Castleark Management LLC Takes $11.52 Million Position in Deckers Outdoor Co. (NYSE:DECK)

Castleark Management LLC bought a new stake in Deckers Outdoor Co. (NYSE:DECK - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 56,710 shares of the textile maker's stock, valued at approximately $11,517,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank purchased a new stake in shares of Deckers Outdoor during the 4th quarter valued at about $392,583,000. JPMorgan Chase & Co. grew its position in Deckers Outdoor by 929.0% in the third quarter. JPMorgan Chase & Co. now owns 1,296,894 shares of the textile maker's stock valued at $206,790,000 after acquiring an additional 1,170,855 shares in the last quarter. Raymond James Financial Inc. acquired a new stake in Deckers Outdoor in the fourth quarter valued at approximately $185,451,000. Jacobs Levy Equity Management Inc. grew its position in Deckers Outdoor by 204.8% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 889,624 shares of the textile maker's stock valued at $180,674,000 after acquiring an additional 597,743 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in Deckers Outdoor by 101.3% in 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 acquiring an additional 505,139 shares in the last quarter. Institutional investors and hedge funds own 97.79% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DECK. KeyCorp restated a "sector weight" rating and set a $150.00 price objective on shares of Deckers Outdoor in a research note on Friday. Robert W. Baird lowered their price objective on shares of Deckers Outdoor from $160.00 to $140.00 and set an "outperform" rating for the company in a research report on Friday. Needham & Company LLC set a $150.00 target price on Deckers Outdoor and gave the company a "buy" rating in a research note on Wednesday. TD Securities upped their target price on Deckers Outdoor from $150.00 to $175.00 and gave the company a "buy" rating in a report on Tuesday. Finally, UBS Group increased their price target on Deckers Outdoor from $158.00 to $169.00 and gave the stock a "buy" rating in a research report on Friday. Twelve equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Deckers Outdoor has a consensus rating of "Moderate Buy" and a consensus target price of $134.68.

Deckers Outdoor Trading Down 20.0%

NYSE:DECK traded down $25.20 during mid-day trading on Friday, reaching $100.89. 19,555,239 shares of the stock were exchanged, compared to its average volume of 2,529,544. The business has a fifty day moving average price of $114.55 and a 200 day moving average price of $158.10. The firm has a market capitalization of $15.31 billion, a PE ratio of 16.36, a PEG ratio of 1.68 and a beta of 1.11. Deckers Outdoor Co. has a 1-year low of $93.72 and a 1-year high of $223.98.

Deckers Outdoor (NYSE:DECK - Get Free Report) last released its earnings results on Thursday, May 22nd. The textile maker reported $1.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.43. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Deckers Outdoor had a return on equity of 41.71% and a net margin of 19.14%. Deckers Outdoor's revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.82 earnings per share. On average, sell-side analysts forecast that Deckers Outdoor Co. will post 5.89 earnings per share for the current year.

Deckers Outdoor announced that its Board of Directors has initiated a share repurchase program on Thursday, May 22nd that authorizes the company to buyback $2.25 billion in outstanding shares. This buyback authorization authorizes the textile maker to repurchase up to 11.7% of its shares through open market purchases. Shares buyback programs are typically a sign that the company's leadership believes its shares are undervalued.

Insider Buying and Selling

In related news, Director David Powers sold 25,000 shares of Deckers Outdoor stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $138.84, for a total transaction of $3,471,000.00. Following the transaction, the director now directly owns 241,777 shares of the company's stock, valued at $33,568,318.68. The trade was a 9.37% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Maha Saleh Ibrahim sold 300 shares of Deckers Outdoor stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $134.48, for a total value of $40,344.00. Following the transaction, the director now directly owns 10,388 shares in the company, valued at approximately $1,396,978.24. The trade was a 2.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.40% of the stock is owned by corporate insiders.

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.