Harbor Capital Advisors Inc. Invests $339,000 in Deckers Outdoor Corporation (NYSE:DECK)

Harbor Capital Advisors Inc. bought a new stake in Deckers Outdoor Corporation (NYSE:DECK - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 3,032 shares of the textile maker's stock, valued at approximately $339,000.

Other large investors also recently added to or reduced their stakes in the company. Prosperity Wealth Management Inc. grew its stake in Deckers Outdoor by 2.8% in the 4th quarter. Prosperity Wealth Management Inc. now owns 2,777 shares of the textile maker's stock valued at $564,000 after buying an additional 75 shares during the last quarter. WD Rutherford LLC lifted its position in shares of Deckers Outdoor by 4.8% during the 4th quarter. WD Rutherford LLC now owns 1,735 shares of the textile maker's stock worth $352,000 after purchasing an additional 79 shares during the last quarter. HighPoint Advisor Group LLC lifted its position in shares of Deckers Outdoor by 5.3% during the 4th quarter. HighPoint Advisor Group LLC now owns 1,623 shares of the textile maker's stock worth $330,000 after purchasing an additional 81 shares during the last quarter. Gerber Kawasaki Wealth & Investment Management grew its holdings in Deckers Outdoor by 4.6% in the 4th quarter. Gerber Kawasaki Wealth & Investment Management now owns 1,902 shares of the textile maker's stock valued at $386,000 after buying an additional 84 shares during the last quarter. Finally, CIBC Private Wealth Group LLC grew its holdings in Deckers Outdoor by 1.9% in the 4th quarter. CIBC Private Wealth Group LLC now owns 4,896 shares of the textile maker's stock valued at $1,016,000 after buying an additional 90 shares during the last quarter. 97.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Piper Sandler lowered their price objective on shares of Deckers Outdoor from $210.00 to $100.00 and set a "neutral" rating on the stock in a research note on Friday, April 11th. Evercore ISI restated an "in-line" rating and issued a $110.00 price objective (down previously from $235.00) on shares of Deckers Outdoor in a research report on Friday, May 23rd. Wells Fargo & Company dropped their price objective on Deckers Outdoor from $120.00 to $100.00 and set an "equal weight" rating for the company in a report on Friday, May 23rd. Cowen reaffirmed a "buy" rating on shares of Deckers Outdoor in a research note on Tuesday, May 20th. Finally, KeyCorp restated a "sector weight" rating and set a $150.00 target price on shares of Deckers Outdoor in a research report on Friday, May 23rd. Fourteen investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Deckers Outdoor presently has a consensus rating of "Hold" and an average target price of $134.68.

Insider Transactions at Deckers Outdoor

In related news, Director Maha Saleh Ibrahim sold 300 shares of the company's 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 now directly owns 10,681 shares of the company's stock, valued at $1,165,083.48. This represents a 2.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Angela Ogbechie sold 6,244 shares of the business's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $103.89, for a total value of $648,689.16. Following the transaction, the insider now owns 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 disclosure for this sale can be found here. Insiders own 0.40% of the company's stock.

Deckers Outdoor Stock Down 1.3%

DECK traded down $1.37 during trading hours on Wednesday, hitting $101.24. The stock had a trading volume of 1,399,731 shares, compared to its average volume of 2,602,062. The stock has a market cap of $15.13 billion, a PE ratio of 15.96, a price-to-earnings-growth ratio of 6.29 and a beta of 1.02. The company's fifty day simple moving average is $112.20 and its 200 day simple moving average is $149.02. 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 posted its quarterly earnings results on Thursday, May 22nd. The textile maker reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.43. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Deckers Outdoor had a return on equity of 41.17% and a net margin of 19.49%. Deckers Outdoor's revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the company earned $0.82 EPS. As a group, equities analysts expect that Deckers Outdoor Corporation will post 5.89 EPS for the current year.

Deckers Outdoor announced that its Board of Directors has authorized a stock repurchase 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 repurchase up to 11.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

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.