Deckers Outdoor Corporation (NYSE:DECK) Shares Acquired by AMF Tjanstepension AB

Key Points

• AMF Tjanstepension AB significantly increased its stake in Deckers Outdoor Corporation by 1,037.7% in Q1, owning 596,735 shares valued at $66.72 million.
• Deckers Outdoor reported Q2 earnings of $0.93 per share, exceeding analysts' expectations, with revenues of $964.54 million, representing a 16.9% increase year-over-year.
• The company has initiated a $2.25 billion share buyback plan, signaling confidence in its stock's value, aiming to repurchase up to 11.7% of its shares.

AMF Tjanstepension AB grew its position in Deckers Outdoor Corporation (NYSE:DECK - Free Report) by 1,037.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 596,735 shares of the textile maker's stock after acquiring an additional 544,283 shares during the period. AMF Tjanstepension AB owned about 0.39% of Deckers Outdoor worth $66,721,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of DECK. Mpwm Advisory Solutions LLC acquired a new stake in shares of Deckers Outdoor in the fourth quarter worth approximately $26,000. Vega Investment Solutions purchased a new position in Deckers Outdoor in the 4th quarter valued at $29,000. Mountain Hill Investment Partners Corp. acquired a new stake in Deckers Outdoor during the 1st quarter worth $34,000. Fourth Dimension Wealth LLC purchased a new stake in shares of Deckers Outdoor during the fourth quarter worth $41,000. Finally, Itau Unibanco Holding S.A. raised its position in shares of Deckers Outdoor by 352.1% in the fourth quarter. Itau Unibanco Holding S.A. now owns 217 shares of the textile maker's stock valued at $44,000 after buying an additional 169 shares during the last quarter. Hedge funds and other institutional investors own 97.79% of the company's stock.

Deckers Outdoor Trading Down 3.7%

DECK stock opened at $101.80 on Friday. The company has a market capitalization of $15.10 billion, a P/E ratio of 15.61, a PEG ratio of 4.03 and a beta of 0.99. The business has a 50 day simple moving average of $104.89 and a 200-day simple moving average of $123.51. Deckers Outdoor Corporation has a twelve month low of $93.72 and a twelve month high of $223.98.

Deckers Outdoor (NYSE:DECK - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The textile maker reported $0.93 earnings per share for the quarter, topping analysts' consensus estimates of $0.68 by $0.25. The firm had revenue of $964.54 million during the quarter, compared to analysts' expectations of $901.45 million. Deckers Outdoor had a net margin of 19.42% and a return on equity of 40.49%. Deckers Outdoor's quarterly revenue was up 16.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.52 EPS. Research analysts predict that Deckers Outdoor Corporation will post 5.89 EPS for the current fiscal year.

Deckers Outdoor declared that its Board of Directors has initiated a share buyback plan on Thursday, May 22nd that authorizes the company to repurchase $2.25 billion in shares. This repurchase authorization authorizes the textile maker to reacquire up to 11.7% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at Deckers Outdoor

In other Deckers Outdoor news, insider Angela Ogbechie sold 6,244 shares of Deckers Outdoor 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 directly owned 19,980 shares in the company, valued at approximately $2,075,722.20. This trade represents a 23.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Cindy L. Davis acquired 1,825 shares of the stock in a transaction that occurred on Friday, June 6th. The stock was purchased at an average price of $109.76 per share, for a total transaction of $200,312.00. Following the completion of the transaction, the director owned 13,340 shares in the company, valued at $1,464,198.40. The trade was a 15.85% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Piper Sandler dropped their price target on Deckers Outdoor from $210.00 to $100.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Argus assumed coverage on Deckers Outdoor in a research note on Friday, June 13th. They issued a "hold" rating for the company. KeyCorp reiterated a "sector weight" rating and set a $150.00 price target on shares of Deckers Outdoor in a report on Friday, May 23rd. TD Securities increased their price target on shares of Deckers Outdoor from $150.00 to $175.00 and gave the company a "buy" rating in a research note on Tuesday, May 20th. Finally, Evercore ISI lifted their price target on shares of Deckers Outdoor from $110.00 to $115.00 and gave the company an "in-line" rating in a research report on Friday, July 25th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Deckers Outdoor has a consensus rating of "Hold" and a consensus price target of $137.50.

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.

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