Narus Financial Partners LLC Makes New Investment in Deckers Outdoor Corporation (NYSE:DECK)

Narus Financial Partners LLC purchased a new stake in Deckers Outdoor Corporation (NYSE:DECK - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 42,270 shares of the textile maker's stock, valued at approximately $4,726,000. Deckers Outdoor makes up 1.6% of Narus Financial Partners LLC's holdings, making the stock its 5th biggest position.

Other hedge funds have also made changes to their positions in the company. Prosperity Wealth Management Inc. increased its position in shares of Deckers Outdoor by 2.8% in the fourth quarter. Prosperity Wealth Management Inc. now owns 2,777 shares of the textile maker's stock worth $564,000 after acquiring an additional 75 shares in the last quarter. HighPoint Advisor Group LLC lifted its stake in shares of Deckers Outdoor by 5.3% during the fourth quarter. HighPoint Advisor Group LLC now owns 1,623 shares of the textile maker's stock worth $330,000 after purchasing an additional 81 shares in the last quarter. Gerber Kawasaki Wealth & Investment Management boosted its position in shares of Deckers Outdoor by 4.6% in the fourth quarter. Gerber Kawasaki Wealth & Investment Management now owns 1,902 shares of the textile maker's stock worth $386,000 after buying an additional 84 shares during the period. CIBC Private Wealth Group LLC boosted its position in shares of Deckers Outdoor by 1.9% in the fourth quarter. CIBC Private Wealth Group LLC now owns 4,896 shares of the textile maker's stock worth $1,016,000 after buying an additional 90 shares during the period. Finally, Alcosta Capital Management Inc. raised 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 buying an additional 90 shares during the period. Hedge funds and other institutional investors own 97.79% of the company's stock.

Analyst Ratings Changes

DECK has been the subject of several recent research reports. Stifel Nicolaus lowered their price objective on shares of Deckers Outdoor from $185.00 to $127.00 and set a "hold" rating for the company in a research report on Thursday, April 10th. Citigroup cut their price target on Deckers Outdoor from $215.00 to $150.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. TD Securities raised their price objective on Deckers Outdoor from $150.00 to $175.00 and gave the company a "buy" rating in a research note on Tuesday, May 20th. Raymond James Financial restated a "strong-buy" rating on shares of Deckers Outdoor in a report on Friday, May 23rd. Finally, Cowen reiterated a "buy" rating on shares of Deckers Outdoor in a research note on Tuesday, May 20th. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Deckers Outdoor has an average rating of "Hold" and an average target price of $137.66.

Insider Activity

In other Deckers Outdoor news, insider Angela Ogbechie sold 6,244 shares of Deckers Outdoor stock in a transaction dated Monday, June 2nd. The stock was 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 $2,075,722.20. This trade represents a 23.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Cindy L. Davis purchased 1,825 shares of Deckers Outdoor stock in a transaction on 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 transaction, the director owned 13,340 shares in the company, valued at approximately $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 currently owned by company insiders.

Deckers Outdoor Stock Down 3.0%

NYSE:DECK traded down $3.18 during mid-day trading on Friday, reaching $101.77. 3,166,932 shares of the company were exchanged, compared to its average volume of 2,652,583. The company has a fifty day moving average of $110.32 and a 200 day moving average of $136.33. Deckers Outdoor Corporation has a 12 month low of $93.72 and a 12 month high of $223.98. The stock has a market cap of $15.21 billion, a PE ratio of 16.04, a PEG ratio of 6.38 and a beta of 0.99.

Deckers Outdoor (NYSE:DECK - Get Free Report) last issued its quarterly earnings results on Thursday, May 22nd. The textile maker reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.43. The business had revenue of $1.02 billion for 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 for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.82 earnings per share. On average, equities research analysts anticipate that Deckers Outdoor Corporation will post 5.89 EPS for the current fiscal year.

Deckers Outdoor declared that its Board of Directors has authorized a share buyback program on Thursday, May 22nd that permits the company to buyback $2.25 billion in outstanding shares. This buyback authorization permits the textile maker to repurchase 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 shares are undervalued.

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.