Natixis Advisors LLC Reduces Holdings in Deckers Outdoor Corporation (NYSE:DECK)

Key Points

• Deckers Outdoor Corporation's shares have seen a decline of 0.2%, trading at $105.65 with a market cap of $15.67 billion and a PE ratio of 16.20.
• Natixis Advisors LLC has reduced its stake in Deckers by 9.6%, now owning 57,735 shares valued at approximately $6.46 million.
• The company announced a $2.25 billion share buyback plan, indicating management’s belief that the stock is undervalued.

Natixis Advisors LLC trimmed its holdings in shares of Deckers Outdoor Corporation (NYSE:DECK - Free Report) by 9.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 57,735 shares of the textile maker's stock after selling 6,153 shares during the quarter. Natixis Advisors LLC's holdings in Deckers Outdoor were worth $6,455,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of DECK. Marks Group Wealth Management Inc raised its position in shares of Deckers Outdoor by 15.4% in the 1st quarter. Marks Group Wealth Management Inc now owns 62,902 shares of the textile maker's stock worth $7,033,000 after acquiring an additional 8,410 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in shares of Deckers Outdoor by 17.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 17,864 shares of the textile maker's stock worth $1,997,000 after buying an additional 2,706 shares during the last quarter. Park Avenue Securities LLC raised its stake in shares of Deckers Outdoor by 32.3% during the 1st quarter. Park Avenue Securities LLC now owns 26,929 shares of the textile maker's stock worth $3,011,000 after acquiring an additional 6,569 shares in the last quarter. Principal Financial Group Inc. lifted its position in Deckers Outdoor by 17.7% during the first quarter. Principal Financial Group Inc. now owns 587,747 shares of the textile maker's stock valued at $65,716,000 after acquiring an additional 88,179 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Deckers Outdoor in the first quarter valued at approximately $493,000. Institutional investors own 97.79% of the company's stock.

Deckers Outdoor Stock Performance

Shares of NYSE:DECK traded down $3.92 during midday trading on Thursday, reaching $101.80. 3,315,508 shares of the company's stock traded hands, compared to its average volume of 4,517,461. The company has a fifty day simple moving average of $104.89 and a two-hundred day simple moving average of $123.51. Deckers Outdoor Corporation has a 1 year low of $93.72 and a 1 year high of $223.98. The company has a market cap of $15.10 billion, a P/E ratio of 16.22, a PEG ratio of 4.03 and a beta of 0.99.

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

Deckers Outdoor declared that its board has authorized a share buyback program on Thursday, May 22nd that authorizes the company to buyback $2.25 billion in outstanding shares. This buyback authorization authorizes the textile maker to reacquire up to 11.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on DECK shares. Robert W. Baird boosted their price target on Deckers Outdoor from $140.00 to $150.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Truist Financial raised their target price on Deckers Outdoor from $130.00 to $145.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Citigroup lowered their price target on Deckers Outdoor from $215.00 to $150.00 and set a "buy" rating for the company in a research report on Monday, April 28th. Stifel Nicolaus cut their price objective on Deckers Outdoor from $185.00 to $127.00 and set a "hold" rating on the stock in a report on Thursday, April 10th. Finally, Cowen restated a "buy" rating on shares of Deckers Outdoor in a research note on Tuesday, May 20th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Deckers Outdoor has a consensus rating of "Hold" and a consensus target price of $137.50.

Insider Activity at Deckers Outdoor

In other Deckers Outdoor news, Director Maha Saleh Ibrahim sold 300 shares of Deckers Outdoor stock in a transaction on Friday, June 6th. The shares were sold at an average price of $109.08, for a total transaction of $32,724.00. Following the sale, the director owned 10,681 shares of the company's stock, valued at $1,165,083.48. The trade was a 2.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Angela Ogbechie sold 6,244 shares of the firm's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $103.89, for a total transaction 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. This represents a 23.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.40% of the stock is owned by corporate insiders.

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.