Edgestream Partners L.P. Takes $7.11 Million Position in Deckers Outdoor Corporation (NYSE:DECK)

Edgestream Partners L.P. bought a new position in shares of Deckers Outdoor Corporation (NYSE:DECK - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 63,608 shares of the textile maker's stock, valued at approximately $7,112,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mpwm Advisory Solutions LLC bought a new stake in Deckers Outdoor in the fourth quarter valued at about $26,000. Headlands Technologies LLC bought a new stake in Deckers Outdoor in the fourth quarter valued at about $29,000. Vega Investment Solutions bought a new stake in Deckers Outdoor in the fourth quarter valued at about $29,000. Whittier Trust Co. of Nevada Inc. increased its holdings in 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 buying an additional 120 shares during the last quarter. Finally, Fourth Dimension Wealth LLC bought a new stake in Deckers Outdoor in the fourth quarter valued at about $41,000. 97.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

DECK has been the subject of a number of research reports. Needham & Company LLC set a $150.00 target price on Deckers Outdoor and gave the company a "buy" rating in a research note on Wednesday, May 21st. Wells Fargo & Company reduced their price objective on Deckers Outdoor from $120.00 to $100.00 and set an "equal weight" rating for the company in a research report on Friday, May 23rd. KGI Securities upgraded Deckers Outdoor to a "hold" rating in a research report on Monday, May 26th. UBS Group reduced their price objective on Deckers Outdoor from $169.00 to $144.00 and set a "buy" rating for the company in a research report on Thursday. Finally, Citigroup reduced their price objective 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. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $135.61.

Deckers Outdoor Price Performance

Shares of NYSE:DECK traded up $3.33 on Thursday, reaching $101.21. 4,533,853 shares of the company traded hands, compared to its average volume of 2,693,383. The company's 50 day moving average is $109.02 and its 200-day moving average is $134.52. The stock has a market capitalization of $15.13 billion, a PE ratio of 15.96, a P/E/G ratio of 5.79 and a beta of 0.99. Deckers Outdoor Corporation has a fifty-two week low of $93.72 and a fifty-two week high of $223.98.

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

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

Insiders Place Their Bets

In related news, insider Angela Ogbechie sold 6,244 shares of the 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 sale, the insider owned 19,980 shares in the company, valued at approximately $2,075,722.20. This trade represents a 23.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Cindy L. Davis bought 1,825 shares of Deckers Outdoor stock in a transaction that occurred on Friday, June 6th. The stock was bought at an average price of $109.76 per share, with a total value of $200,312.00. Following the purchase, the director owned 13,340 shares of the company's stock, valued at $1,464,198.40. This trade represents a 15.85% increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.40% of the company's stock.

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.