Novem Group Buys New Position in Deckers Outdoor Co. (NYSE:DECK)

Novem Group purchased a new position in shares of Deckers Outdoor Co. (NYSE:DECK - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,505 shares of the textile maker's stock, valued at approximately $915,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Allspring Global Investments Holdings LLC boosted its position in shares of Deckers Outdoor by 109.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 449,683 shares of the textile maker's stock valued at $91,965,000 after acquiring an additional 235,091 shares during the last quarter. Navellier & Associates Inc. increased its stake in Deckers Outdoor by 6.4% in the fourth quarter. Navellier & Associates Inc. now owns 29,806 shares of the textile maker's stock valued at $6,053,000 after purchasing an additional 1,791 shares during the last quarter. Wilmington Savings Fund Society FSB grew its position in shares of Deckers Outdoor by 62.6% in the 4th quarter. Wilmington Savings Fund Society FSB now owns 6,928 shares of the textile maker's stock valued at $1,407,000 after buying an additional 2,668 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Deckers Outdoor by 3.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,001,033 shares of the textile maker's stock worth $203,300,000 after purchasing an additional 32,318 shares in the last quarter. Finally, Amundi increased its holdings in shares of Deckers Outdoor by 11.0% in the 4th quarter. Amundi now owns 1,088,351 shares of the textile maker's stock valued at $225,855,000 after acquiring an additional 108,054 shares during the period. Institutional investors and hedge funds own 97.79% of the company's stock.

Deckers Outdoor Stock Down 20.0%

DECK stock traded down $25.20 during trading on Friday, reaching $100.89. 19,555,239 shares of the company's stock were exchanged, compared to its average volume of 2,516,812. Deckers Outdoor Co. has a 1-year low of $93.72 and a 1-year high of $223.98. The company's fifty day moving average price is $114.55 and its 200-day moving average price is $158.06. The firm has a market cap of $15.31 billion, a PE ratio of 16.36, a P/E/G ratio of 1.68 and a beta of 1.11.

Deckers Outdoor (NYSE:DECK - Get Free Report) last announced its earnings results on Thursday, May 22nd. The textile maker reported $1.00 EPS for the quarter, topping the consensus estimate of $0.57 by $0.43. Deckers Outdoor had a return on equity of 41.71% and a net margin of 19.14%. The firm had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same quarter in the previous year, the company earned $0.82 earnings per share. The firm's quarterly revenue was up 6.5% compared to the same quarter last year. As a group, sell-side analysts expect that Deckers Outdoor Co. will post 5.89 earnings per share for the current fiscal year.

Deckers Outdoor announced that its board has initiated a stock repurchase plan on Thursday, May 22nd that allows the company to repurchase $2.25 billion in shares. This repurchase authorization allows the textile maker to reacquire up to 11.7% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling

In related news, Director David Powers sold 25,000 shares of the stock in a transaction on Friday, February 28th. The stock was sold at an average price of $138.84, for a total transaction of $3,471,000.00. Following the completion of the sale, the director now directly owns 241,777 shares in the company, valued at approximately $33,568,318.68. This trade represents a 9.37% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Maha Saleh Ibrahim sold 300 shares of Deckers Outdoor stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $134.48, for a total value of $40,344.00. Following the sale, the director now owns 10,388 shares of the company's stock, valued at approximately $1,396,978.24. This represents a 2.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.40% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on DECK. Cowen reiterated a "buy" rating on shares of Deckers Outdoor in a research report on Tuesday, May 20th. Stifel Nicolaus lowered their target price on shares of Deckers Outdoor from $185.00 to $127.00 and set a "hold" rating for the company in a report on Thursday, April 10th. Bank of America cut their target price on shares of Deckers Outdoor from $154.00 to $128.00 and set a "neutral" rating on the stock in a research note on Friday. Telsey Advisory Group lowered shares of Deckers Outdoor from an "outperform" rating to a "market perform" rating in a report on Friday. Finally, Jefferies Financial Group lifted their price target on Deckers Outdoor from $180.00 to $200.00 and gave the stock a "hold" rating in a research note on Tuesday, January 28th. Twelve equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $134.68.

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.