37,863 Shares in Deckers Outdoor Corporation (NYSE:DECK) Bought by Scotia Capital Inc.

Key Points

• Scotia Capital Inc. acquired a new stake in Deckers Outdoor Corporation, buying 37,863 shares valued at approximately $4,233,000 during the first quarter.
• Deckers reported earnings per share (EPS) of $0.93, exceeding estimates, and increased quarterly revenue by 16.9% year-over-year.
• Institutional investors and hedge funds hold 97.79% of Deckers' stock, illustrating strong institutional interest in the company.

Scotia Capital Inc. bought a new stake in Deckers Outdoor Corporation (NYSE:DECK - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 37,863 shares of the textile maker's stock, valued at approximately $4,233,000.

Several other institutional investors have also recently bought and sold shares of DECK. Mpwm Advisory Solutions LLC bought a new stake in shares of Deckers Outdoor during the 4th quarter valued at approximately $26,000. Headlands Technologies LLC acquired a new stake in Deckers Outdoor in the fourth quarter valued at approximately $29,000. Vega Investment Solutions bought a new stake in shares of Deckers Outdoor during the fourth quarter worth $29,000. Mountain Hill Investment Partners Corp. acquired a new position in shares of Deckers Outdoor during the first quarter worth $34,000. Finally, Fourth Dimension Wealth LLC bought a new position in shares of Deckers Outdoor in the 4th quarter valued at $41,000. Institutional investors and hedge funds own 97.79% of the company's stock.

Insider Transactions at Deckers Outdoor

In related news, Director Maha Saleh Ibrahim sold 300 shares of the business's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $109.08, for a total value of $32,724.00. Following the completion of the sale, the director directly owned 10,681 shares of the company's stock, valued at $1,165,083.48. The trade was a 2.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Cindy L. Davis purchased 1,825 shares of the business's stock in a transaction on Friday, June 6th. The stock was purchased at an average price of $109.76 per share, for a total transaction of $200,312.00. Following the acquisition, the director owned 13,340 shares of the company's stock, valued at approximately $1,464,198.40. This represents a 15.85% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.40% of the company's stock.

Analyst Ratings Changes

DECK has been the topic of a number of research reports. Bank of America reduced their price objective on Deckers Outdoor from $128.00 to $114.00 and set a "neutral" rating on the stock in a research report on Thursday, July 17th. Stifel Nicolaus lowered their price objective on Deckers Outdoor from $185.00 to $127.00 and set a "hold" rating for the company in a research note on Thursday, April 10th. KeyCorp reiterated a "sector weight" rating and issued a $150.00 price objective on shares of Deckers Outdoor in a report on Friday, May 23rd. Evercore ISI boosted their target price on shares of Deckers Outdoor from $110.00 to $115.00 and gave the stock an "in-line" rating in a report on Friday, July 25th. Finally, Piper Sandler dropped their price target on shares of Deckers Outdoor from $210.00 to $100.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $137.50.

Deckers Outdoor Stock Performance

Shares of DECK opened at $105.21 on Tuesday. The firm has a market cap of $15.61 billion, a PE ratio of 16.14, a price-to-earnings-growth ratio of 3.94 and a beta of 0.99. Deckers Outdoor Corporation has a 52-week low of $93.72 and a 52-week high of $223.98. The business's 50 day moving average price is $105.03 and its two-hundred day moving average price is $124.51.

Deckers Outdoor (NYSE:DECK - Get Free Report) last released its earnings results on Thursday, July 24th. The textile maker reported $0.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.68 by $0.25. The company had revenue of $964.54 million for the quarter, compared to the consensus estimate of $901.45 million. Deckers Outdoor had a net margin of 19.42% and a return on equity of 40.49%. Deckers Outdoor's quarterly revenue was up 16.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.52 EPS. Research analysts predict that Deckers Outdoor Corporation will post 5.89 EPS for the current fiscal year.

Deckers Outdoor declared that its board has authorized a stock buyback program on Thursday, May 22nd that allows the company to buyback $2.25 billion in outstanding shares. This buyback authorization allows the textile maker to reacquire up to 11.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's management believes its stock is undervalued.

Deckers Outdoor Company 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.

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