Jefferies Financial Group Inc. Cuts Position in Deckers Outdoor Corporation (NYSE:DECK)

Key Points

• Jefferies Financial Group Inc. reduced its stake in Deckers Outdoor Corporation by 30.7%, owning 12,545 shares valued at approximately $1.4 million after selling 5,564 shares in the first quarter.
• Deckers Outdoor reported a strong earnings beat with an EPS of $0.93, exceeding analysts' expectations, alongside a revenue growth of 16.9% year-over-year.
• The company's Board of Directors initiated a $2.25 billion share buyback program, which allows them to repurchase up to 11.7% of its shares, signaling confidence in the stock's valuation.

Jefferies Financial Group Inc. lessened its holdings in Deckers Outdoor Corporation (NYSE:DECK - Free Report) by 30.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 12,545 shares of the textile maker's stock after selling 5,564 shares during the quarter. Jefferies Financial Group Inc.'s holdings in Deckers Outdoor were worth $1,403,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mpwm Advisory Solutions LLC purchased a new stake in Deckers Outdoor in the fourth quarter worth about $26,000. Headlands Technologies LLC purchased a new stake in Deckers Outdoor in the fourth quarter worth about $29,000. Vega Investment Solutions purchased a new stake in Deckers Outdoor in the fourth quarter worth about $29,000. Fourth Dimension Wealth LLC purchased a new stake in Deckers Outdoor in the fourth quarter worth about $41,000. Finally, Itau Unibanco Holding S.A. grew its holdings in Deckers Outdoor by 352.1% in the fourth quarter. Itau Unibanco Holding S.A. now owns 217 shares of the textile maker's stock worth $44,000 after purchasing an additional 169 shares during the period. Hedge funds and other institutional investors own 97.79% of the company's stock.

Deckers Outdoor Stock Down 2.7%

Shares of Deckers Outdoor stock opened at $103.29 on Monday. The company has a market cap of $15.32 billion, a price-to-earnings ratio of 15.84, a price-to-earnings-growth ratio of 3.94 and a beta of 0.99. The company's 50 day moving average is $104.94 and its 200 day moving average is $125.83. Deckers Outdoor Corporation has a twelve month low of $93.72 and a twelve month 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, beating analysts' consensus estimates of $0.68 by $0.25. Deckers Outdoor had a net margin of 19.42% and a return on equity of 40.49%. The business had revenue of $964.54 million during the quarter, compared to analysts' expectations of $901.45 million. During the same period in the prior year, the company earned $4.52 earnings per share. The firm's revenue was up 16.9% on a year-over-year basis. Sell-side analysts expect that Deckers Outdoor Corporation will post 5.89 EPS for the current fiscal year.

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

Analyst Upgrades and Downgrades

DECK has been the topic of several analyst reports. Robert W. Baird upped their target price 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. Needham & Company LLC reiterated a "buy" rating and issued a $128.00 target price (up previously from $120.00) on shares of Deckers Outdoor in a research note on Wednesday, July 23rd. Raymond James Financial upped their target price on shares of Deckers Outdoor from $123.00 to $137.00 and gave the stock a "strong-buy" rating in a research note on Friday, July 25th. Cowen reiterated a "buy" rating on shares of Deckers Outdoor in a research note on Tuesday, May 20th. Finally, Wells Fargo & Company upped their target price on shares of Deckers Outdoor from $90.00 to $100.00 and gave the stock an "equal weight" rating in a research note on Friday, July 25th. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $137.50.

Insider Buying and Selling at Deckers Outdoor

In other Deckers Outdoor news, Director Maha Saleh Ibrahim sold 300 shares of the company's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $109.08, for a total transaction of $32,724.00. Following the completion of the sale, the director directly owned 10,681 shares of the company's stock, valued at approximately $1,165,083.48. This represents a 2.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Cindy L. Davis bought 1,825 shares of Deckers Outdoor stock in a transaction on Friday, June 6th. The shares were acquired at an average cost of $109.76 per share, with a total value of $200,312.00. Following the completion of the acquisition, the director owned 13,340 shares of the company's stock, valued at $1,464,198.40. The trade was a 15.85% increase in their position. The disclosure for this purchase 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.

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