LPL Financial LLC Has $25.89 Million Position in Deckers Outdoor Corporation (NYSE:DECK)

Key Points

• LPL Financial LLC has raised its position in Deckers Outdoor Corporation by 18.1%, owning 231,567 shares worth approximately $25.89 million as of the most recent quarter.
• Deckers Outdoor reported strong earnings, with $0.93 EPS surpassing estimates of $0.68, and a revenue of $964.54 million for the quarter, reflecting a 16.9% year-over-year increase.
• The company initiated a $2.25 billion share buyback program, indicating management’s belief that the stock is currently undervalued.

LPL Financial LLC boosted its position in shares of Deckers Outdoor Corporation (NYSE:DECK - Free Report) by 18.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 231,567 shares of the textile maker's stock after purchasing an additional 35,554 shares during the period. LPL Financial LLC owned approximately 0.15% of Deckers Outdoor worth $25,891,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of DECK. Pacer Advisors Inc. raised its position in shares of Deckers Outdoor by 4,770.0% during the 1st quarter. Pacer Advisors Inc. now owns 641,082 shares of the textile maker's stock valued at $71,679,000 after buying an additional 627,918 shares during the period. Jacobs Levy Equity Management Inc. raised its position in Deckers Outdoor by 204.8% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 889,624 shares of the textile maker's stock valued at $180,674,000 after purchasing an additional 597,743 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Deckers Outdoor by 101.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 1,003,743 shares of the textile maker's stock valued at $203,850,000 after purchasing an additional 505,139 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Deckers Outdoor by 69.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,034,191 shares of the textile maker's stock worth $210,034,000 after purchasing an additional 424,702 shares during the period. Finally, Clark Capital Management Group Inc. increased its position in shares of Deckers Outdoor by 2,155.1% during the 4th quarter. Clark Capital Management Group Inc. now owns 255,837 shares of the textile maker's stock worth $51,958,000 after purchasing an additional 244,492 shares during the last quarter. 97.79% of the stock is owned by hedge funds and other institutional investors.

Deckers Outdoor Trading Down 0.2%

NYSE:DECK traded down $0.26 during midday trading on Wednesday, hitting $105.65. 1,722,496 shares of the company were exchanged, compared to its average volume of 4,573,915. Deckers Outdoor Corporation has a fifty-two week low of $93.72 and a fifty-two week high of $223.98. The company has a market capitalization of $15.67 billion, a PE ratio of 16.20, a price-to-earnings-growth ratio of 4.04 and a beta of 0.99. The company has a fifty day simple moving average of $105.00 and a 200 day simple moving average of $124.26.

Deckers Outdoor (NYSE:DECK - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The textile maker reported $0.93 EPS for the quarter, topping analysts' consensus estimates of $0.68 by $0.25. Deckers Outdoor had a return on equity of 40.49% and a net margin of 19.42%. The firm had revenue of $964.54 million during the quarter, compared to analysts' expectations of $901.45 million. During the same quarter last year, the business posted $4.52 EPS. The firm's quarterly revenue was up 16.9% compared to the same quarter last year. As a group, equities research analysts expect that Deckers Outdoor Corporation will post 5.89 EPS for the current year.

Deckers Outdoor announced that its Board of Directors has initiated 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 buy up to 11.7% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's leadership believes its stock is undervalued.

Insiders Place Their Bets

In other Deckers Outdoor news, insider Angela Ogbechie sold 6,244 shares of the firm's stock in a transaction dated 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 directly owned 19,980 shares in the company, valued at $2,075,722.20. This trade represents a 23.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Cindy L. Davis purchased 1,825 shares of the business's stock in a transaction dated Friday, June 6th. The shares were purchased at an average cost of $109.76 per share, with a total value of $200,312.00. Following the completion of the purchase, the director directly owned 13,340 shares in the company, valued at approximately $1,464,198.40. This represents 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 company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on DECK shares. KGI Securities raised shares of Deckers Outdoor to a "hold" rating in a research note on Monday, May 26th. Argus assumed coverage on Deckers Outdoor in a research report on Friday, June 13th. They issued a "hold" rating on the stock. UBS Group upped their price target on Deckers Outdoor from $144.00 to $158.00 and gave the stock a "buy" rating in a research note on Friday, July 25th. Robert W. Baird lifted their price objective on Deckers Outdoor from $140.00 to $150.00 and gave the company an "outperform" rating in a research note on Friday, July 25th. Finally, Telsey Advisory Group reissued a "market perform" rating and set a $120.00 target price on shares of Deckers Outdoor 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 given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Deckers Outdoor presently has an average rating of "Hold" and a consensus price target of $137.50.

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.