Capricorn Fund Managers Ltd Buys 37,000 Shares of Deckers Outdoor Corporation (NYSE:DECK)

Key Points

• Capricorn Fund Managers Ltd increased its position in Deckers Outdoor Corporation by 92.5%, making it the fund's 7th largest position with approximately 4.6% of its investment portfolio dedicated to DECK.
• Deckers Outdoor reported earnings of $0.93 EPS, exceeding the consensus estimate of $0.68, with revenue rising 16.9% year-over-year to $964.54 million.
• The company initiated a $2.25 billion share repurchase plan, indicating that its board believes its shares may be undervalued.

Capricorn Fund Managers Ltd raised its position in Deckers Outdoor Corporation (NYSE:DECK - Free Report) by 92.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 77,000 shares of the textile maker's stock after purchasing an additional 37,000 shares during the quarter. Deckers Outdoor comprises 4.6% of Capricorn Fund Managers Ltd's investment portfolio, making the stock its 7th biggest position. Capricorn Fund Managers Ltd owned 0.05% of Deckers Outdoor worth $8,609,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in DECK. Mpwm Advisory Solutions LLC acquired a new position in shares of Deckers Outdoor in the 4th quarter worth approximately $26,000. Headlands Technologies LLC purchased a new stake in Deckers Outdoor in the fourth quarter valued at approximately $29,000. Vega Investment Solutions acquired a new position in Deckers Outdoor during the fourth quarter worth $29,000. Mountain Hill Investment Partners Corp. acquired a new position in Deckers Outdoor during the first quarter worth $34,000. Finally, Fourth Dimension Wealth LLC purchased a new position in shares of Deckers Outdoor during the fourth quarter worth $41,000. Hedge funds and other institutional investors own 97.79% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on DECK shares. TD Securities boosted their price objective on Deckers Outdoor from $150.00 to $175.00 and gave the company a "buy" rating in a report on Tuesday, May 20th. Piper Sandler reduced their price target on shares of Deckers Outdoor from $210.00 to $100.00 and set a "neutral" rating on the stock in a research report on Friday, April 11th. Citigroup lowered their price objective 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. Raymond James Financial lifted their price objective on shares of Deckers Outdoor from $123.00 to $137.00 and gave the company a "strong-buy" rating in a report on Friday, July 25th. Finally, Cowen reiterated a "buy" rating on shares of Deckers Outdoor in a report on Tuesday, May 20th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $137.50.

Deckers Outdoor Stock Down 1.5%

Deckers Outdoor stock traded down $1.66 during mid-day trading on Wednesday, hitting $110.45. The company had a trading volume of 2,828,138 shares, compared to its average volume of 4,423,100. The stock has a market cap of $16.41 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 7.11 and a beta of 0.99. Deckers Outdoor Corporation has a 1 year low of $93.72 and a 1 year high of $223.98. The business has a fifty day moving average of $105.57 and a 200 day moving average of $127.87.

Deckers Outdoor (NYSE:DECK - Get Free Report) last posted its earnings results on Thursday, July 24th. The textile maker reported $0.93 EPS for the quarter, beating analysts' consensus estimates of $0.68 by $0.25. Deckers Outdoor had a net margin of 19.42% and a return on equity of 40.49%. The firm had revenue of $964.54 million for the quarter, compared to the consensus estimate of $901.45 million. During the same period last year, the firm posted $4.52 EPS. The company's revenue was up 16.9% on a year-over-year basis. Equities analysts anticipate that Deckers Outdoor Corporation will post 5.89 earnings per share for the current year.

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

Insiders Place Their Bets

In other news, Director Maha Saleh Ibrahim sold 300 shares of the business's 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 directly owned 10,681 shares of the company's stock, valued at approximately $1,165,083.48. The trade was a 2.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Angela Ogbechie sold 6,244 shares of the firm'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 $2,075,722.20. This represents a 23.81% decrease in their position. The disclosure for this sale can be found here. Corporate 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.