Tobam Cuts Position in Deckers Outdoor Co. (NYSE:DECK)

Tobam reduced its position in shares of Deckers Outdoor Co. (NYSE:DECK - Free Report) by 93.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,169 shares of the textile maker's stock after selling 16,251 shares during the period. Tobam's holdings in Deckers Outdoor were worth $131,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of DECK. Prosperity Wealth Management Inc. increased its stake in Deckers Outdoor by 2.8% during the 4th quarter. Prosperity Wealth Management Inc. now owns 2,777 shares of the textile maker's stock worth $564,000 after buying an additional 75 shares during the period. WD Rutherford LLC raised its stake in shares of Deckers Outdoor by 4.8% in the fourth quarter. WD Rutherford LLC now owns 1,735 shares of the textile maker's stock valued at $352,000 after acquiring an additional 79 shares in the last quarter. HighPoint Advisor Group LLC boosted its holdings in Deckers Outdoor by 5.3% in the fourth quarter. HighPoint Advisor Group LLC now owns 1,623 shares of the textile maker's stock valued at $330,000 after purchasing an additional 81 shares during the period. Gerber Kawasaki Wealth & Investment Management grew its stake in Deckers Outdoor by 4.6% during the 4th quarter. Gerber Kawasaki Wealth & Investment Management now owns 1,902 shares of the textile maker's stock worth $386,000 after purchasing an additional 84 shares in the last quarter. Finally, CIBC Private Wealth Group LLC increased its holdings in Deckers Outdoor by 1.9% during the 4th quarter. CIBC Private Wealth Group LLC now owns 4,896 shares of the textile maker's stock worth $1,016,000 after purchasing an additional 90 shares during the period. 97.79% of the stock is owned by institutional investors and hedge funds.

Deckers Outdoor Price Performance

Shares of DECK stock traded down $6.32 during trading hours on Friday, hitting $101.38. The stock had a trading volume of 3,316,054 shares, compared to its average volume of 2,601,997. The firm has a market capitalization of $15.15 billion, a PE ratio of 16.44, a PEG ratio of 1.68 and a beta of 1.02. The stock's 50 day moving average is $112.42 and its 200 day moving average is $150.57. Deckers Outdoor Co. has a twelve month low of $93.72 and a twelve month high of $223.98.

Deckers Outdoor (NYSE:DECK - Get Free Report) last released its quarterly 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. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Deckers Outdoor had a net margin of 19.14% and a return on equity of 41.71%. Deckers Outdoor's revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.82 EPS. As a group, equities analysts predict that Deckers Outdoor Co. will post 5.89 earnings per share for the current year.

Deckers Outdoor announced that its Board of Directors has authorized a share buyback 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 reacquire up to 11.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling at Deckers Outdoor

In other news, Director Maha Saleh Ibrahim sold 300 shares of Deckers Outdoor stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $109.08, for a total value of $32,724.00. Following the sale, the director now owns 10,681 shares of the company's stock, valued at $1,165,083.48. The trade was a 2.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Angela Ogbechie sold 6,244 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $103.89, for a total transaction of $648,689.16. Following the transaction, the insider now owns 19,980 shares in the company, valued at approximately $2,075,722.20. This trade represents a 23.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.40% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on DECK shares. KeyCorp reissued a "sector weight" rating and set a $150.00 price objective on shares of Deckers Outdoor in a research report on Friday, May 23rd. Piper Sandler lowered their price target on shares of Deckers Outdoor from $210.00 to $100.00 and set a "neutral" rating for the company in a report on Friday, April 11th. TD Securities raised their price objective on shares of Deckers Outdoor from $150.00 to $175.00 and gave the company a "buy" rating in a report on Tuesday, May 20th. Citigroup lowered their target price on shares of Deckers Outdoor from $215.00 to $150.00 and set a "buy" rating for the company in a research note on Monday, April 28th. Finally, Stifel Nicolaus dropped their target price on Deckers Outdoor from $185.00 to $127.00 and set a "hold" rating on the stock in a report on Thursday, April 10th. Fourteen 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 MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $134.68.

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.