Cavalier Investments LLC Buys 49,525 Shares of Deckers Outdoor Corporation (NYSE:DECK)

Cavalier Investments LLC lifted its stake in Deckers Outdoor Corporation (NYSE:DECK - Free Report) by 2,637.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 51,403 shares of the textile maker's stock after acquiring an additional 49,525 shares during the period. Deckers Outdoor accounts for about 2.0% of Cavalier Investments LLC's investment portfolio, making the stock its 16th largest position. Cavalier Investments LLC's holdings in Deckers Outdoor were worth $5,747,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Revolve Wealth Partners LLC acquired a new stake in shares of Deckers Outdoor in the fourth quarter valued at about $247,000. Private Advisor Group LLC boosted its stake in Deckers Outdoor by 9.4% during the 4th quarter. Private Advisor Group LLC now owns 6,043 shares of the textile maker's stock valued at $1,227,000 after purchasing an additional 518 shares during the period. Sigma Planning Corp bought a new position in Deckers Outdoor in the 4th quarter worth approximately $294,000. Advisor OS LLC bought a new stake in shares of Deckers Outdoor in the fourth quarter valued at approximately $407,000. Finally, NewEdge Wealth LLC increased its position in Deckers Outdoor by 3.6% during the fourth quarter. NewEdge Wealth LLC now owns 190,140 shares of the textile maker's stock worth $38,616,000 after acquiring an additional 6,558 shares during the period. 97.79% of the stock is currently owned by institutional investors and hedge funds.

Deckers Outdoor Price Performance

Shares of NYSE:DECK opened at $101.94 on Friday. The stock has a market cap of $15.23 billion, a price-to-earnings ratio of 16.07, a P/E/G ratio of 6.14 and a beta of 1.02. The company has a 50 day moving average of $111.29 and a 200-day moving average of $144.54. Deckers Outdoor Corporation has a one year low of $93.72 and a one year 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 EPS for the quarter, beating the consensus estimate of $0.57 by $0.43. Deckers Outdoor had a net margin of 19.49% and a return on equity of 41.17%. The company had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter in the previous year, the company posted $0.82 EPS. The business's revenue for the quarter was up 6.5% compared to the same quarter last year. Equities research analysts anticipate that Deckers Outdoor Corporation will post 5.89 earnings per share for the current year.

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

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on DECK shares. Wells Fargo & Company cut their price objective on shares of Deckers Outdoor from $120.00 to $100.00 and set an "equal weight" rating for the company in a research report on Friday, May 23rd. TD Securities raised their price objective on Deckers Outdoor from $150.00 to $175.00 and gave the stock a "buy" rating in a research report on Tuesday, May 20th. KeyCorp restated a "sector weight" rating and set a $150.00 price objective on shares of Deckers Outdoor in a research report on Friday, May 23rd. Argus initiated coverage on Deckers Outdoor in a research report on Friday, June 13th. They issued a "hold" rating for the company. Finally, Barclays reissued an "overweight" rating and issued a $128.00 price target (down previously from $129.00) on shares of Deckers Outdoor in a report on Thursday, May 22nd. Fourteen equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $140.31.

Insiders Place Their Bets

In related news, insider Angela Ogbechie sold 6,244 shares of the firm's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $103.89, for a total transaction of $648,689.16. Following the sale, the insider now owns 19,980 shares of the company's stock, valued at approximately $2,075,722.20. This trade represents a 23.81% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Maha Saleh Ibrahim sold 300 shares of the 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 now owns 10,681 shares of the company's stock, valued at $1,165,083.48. This trade represents a 2.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.40% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.