Banque Cantonale Vaudoise Takes $2.81 Million Position in Deckers Outdoor Corporation (NYSE:DECK)

Key Points

• Banque Cantonale Vaudoise has acquired 25,120 shares of Deckers Outdoor Corporation, valued at approximately $2.8 million, as part of their new investment strategy in Q1.
• Deckers Outdoor recently reported better-than-expected earnings, with an EPS of $0.93, surpassing estimates by $0.25, and a revenue increase of 16.9% year-over-year.
• Analysts have raised price targets for Deckers Outdoor, with new targets ranging from $100 to $150, indicating a generally positive outlook despite a mix of ratings.

Banque Cantonale Vaudoise acquired a new stake in Deckers Outdoor Corporation (NYSE:DECK - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 25,120 shares of the textile maker's stock, valued at approximately $2,809,000.

Several other large investors have also bought and sold shares of the business. GSA Capital Partners LLP lifted its stake in shares of Deckers Outdoor by 278.0% in the first quarter. GSA Capital Partners LLP now owns 9,016 shares of the textile maker's stock worth $1,008,000 after acquiring an additional 6,631 shares during the period. Federated Hermes Inc. lifted its stake in shares of Deckers Outdoor by 1,998.7% in the first quarter. Federated Hermes Inc. now owns 1,163,977 shares of the textile maker's stock worth $130,144,000 after acquiring an additional 1,108,516 shares during the period. Meeder Asset Management Inc. lifted its stake in shares of Deckers Outdoor by 1,628.7% in the first quarter. Meeder Asset Management Inc. now owns 1,746 shares of the textile maker's stock worth $195,000 after acquiring an additional 1,645 shares during the period. Meeder Advisory Services Inc. lifted its stake in shares of Deckers Outdoor by 33.1% in the first quarter. Meeder Advisory Services Inc. now owns 1,916 shares of the textile maker's stock worth $214,000 after acquiring an additional 476 shares during the period. Finally, Mackenzie Financial Corp lifted its stake in shares of Deckers Outdoor by 6.8% in the first quarter. Mackenzie Financial Corp now owns 17,157 shares of the textile maker's stock worth $1,918,000 after acquiring an additional 1,088 shares during the period. 97.79% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

DECK has been the subject of a number of research analyst reports. Wells Fargo & Company lifted their target price on Deckers Outdoor from $90.00 to $100.00 and gave the stock an "equal weight" rating in a report on Friday, July 25th. The Goldman Sachs Group lowered their target price on Deckers Outdoor from $90.00 to $87.00 and set a "sell" rating for the company in a report on Tuesday, July 22nd. KeyCorp reiterated a "sector weight" rating and issued a $150.00 target price on shares of Deckers Outdoor in a report on Friday, May 23rd. Raymond James Financial lifted their target price on Deckers Outdoor from $123.00 to $137.00 and gave the stock a "strong-buy" rating in a report on Friday, July 25th. Finally, Evercore ISI lifted their target price on Deckers Outdoor from $110.00 to $115.00 and gave the stock an "in-line" rating in a report on Friday, July 25th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $137.50.

Deckers Outdoor Stock Down 4.1%

DECK stock traded down $4.58 during midday trading on Thursday, hitting $106.02. The company's stock had a trading volume of 3,704,926 shares, compared to its average volume of 4,332,234. The stock's 50-day moving average price is $105.31 and its 200 day moving average price is $127.75. Deckers Outdoor Corporation has a 1 year low of $93.72 and a 1 year high of $223.98. The stock has a market cap of $15.75 billion, a price-to-earnings ratio of 16.26, a PEG ratio of 7.01 and a beta of 0.99.

Deckers Outdoor (NYSE:DECK - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The textile maker reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.25. Deckers Outdoor had a return on equity of 40.49% and a net margin of 19.42%. The business had revenue of $964.54 million for the quarter, compared to analysts' expectations of $901.45 million. During the same quarter in the previous year, the firm earned $4.52 earnings per share. The business's revenue was up 16.9% on a year-over-year basis. As a group, equities analysts forecast that Deckers Outdoor Corporation will post 5.89 earnings per share for the current fiscal year.

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

Insider Activity

In related news, Director Cindy L. Davis acquired 1,825 shares of the company's stock in a transaction that occurred on Friday, June 6th. The shares were acquired at an average price of $109.76 per share, with a total value 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 trade represents a 15.85% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Angela Ogbechie sold 6,244 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $103.89, for a total value of $648,689.16. Following the sale, the insider directly owned 19,980 shares in the company, valued at $2,075,722.20. This trade represents a 23.81% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.40% of the company's stock.

About Deckers Outdoor

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.