Generali Investments Towarzystwo Funduszy Inwestycyjnych Raises Stock Holdings in Deckers Outdoor Corporation (NYSE:DECK)

Key Points

• Generali Investments Towarzystwo Funduszy Inwestycyjnych increased its stake in Deckers Outdoor Corporation by 910.0%, acquiring an additional 4,550 shares, bringing its total holdings to 5,050 shares valued at approximately $565,000.
• Deckers Outdoor reported a quarterly earnings per share (EPS) of $0.93, surpassing analysts' expectations of $0.68, with revenue of $964.54 million, up 16.9% year-over-year.
• The company has initiated a $2.25 billion share buyback program to repurchase up to 11.7% of its outstanding shares, indicating management's belief that the stock is undervalued.

Generali Investments Towarzystwo Funduszy Inwestycyjnych raised its holdings in Deckers Outdoor Corporation (NYSE:DECK - Free Report) by 910.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 5,050 shares of the textile maker's stock after acquiring an additional 4,550 shares during the quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych's holdings in Deckers Outdoor were worth $565,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Scotia Capital Inc. bought a new stake in shares of Deckers Outdoor in the 1st quarter valued at $4,233,000. J. Safra Sarasin Holding AG boosted its stake in Deckers Outdoor by 10.1% during the first quarter. J. Safra Sarasin Holding AG now owns 116,464 shares of the textile maker's stock worth $13,022,000 after acquiring an additional 10,693 shares in the last quarter. Cumberland Partners Ltd lifted its stake in shares of Deckers Outdoor by 0.4% in the first quarter. Cumberland Partners Ltd now owns 27,991 shares of the textile maker's stock valued at $3,130,000 after buying an additional 98 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Deckers Outdoor by 1.3% in the first quarter. PNC Financial Services Group Inc. now owns 22,046 shares of the textile maker's stock valued at $2,465,000 after buying an additional 285 shares in the last quarter. Finally, Jupiter Asset Management Ltd. bought a new position in shares of Deckers Outdoor during the first quarter valued at about $49,775,000. 97.79% of the stock is currently owned by institutional investors and hedge funds.

Deckers Outdoor Trading Up 0.8%

Shares of DECK stock traded up $0.82 on Tuesday, reaching $105.95. The company's stock had a trading volume of 512,608 shares, compared to its average volume of 3,459,230. The stock's fifty day simple moving average is $105.03 and its 200-day simple moving average is $124.51. The company has a market capitalization of $15.72 billion, a price-to-earnings ratio of 16.27, a price-to-earnings-growth ratio of 3.94 and a beta of 0.99. Deckers Outdoor Corporation has a 1 year low of $93.72 and a 1 year high of $223.98.

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

Deckers Outdoor declared that its Board of Directors has initiated a stock repurchase 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 board believes its stock is undervalued.

Analyst Ratings Changes

A number of research analysts recently weighed in on DECK shares. Needham & Company LLC reissued a "buy" rating and set a $128.00 price target (up from $120.00) on shares of Deckers Outdoor in a research report on Wednesday, July 23rd. Truist Financial lifted their target price on shares of Deckers Outdoor from $130.00 to $145.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. UBS Group raised their price objective on shares of Deckers Outdoor from $144.00 to $158.00 and gave the company a "buy" rating in a research report on Friday, July 25th. Robert W. Baird boosted their price target on shares of Deckers Outdoor from $140.00 to $150.00 and gave the stock an "outperform" rating in a research note on Friday, July 25th. Finally, KeyCorp reissued a "sector weight" rating and issued a $150.00 price target on shares of Deckers Outdoor in a research note on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Deckers Outdoor currently has a consensus rating of "Hold" and an average price target of $137.50.

Insider Buying and Selling

In other news, Director Maha Saleh Ibrahim sold 300 shares of Deckers Outdoor stock in a transaction on Friday, June 6th. The stock was sold at an average price of $109.08, for a total transaction of $32,724.00. Following the transaction, the director owned 10,681 shares in the company, valued at $1,165,083.48. The trade was a 2.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 value of $648,689.16. Following the sale, the insider directly owned 19,980 shares of the company's stock, valued at $2,075,722.20. The trade was 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.

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.