Jag Capital Management LLC Sells 61,924 Shares of Deckers Outdoor Corporation (NYSE:DECK)

Jag Capital Management LLC reduced its position in Deckers Outdoor Corporation (NYSE:DECK - Free Report) by 70.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,536 shares of the textile maker's stock after selling 61,924 shares during the period. Jag Capital Management LLC's holdings in Deckers Outdoor were worth $2,967,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its position in Deckers Outdoor by 18.0% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,805 shares of the textile maker's stock worth $2,209,000 after purchasing an additional 3,028 shares in the last quarter. Cavalier Investments LLC grew its holdings in shares of Deckers Outdoor by 2,637.1% during the first quarter. Cavalier Investments LLC now owns 51,403 shares of the textile maker's stock valued at $5,747,000 after buying an additional 49,525 shares in the last quarter. Achmea Investment Management B.V. grew its holdings in shares of Deckers Outdoor by 24.5% during the first quarter. Achmea Investment Management B.V. now owns 57,529 shares of the textile maker's stock valued at $6,433,000 after buying an additional 11,314 shares in the last quarter. Artemis Investment Management LLP grew its stake in Deckers Outdoor by 19.4% during the 1st quarter. Artemis Investment Management LLP now owns 3,321 shares of the textile maker's stock valued at $371,000 after acquiring an additional 539 shares in the last quarter. Finally, Illinois Municipal Retirement Fund grew its stake in Deckers Outdoor by 4.7% during the 1st quarter. Illinois Municipal Retirement Fund now owns 96,695 shares of the textile maker's stock valued at $10,811,000 after acquiring an additional 4,338 shares in the last quarter. 97.79% of the stock is owned by hedge funds and other institutional investors.

Deckers Outdoor Price Performance

Shares of NYSE DECK traded up $2.41 during mid-day trading on Friday, hitting $104.34. The company had a trading volume of 3,919,944 shares, compared to its average volume of 2,626,308. The business's 50-day simple moving average is $111.26 and its 200-day simple moving average is $143.86. Deckers Outdoor Corporation has a 12 month low of $93.72 and a 12 month high of $223.98. The firm has a market cap of $15.59 billion, a P/E ratio of 16.45, a PEG ratio of 6.19 and a beta of 1.02.

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

Deckers Outdoor announced that its board has authorized a share buyback program on Thursday, May 22nd that allows the company to buyback $2.25 billion in shares. This buyback authorization allows the textile maker to purchase up to 11.7% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's board of directors believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms have recently commented on DECK. Needham & Company LLC set a $150.00 price target on shares of Deckers Outdoor and gave the company a "buy" rating in a report on Wednesday, May 21st. 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. Telsey Advisory Group cut Deckers Outdoor from an "outperform" rating to a "market perform" rating in a research note on Friday, May 23rd. Cowen reissued a "buy" rating on shares of Deckers Outdoor in a research note on Tuesday, May 20th. Finally, Evercore ISI reissued an "in-line" rating and issued a $110.00 target price (down from $235.00) on shares of Deckers Outdoor in a research report on Friday, May 23rd. Fourteen equities research 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 stock. Based on data from MarketBeat.com, Deckers Outdoor has an average rating of "Hold" and an average price target of $140.31.

Insider Buying and Selling

In related news, insider Angela Ogbechie sold 6,244 shares of the business's stock in a transaction that occurred on 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 transaction, the insider now owns 19,980 shares in the company, valued at $2,075,722.20. The trade was a 23.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Cindy L. Davis bought 1,825 shares of the company's stock in a transaction dated Friday, June 6th. The shares were purchased at an average price of $109.76 per share, with a total value of $200,312.00. Following the transaction, the director now owns 13,340 shares of the company's stock, valued at $1,464,198.40. The trade was a 15.85% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.40% of the stock is owned by corporate 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.