National Bank of Canada FI Acquires 45,723 Shares of Deckers Outdoor Corporation (NYSE:DECK)

Key Points

• The National Bank of Canada FI increased its stake in Deckers Outdoor Corporation by 59.0%, acquiring an additional 45,723 shares to hold a total of 123,168 shares, valued at approximately $13.77 million.
• Insider Angela Ogbechie sold 6,244 shares for around $648,689, resulting in a 23.81% decrease in her ownership of Deckers stock.
• Deckers Outdoor has a consensus rating of "Hold" from analysts and recently reported a 16.9% year-over-year increase in revenue, totaling $964.54 million for the last quarter.

National Bank of Canada FI boosted its stake in Deckers Outdoor Corporation (NYSE:DECK - Free Report) by 59.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 123,168 shares of the textile maker's stock after acquiring an additional 45,723 shares during the quarter. National Bank of Canada FI owned about 0.08% of Deckers Outdoor worth $13,771,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Mpwm Advisory Solutions LLC bought a new position in Deckers Outdoor during the fourth quarter worth $26,000. Vega Investment Solutions bought a new position in Deckers Outdoor during the fourth quarter worth $29,000. Mountain Hill Investment Partners Corp. bought a new position in Deckers Outdoor during the first quarter worth $34,000. Fourth Dimension Wealth LLC bought a new position in Deckers Outdoor during the fourth quarter worth $41,000. Finally, Itau Unibanco Holding S.A. lifted its stake in Deckers Outdoor by 352.1% during 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 last quarter. Hedge funds and other institutional investors own 97.79% of the company's stock.

Deckers Outdoor Trading Down 1.0%

NYSE DECK traded down $1.05 during trading on Friday, reaching $102.81. 2,655,669 shares of the company's stock were exchanged, compared to its average volume of 3,976,303. Deckers Outdoor Corporation has a fifty-two week low of $93.72 and a fifty-two week high of $223.98. The firm has a market capitalization of $15.25 billion, a PE ratio of 15.77, a P/E/G ratio of 3.94 and a beta of 0.99. The company's fifty day simple moving average is $104.48 and its 200-day simple moving average is $118.86.

Deckers Outdoor (NYSE:DECK - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The textile maker reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.25. The business had revenue of $964.54 million during the quarter, compared to analyst estimates of $901.45 million. Deckers Outdoor had a return on equity of 40.49% and a net margin of 19.42%. The firm's revenue was up 16.9% on a year-over-year basis. During the same period in the previous year, the company earned $4.52 EPS. Equities analysts forecast 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 plan on Thursday, May 22nd that authorizes the company to repurchase $2.25 billion in outstanding shares. This repurchase authorization authorizes the textile maker to purchase up to 11.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are undervalued.

Insider Activity

In other news, Director Cindy L. Davis purchased 1,825 shares of Deckers Outdoor stock in a transaction dated Friday, June 6th. The stock was acquired at an average cost of $109.76 per share, for a total transaction of $200,312.00. Following the acquisition, the director directly owned 13,340 shares in the company, valued at $1,464,198.40. This represents a 15.85% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Maha Saleh Ibrahim sold 300 shares of Deckers Outdoor stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $109.08, for a total value of $32,724.00. Following the sale, the director 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 disclosure for this sale can be found here. 0.40% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. Bank of America reduced their price objective on Deckers Outdoor from $128.00 to $114.00 and set a "neutral" rating on the stock in a research note on Thursday, July 17th. Barclays raised their target price on Deckers Outdoor from $128.00 to $134.00 and gave the company an "overweight" rating in a research note on Friday, July 25th. KeyCorp reiterated a "sector weight" rating and issued a $150.00 target price on shares of Deckers Outdoor in a research note on Friday, May 23rd. Wells Fargo & Company raised their target price on Deckers Outdoor from $90.00 to $100.00 and gave the company an "equal weight" rating in a research note on Friday, July 25th. Finally, Needham & Company LLC reissued a "buy" rating and set a $128.00 price target (up from $120.00) on shares of Deckers Outdoor in a report on Wednesday, July 23rd. One equities research 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 company currently has a consensus rating of "Hold" and an average target price of $137.50.

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.