Deckers Outdoor Corporation (NYSE:DECK) Shares Bought by Benjamin Edwards Inc.

Key Points

• Benjamin Edwards Inc. increased its holdings in Deckers Outdoor Corporation by 39%, owning a total of 12,192 shares valued at approximately $1.36 million by the end of the recent quarter.
• Deckers Outdoor reported a quarterly revenue of $964.54 million, exceeding expectations and displaying a 16.9% increase compared to the same quarter last year.
• The company's Board of Directors authorized a $2.25 billion stock repurchase program, indicating belief in the stock's undervalue and allowing for the buyback of up to 11.7% of its shares.

Benjamin Edwards Inc. grew its holdings in Deckers Outdoor Corporation (NYSE:DECK - Free Report) by 39.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,192 shares of the textile maker's stock after purchasing an additional 3,421 shares during the period. Benjamin Edwards Inc.'s holdings in Deckers Outdoor were worth $1,363,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Mpwm Advisory Solutions LLC bought a new stake in Deckers Outdoor during the fourth quarter valued at about $26,000. Vega Investment Solutions bought a new stake in Deckers Outdoor during the fourth quarter valued at about $29,000. Fourth Dimension Wealth LLC bought a new stake in Deckers Outdoor during the fourth quarter valued at about $41,000. Itau Unibanco Holding S.A. grew its holdings in Deckers Outdoor by 352.1% during the fourth quarter. Itau Unibanco Holding S.A. now owns 217 shares of the textile maker's stock valued at $44,000 after purchasing an additional 169 shares during the period. Finally, Mountain Hill Investment Partners Corp. bought a new stake in Deckers Outdoor during the first quarter valued at about $34,000. Institutional investors own 97.79% of the company's stock.

Insider Transactions at Deckers Outdoor

In other news, Director Maha Saleh Ibrahim sold 300 shares of the business's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $109.08, for a total transaction of $32,724.00. Following the transaction, the director directly owned 10,681 shares in the company, valued at $1,165,083.48. The trade was a 2.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Angela Ogbechie sold 6,244 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $103.89, for a total value of $648,689.16. Following the transaction, the insider owned 19,980 shares in the company, valued at approximately $2,075,722.20. This represents a 23.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.40% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Raymond James Financial boosted their price target on Deckers Outdoor from $123.00 to $137.00 and gave the company a "strong-buy" rating in a report on Friday, July 25th. Argus assumed coverage on Deckers Outdoor in a report on Friday, June 13th. They set a "hold" rating for the company. Bank of America cut their price target on Deckers Outdoor from $128.00 to $114.00 and set a "neutral" rating for the company in a report on Thursday, July 17th. Barclays boosted their price objective on Deckers Outdoor from $128.00 to $134.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. Finally, KGI Securities upgraded Deckers Outdoor to a "hold" rating in a research report on Monday, May 26th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average target price of $137.50.

Deckers Outdoor Stock Performance

Shares of Deckers Outdoor stock traded down $1.05 on Friday, hitting $102.81. The company's stock had a trading volume of 2,655,669 shares, compared to its average volume of 3,976,303. Deckers Outdoor Corporation has a 1 year low of $93.72 and a 1 year high of $223.98. The firm has a fifty day moving average price of $104.48 and a 200-day moving average price of $118.86. The company has a market capitalization of $15.25 billion, a price-to-earnings ratio of 15.77, a price-to-earnings-growth ratio of 3.94 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 (EPS) 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 company had revenue of $964.54 million for the quarter, compared to analysts' expectations of $901.45 million. During the same period in the previous year, the firm posted $4.52 EPS. Deckers Outdoor's revenue was up 16.9% compared to the same quarter last year. As a group, analysts forecast that Deckers Outdoor Corporation will post 5.89 EPS for the current year.

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

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.