Marks Group Wealth Management Inc Boosts Stock Holdings in Deckers Outdoor Corporation (NYSE:DECK)

Marks Group Wealth Management Inc boosted its position in Deckers Outdoor Corporation (NYSE:DECK - Free Report) by 15.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 62,902 shares of the textile maker's stock after purchasing an additional 8,410 shares during the period. Marks Group Wealth Management Inc's holdings in Deckers Outdoor were worth $7,033,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Revolve Wealth Partners LLC acquired a new stake in shares of Deckers Outdoor during the fourth quarter worth $247,000. Proficio Capital Partners LLC acquired a new position in shares of Deckers Outdoor in the fourth quarter worth about $30,687,000. HighTower Advisors LLC raised its position in shares of Deckers Outdoor by 13.7% in the fourth quarter. HighTower Advisors LLC now owns 56,276 shares of the textile maker's stock worth $11,429,000 after acquiring an additional 6,788 shares during the period. PFG Advisors purchased a new stake in shares of Deckers Outdoor during the fourth quarter worth about $354,000. Finally, Sequoia Financial Advisors LLC grew its stake in Deckers Outdoor by 43.2% during the 4th quarter. Sequoia Financial Advisors LLC now owns 4,276 shares of the textile maker's stock valued at $868,000 after acquiring an additional 1,291 shares in the last quarter. Institutional investors own 97.79% of the company's stock.

Deckers Outdoor Trading Down 3.2%

NYSE:DECK traded down $3.28 during trading hours on Monday, hitting $98.45. 1,684,030 shares of the company were exchanged, compared to its average volume of 2,649,399. The company has a fifty day simple moving average of $110.32 and a 200 day simple moving average of $135.81. Deckers Outdoor Corporation has a one year low of $93.72 and a one year high of $223.98. The stock has a market capitalization of $14.71 billion, a price-to-earnings ratio of 15.56, a price-to-earnings-growth ratio of 6.18 and a beta of 0.99.

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, beating analysts' consensus estimates of $0.57 by $0.43. The business had revenue of $1.02 billion during 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%. The firm's revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.82 EPS. Equities research analysts predict that Deckers Outdoor Corporation will post 5.89 earnings per share for the current fiscal year.

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

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on DECK. Telsey Advisory Group lowered shares of Deckers Outdoor from an "outperform" rating to a "market perform" rating in a report on Friday, May 23rd. Citigroup cut their price objective on Deckers Outdoor from $215.00 to $150.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. The Goldman Sachs Group initiated coverage on shares of Deckers Outdoor in a report on Wednesday, July 2nd. They issued a "sell" rating and a $90.00 price objective on the stock. Barclays reiterated an "overweight" rating and set a $128.00 price target (down from $129.00) on shares of Deckers Outdoor in a research note on Thursday, May 22nd. Finally, TD Securities raised their price objective on shares of Deckers Outdoor from $150.00 to $175.00 and gave the stock a "buy" rating in a research report on Tuesday, May 20th. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $137.66.

Insider Transactions at Deckers Outdoor

In related news, insider Angela Ogbechie sold 6,244 shares of Deckers Outdoor 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 sale, the insider owned 19,980 shares of the company's stock, valued at approximately $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 can be accessed through this hyperlink. Also, Director Maha Saleh Ibrahim sold 300 shares of the business's stock in a transaction 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 sale, the director directly owned 10,681 shares in the company, valued at $1,165,083.48. The trade was a 2.73% decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.40% of the company's stock.

Deckers Outdoor Company 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.