's stock valued at $203,850,000 after buying an additional 505,139 shares during the period. Finally, Los Angeles Capital Management LLC increased its holdings in Deckers Outdoor by 507.3% in the fourth quarter. Los Angeles Capital Management LLC now owns 593,020 shares of the textile maker's stock valued at $120,436,000 after buying an additional 495,364 shares in the last quarter. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Cindy L. Davis bought 1,825 shares of the stock in a transaction on Friday, June 6th. The stock was bought at an average price of $109.76 per share, with a total value of $200,312.00. Following the completion of the purchase, the director now directly owns 13,340 shares in the company, valued at $1,464,198.40. This represents a 15.85% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Angela Ogbechie sold 6,244 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $103.89, for a total transaction of $648,689.16. Following the completion of the sale, the insider now directly owns 19,980 shares in the company, valued at $2,075,722.20. This trade represents a 23.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.40% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. KGI Securities raised shares of Deckers Outdoor to a "hold" rating in a research note on Monday, May 26th. Telsey Advisory Group downgraded Deckers Outdoor from an "outperform" rating to a "market perform" rating in a research report on Friday, May 23rd. Piper Sandler cut their price objective on Deckers Outdoor from $210.00 to $100.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Argus started coverage on Deckers Outdoor in a research note on Friday, June 13th. They set a "hold" rating for the company. Finally, Barclays reiterated an "overweight" rating and set a $128.00 target price (down previously from $129.00) on shares of Deckers Outdoor in a research report on Thursday, May 22nd. Fourteen analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Deckers Outdoor currently has an average rating of "Hold" and an average target price of $134.68.

Deckers Outdoor Trading Up 0.8%

DECK stock traded up $0.80 during mid-day trading on Friday, reaching $101.80. The company's stock had a trading volume of 3,528,799 shares, compared to its average volume of 2,607,460. The stock has a market cap of $15.21 billion, a PE ratio of 16.03, a P/E/G ratio of 6.17 and a beta of 1.02. The company's 50 day moving average is $111.58 and its two-hundred day moving average is $146.52. Deckers Outdoor Corporation has a fifty-two week low of $93.72 and a fifty-two week high of $223.98.

Deckers Outdoor (NYSE:DECK - Get Free Report) last issued its earnings results on Thursday, May 22nd. The textile maker reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.43. The company had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.01 billion. Deckers Outdoor had a return on equity of 41.17% and a net margin of 19.49%. The firm's quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.82 EPS. On average, analysts forecast that Deckers Outdoor Corporation will post 5.89 earnings per share for the current fiscal year.

Deckers Outdoor declared that its board has approved a share repurchase program on Thursday, May 22nd that permits the company to buyback $2.25 billion in outstanding shares. This buyback authorization permits the textile maker to purchase up to 11.7% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's leadership believes its shares are undervalued.

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.