Deckers Outdoor Corporation (NYSE:DECK) Shares Bought by Deutsche Bank AG

Key Points

• Deutsche Bank AG increased its stake in Deckers Outdoor Corporation by 11.0%, owning approximately 0.82% of the company, valued at $138.4 million.
• Deckers Outdoor reported earnings of $0.93 EPS for the quarter, surpassing the estimated $0.68 EPS, and achieved 16.9% revenue growth year-over-year.
• The company's Board of Directors initiated a $2.25 billion share buyback program, signaling confidence that the stock is currently undervalued.

Deutsche Bank AG lifted its holdings in Deckers Outdoor Corporation (NYSE:DECK - Free Report) by 11.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,237,748 shares of the textile maker's stock after buying an additional 123,009 shares during the quarter. Deutsche Bank AG owned approximately 0.82% of Deckers Outdoor worth $138,393,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Mpwm Advisory Solutions LLC bought a new position in shares of Deckers Outdoor in the 4th quarter worth approximately $26,000. Vega Investment Solutions bought a new position in shares of Deckers Outdoor in the 4th quarter worth approximately $29,000. Fourth Dimension Wealth LLC bought a new position in shares of Deckers Outdoor in the 4th quarter worth approximately $41,000. Itau Unibanco Holding S.A. lifted its stake in shares of Deckers Outdoor by 352.1% in the 4th quarter. Itau Unibanco Holding S.A. now owns 217 shares of the textile maker's stock worth $44,000 after purchasing an additional 169 shares during the period. Finally, Mountain Hill Investment Partners Corp. bought a new position in shares of Deckers Outdoor in the 1st quarter worth approximately $34,000. 97.79% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Deckers Outdoor

In other Deckers Outdoor news, insider Angela Ogbechie sold 6,244 shares of the business's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $103.89, for a total value of $648,689.16. Following the completion of the transaction, the insider directly owned 19,980 shares in the company, valued at approximately $2,075,722.20. The trade was a 23.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Cindy L. Davis purchased 1,825 shares of the business's stock in a transaction on Friday, June 6th. The shares were bought at an average price of $109.76 per share, for a total transaction of $200,312.00. Following the purchase, the director directly owned 13,340 shares in the company, valued at $1,464,198.40. This represents a 15.85% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.40% of the company's stock.

Deckers Outdoor Stock Down 2.5%

DECK traded down $2.68 during trading on Thursday, reaching $103.81. The company had a trading volume of 2,470,871 shares, compared to its average volume of 3,422,898. The stock has a market cap of $15.40 billion, a P/E ratio of 15.92, a PEG ratio of 3.94 and a beta of 0.99. The business has a 50 day simple moving average of $104.70 and a 200-day simple moving average of $120.39. Deckers Outdoor Corporation has a 52 week low of $93.72 and a 52 week 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 (EPS) for the quarter, topping analysts' consensus estimates of $0.68 by $0.25. The company had revenue of $964.54 million during the quarter, compared to the consensus estimate of $901.45 million. Deckers Outdoor had a return on equity of 40.49% and a net margin of 19.42%. Deckers Outdoor's revenue was up 16.9% on a year-over-year basis. During the same period last year, the company earned $4.52 earnings per share. As a group, equities research analysts expect that Deckers Outdoor Corporation will post 5.89 EPS for the current fiscal year.

Deckers Outdoor declared that its Board of Directors has authorized a stock buyback program on Thursday, May 22nd that allows the company to repurchase $2.25 billion in outstanding shares. This repurchase authorization allows the textile maker to buy up to 11.7% of its stock through open market purchases. Stock repurchase programs are generally an indication that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

DECK has been the topic of a number of recent analyst reports. Barclays raised their target price on shares of Deckers Outdoor from $128.00 to $134.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. Bank of America decreased their target price on shares of Deckers Outdoor from $128.00 to $114.00 and set a "neutral" rating on the stock in a research note on Thursday, July 17th. Raymond James Financial raised their target price on shares of Deckers Outdoor from $123.00 to $137.00 and gave the stock a "strong-buy" rating in a research note on Friday, July 25th. Needham & Company LLC restated a "buy" rating and set a $128.00 target price (up previously from $120.00) on shares of Deckers Outdoor in a research note on Wednesday, July 23rd. Finally, KGI Securities upgraded shares of Deckers Outdoor to a "hold" rating in a research note on Monday, May 26th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $137.50.

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.