Deckers Outdoor Corporation (NYSE:DECK) Shares Acquired by Banque Pictet & Cie SA

Banque Pictet & Cie SA lifted its stake in shares of Deckers Outdoor Corporation (NYSE:DECK - Free Report) by 25.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 27,452 shares of the textile maker's stock after buying an additional 5,555 shares during the quarter. Banque Pictet & Cie SA's holdings in Deckers Outdoor were worth $3,069,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Mpwm Advisory Solutions LLC acquired a new position in Deckers Outdoor in the fourth quarter valued at approximately $26,000. Headlands Technologies LLC acquired a new stake in shares of Deckers Outdoor in the fourth quarter valued at approximately $29,000. Vega Investment Solutions acquired a new stake in shares of Deckers Outdoor in the fourth quarter valued at approximately $29,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Deckers Outdoor by 250.0% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 168 shares of the textile maker's stock valued at $34,000 after acquiring an additional 120 shares during the period. Finally, Fourth Dimension Wealth LLC acquired a new stake in shares of Deckers Outdoor in the fourth quarter valued at approximately $41,000. 97.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on DECK shares. Barclays reissued an "overweight" rating and issued a $128.00 price objective (down from $129.00) on shares of Deckers Outdoor in a report on Thursday, May 22nd. Evercore ISI reaffirmed an "in-line" rating and set a $110.00 price target (down from $235.00) on shares of Deckers Outdoor in a report on Friday, May 23rd. Robert W. Baird decreased their price target on Deckers Outdoor from $160.00 to $140.00 and set an "outperform" rating for the company in a report on Friday, May 23rd. TD Securities increased their price target on Deckers Outdoor from $150.00 to $175.00 and gave the stock a "buy" rating in a report on Tuesday, May 20th. Finally, Bank of America decreased their price target on Deckers Outdoor from $154.00 to $128.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $137.66.

Insider Activity

In related news, Director Maha Saleh Ibrahim sold 300 shares of Deckers Outdoor stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $109.08, for a total transaction of $32,724.00. Following the completion of the sale, the director owned 10,681 shares in the company, valued at approximately $1,165,083.48. This trade represents a 2.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Angela Ogbechie sold 6,244 shares of Deckers Outdoor stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $103.89, for a total value of $648,689.16. Following the sale, the insider owned 19,980 shares of the company's stock, valued at approximately $2,075,722.20. This represents a 23.81% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.40% of the company's stock.

Deckers Outdoor Stock Down 0.4%

Shares of DECK stock opened at $104.84 on Thursday. Deckers Outdoor Corporation has a fifty-two week low of $93.72 and a fifty-two week high of $223.98. The stock has a market cap of $15.67 billion, a P/E ratio of 16.53, a P/E/G ratio of 6.40 and a beta of 0.99. The business has a fifty day simple moving average of $110.74 and a 200-day simple moving average of $138.26.

Deckers Outdoor (NYSE:DECK - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The textile maker reported $1.00 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.43. Deckers Outdoor had a return on equity of 41.17% and a net margin of 19.49%. The business had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter last year, the business posted $0.82 earnings per share. The business's revenue for the quarter was up 6.5% on a year-over-year basis. On average, sell-side 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 share repurchase program on Thursday, May 22nd that authorizes the company to buyback $2.25 billion in shares. This buyback authorization authorizes the textile maker to buy up to 11.7% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's management believes its stock is undervalued.

Deckers Outdoor 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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