Forsta AP Fonden Has $9.31 Million Holdings in Deckers Outdoor Corporation (NYSE:DECK)

Key Points

• Forsta AP Fonden increased its stake in Deckers Outdoor Corporation by 42.4%, now owning approximately 0.05% of the company valued at $9.31 million.
• Deckers reported strong earnings, with an EPS of $0.93 exceeding estimates, and a 16.9% year-over-year revenue growth.
• Analysts have mixed ratings for Deckers stock: one sell, fourteen holds, nine buys, and one strong buy, with a consensus rating of "Hold" and an average price target of $137.50.

Forsta AP Fonden boosted its stake in Deckers Outdoor Corporation (NYSE:DECK - Free Report) by 42.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 83,300 shares of the textile maker's stock after purchasing an additional 24,800 shares during the period. Forsta AP Fonden owned about 0.05% of Deckers Outdoor worth $9,314,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the company. Mpwm Advisory Solutions LLC purchased a new position in shares of Deckers Outdoor in the 4th quarter worth approximately $26,000. Vega Investment Solutions purchased a new stake in shares of Deckers Outdoor during the 4th quarter worth approximately $29,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Deckers Outdoor during the 1st quarter worth approximately $34,000. Fourth Dimension Wealth LLC purchased a new stake in shares of Deckers Outdoor during the 4th quarter worth approximately $41,000. Finally, Itau Unibanco Holding S.A. increased its stake in shares of Deckers Outdoor by 352.1% during 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 last quarter. Institutional investors own 97.79% of the company's stock.

Deckers Outdoor Stock Down 3.0%

Shares of Deckers Outdoor stock traded down $3.18 during trading hours on Thursday, reaching $103.30. 408,238 shares of the company's stock were exchanged, compared to its average volume of 3,408,305. 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 $104.70 and a two-hundred day moving average of $120.39. The company has a market capitalization of $15.32 billion, a P/E ratio of 15.85, a price-to-earnings-growth ratio of 3.94 and a beta of 0.99.

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 the consensus estimate of $0.68 by $0.25. The business had revenue of $964.54 million for 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%. The business's quarterly revenue was up 16.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.52 earnings per share. As a group, research analysts predict that Deckers Outdoor Corporation will post 5.89 EPS for the current year.

Deckers Outdoor declared that its board has authorized 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 buy up to 11.7% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's leadership believes its stock is undervalued.

Insider Activity at Deckers Outdoor

In related 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 owned 19,980 shares of the company's stock, valued at approximately $2,075,722.20. The trade was 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 Maha Saleh Ibrahim sold 300 shares of Deckers Outdoor stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $109.08, for a total value of $32,724.00. Following the completion of the sale, the director owned 10,681 shares of the company's stock, valued at $1,165,083.48. This trade represents a 2.73% decrease in their position. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

DECK has been the subject of several recent research reports. Cowen reissued a "buy" rating on shares of Deckers Outdoor in a research note on Tuesday, May 20th. 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. Telsey Advisory Group reaffirmed a "market perform" rating and set a $120.00 price objective on shares of Deckers Outdoor in a research note on Friday, July 25th. Argus assumed coverage on shares of Deckers Outdoor in a research note on Friday, June 13th. They set a "hold" rating for the company. Finally, Wells Fargo & Company upped their price objective on shares of Deckers Outdoor from $90.00 to $100.00 and gave the company an "equal weight" rating in a research note on Friday, July 25th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Deckers Outdoor has an average rating of "Hold" and an average target price 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.