Illinois Municipal Retirement Fund Increases Stock Holdings in Deckers Outdoor Corporation (NYSE:DECK)

Illinois Municipal Retirement Fund increased its position in shares of Deckers Outdoor Corporation (NYSE:DECK - Free Report) by 4.7% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 96,695 shares of the textile maker's stock after acquiring an additional 4,338 shares during the period. Illinois Municipal Retirement Fund owned about 0.06% of Deckers Outdoor worth $10,811,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. boosted its holdings in Deckers Outdoor by 3.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,001,033 shares of the textile maker's stock worth $203,300,000 after acquiring an additional 32,318 shares in the last quarter. Amundi boosted its holdings in Deckers Outdoor by 11.0% in the fourth quarter. Amundi now owns 1,088,351 shares of the textile maker's stock worth $225,855,000 after acquiring an additional 108,054 shares in the last quarter. HighTower Advisors LLC boosted its holdings in Deckers Outdoor by 13.7% in the fourth quarter. HighTower Advisors LLC now owns 56,276 shares of the textile maker's stock worth $11,429,000 after acquiring an additional 6,788 shares in the last quarter. Proficio Capital Partners LLC bought a new position in Deckers Outdoor in the fourth quarter worth approximately $30,687,000. Finally, Gitterman Wealth Management LLC bought a new position in shares of Deckers Outdoor in the fourth quarter valued at approximately $434,000. Institutional investors own 97.79% of the company's stock.

Deckers Outdoor Price Performance

DECK traded up $2.41 during midday trading on Friday, reaching $104.34. 3,919,944 shares of the company's stock traded hands, compared to its average volume of 2,622,653. The stock has a market capitalization of $15.59 billion, a price-to-earnings ratio of 16.45, a P/E/G ratio of 6.33 and a beta of 1.02. Deckers Outdoor Corporation has a 52 week low of $93.72 and a 52 week high of $223.98. The firm has a fifty day moving average of $111.26 and a two-hundred day moving average of $143.44.

Deckers Outdoor (NYSE:DECK - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The textile maker reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.43. The firm had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.01 billion. Deckers Outdoor had a return on equity of 41.17% and a net margin of 19.49%. The company's revenue was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.82 EPS. Sell-side analysts forecast that Deckers Outdoor Corporation will post 5.89 EPS for the current year.

Deckers Outdoor announced that its Board of Directors has authorized a share buyback plan on Thursday, May 22nd that permits the company to buyback $2.25 billion in shares. This buyback authorization permits the textile maker to purchase up to 11.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Telsey Advisory Group lowered Deckers Outdoor from an "outperform" rating to a "market perform" rating in a report on Friday, May 23rd. Citigroup dropped their price target on Deckers Outdoor from $215.00 to $150.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Evercore ISI reissued an "in-line" rating and issued a $110.00 target price (down from $235.00) on shares of Deckers Outdoor in a research report on Friday, May 23rd. Stifel Nicolaus decreased their target price on Deckers Outdoor from $185.00 to $127.00 and set a "hold" rating for the company in a research report on Thursday, April 10th. Finally, KeyCorp reiterated a "sector weight" rating and issued a $150.00 price target on shares of Deckers Outdoor in a research report on Friday, May 23rd. Fourteen equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $140.31.

Insider Activity

In related news, Director Cindy L. Davis bought 1,825 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were bought at an average cost of $109.76 per share, with a total value of $200,312.00. Following the acquisition, the director now owns 13,340 shares in the company, valued at $1,464,198.40. This trade represents a 15.85% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 value of $32,724.00. Following the completion of the sale, the director now directly owns 10,681 shares in the company, valued at $1,165,083.48. This trade represents a 2.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.