Highland Capital Management LLC Invests $1.16 Million in Deckers Outdoor Corporation (NYSE:DECK)

Highland Capital Management LLC acquired a new stake in shares of Deckers Outdoor Corporation (NYSE:DECK - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 10,399 shares of the textile maker's stock, valued at approximately $1,163,000.

Several other institutional investors have also modified their holdings of the business. Prosperity Wealth Management Inc. lifted its holdings in shares of Deckers Outdoor by 2.8% during the 4th quarter. Prosperity Wealth Management Inc. now owns 2,777 shares of the textile maker's stock valued at $564,000 after purchasing an additional 75 shares in the last quarter. HighPoint Advisor Group LLC lifted its holdings 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 valued at $330,000 after purchasing an additional 81 shares in the last quarter. Gerber Kawasaki Wealth & Investment Management lifted its holdings in shares of Deckers Outdoor by 4.6% during the 4th quarter. Gerber Kawasaki Wealth & Investment Management now owns 1,902 shares of the textile maker's stock valued at $386,000 after purchasing an additional 84 shares in the last quarter. CIBC Private Wealth Group LLC lifted its holdings in shares of Deckers Outdoor by 1.9% during 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 purchasing an additional 90 shares in the last quarter. Finally, Alcosta Capital Management Inc. lifted its holdings in shares of Deckers Outdoor by 0.3% during the 4th quarter. Alcosta Capital Management Inc. now owns 33,787 shares of the textile maker's stock valued at $6,862,000 after purchasing an additional 90 shares in the last quarter. Institutional investors own 97.79% of the company's stock.

Analysts Set New Price Targets

DECK has been the topic of several recent analyst reports. Argus initiated coverage on Deckers Outdoor in a report on Friday, June 13th. They set a "hold" rating on the stock. Cowen restated a "buy" rating on shares of Deckers Outdoor in a research note on Tuesday, May 20th. KeyCorp restated a "sector weight" rating and issued a $150.00 target price on shares of Deckers Outdoor in a research note on Friday, May 23rd. Bank of America cut their target price on Deckers Outdoor from $154.00 to $128.00 and set a "neutral" rating on the stock in a research note on Friday, May 23rd. Finally, KGI Securities upgraded Deckers Outdoor to a "hold" rating in a research note on Monday, May 26th. Fourteen analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $140.31.

Deckers Outdoor Trading Up 2.4%

DECK stock opened at $104.34 on Friday. The firm has a market capitalization of $15.59 billion, a PE ratio of 16.45, a PEG ratio of 6.33 and a beta of 1.02. Deckers Outdoor Corporation has a 1-year low of $93.72 and a 1-year high of $223.98. The business's 50 day simple moving average is $111.26 and its 200 day simple moving average is $143.44.

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

Deckers Outdoor announced that its board has authorized a share repurchase plan on Thursday, May 22nd that authorizes the company to buyback $2.25 billion in shares. This buyback authorization authorizes the textile maker to repurchase up to 11.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company's board believes its stock is undervalued.

Insider Buying and Selling at Deckers Outdoor

In other news, Director Maha Saleh Ibrahim sold 300 shares of the company's 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 completion of the sale, the director now directly owns 10,681 shares in the company, valued at approximately $1,165,083.48. This represents a 2.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Cindy L. Davis bought 1,825 shares of the business's stock in a transaction dated Friday, June 6th. The shares were bought at an average price of $109.76 per share, with a total value of $200,312.00. Following the completion of the transaction, the director now owns 13,340 shares in the company, valued at approximately $1,464,198.40. This trade represents a 15.85% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.40% of the company's stock.

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.

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