GF Fund Management CO. LTD. Takes $8.17 Million Position in Deckers Outdoor Co. (NYSE:DECK)

GF Fund Management CO. LTD. acquired a new stake in shares of Deckers Outdoor Co. (NYSE:DECK - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 40,223 shares of the textile maker's stock, valued at approximately $8,169,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank purchased a new position in Deckers Outdoor in the 4th quarter worth approximately $392,583,000. JPMorgan Chase & Co. boosted its stake in shares of Deckers Outdoor by 929.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,296,894 shares of the textile maker's stock valued at $206,790,000 after buying an additional 1,170,855 shares during the last quarter. Raymond James Financial Inc. purchased a new position in shares of Deckers Outdoor during the 4th quarter valued at approximately $185,451,000. Jacobs Levy Equity Management Inc. boosted its stake in shares of Deckers Outdoor by 204.8% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 889,624 shares of the textile maker's stock valued at $180,674,000 after buying an additional 597,743 shares during the last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in Deckers Outdoor by 101.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 1,003,743 shares of the textile maker's stock worth $203,850,000 after purchasing an additional 505,139 shares during the last quarter. Institutional investors and hedge funds own 97.79% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on DECK shares. Truist Financial lowered their price target on Deckers Outdoor from $235.00 to $225.00 and set a "buy" rating on the stock in a report on Friday, January 31st. Stifel Nicolaus reduced their target price on Deckers Outdoor from $185.00 to $127.00 and set a "hold" rating for the company in a report on Thursday, April 10th. Raymond James reaffirmed a "strong-buy" rating on shares of Deckers Outdoor in a research note on Friday, May 23rd. Barclays reaffirmed an "overweight" rating and set a $128.00 price target (down previously from $129.00) on shares of Deckers Outdoor in a research note on Thursday, May 22nd. Finally, Piper Sandler lowered their price target on Deckers Outdoor from $210.00 to $100.00 and set a "neutral" rating for the company in a report on Friday, April 11th. Thirteen research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $134.68.

Deckers Outdoor Stock Performance

Shares of Deckers Outdoor stock traded up $3.45 during midday trading on Thursday, hitting $107.77. The company had a trading volume of 2,478,920 shares, compared to its average volume of 2,540,636. The company has a 50 day moving average of $113.77 and a 200 day moving average of $156.74. Deckers Outdoor Co. has a 52-week low of $93.72 and a 52-week high of $223.98. The stock has a market capitalization of $16.36 billion, a P/E ratio of 17.47, a P/E/G ratio of 1.68 and a beta of 1.11.

Deckers Outdoor (NYSE:DECK - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The textile maker reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.43. Deckers Outdoor had a return on equity of 41.71% and a net margin of 19.14%. The company had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same period in the previous year, the firm posted $0.82 earnings per share. The firm's revenue for the quarter was up 6.5% on a year-over-year basis. Equities research analysts forecast that Deckers Outdoor Co. will post 5.89 EPS for the current year.

Deckers Outdoor announced that its board has approved a share repurchase program 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 stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In related news, Director David Powers sold 25,000 shares of Deckers Outdoor stock in a transaction on Friday, February 28th. The shares were sold at an average price of $138.84, for a total transaction of $3,471,000.00. Following the sale, the director now directly owns 241,777 shares in the company, valued at $33,568,318.68. This trade represents a 9.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Maha Saleh Ibrahim sold 300 shares of Deckers Outdoor stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $134.48, for a total transaction of $40,344.00. Following the completion of the sale, the director now directly owns 10,388 shares in the company, valued at approximately $1,396,978.24. The trade was a 2.81% decrease in their position. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by insiders.

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.