Oak Thistle LLC Makes New $2.04 Million Investment in Deckers Outdoor Corporation (NYSE:DECK)

Oak Thistle LLC bought a new position in Deckers Outdoor Corporation (NYSE:DECK - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 18,223 shares of the textile maker's stock, valued at approximately $2,038,000.

Other large investors have also recently modified their holdings of the company. KLP Kapitalforvaltning AS grew its stake in Deckers Outdoor by 34.6% during the first quarter. KLP Kapitalforvaltning AS now owns 135,100 shares of the textile maker's stock valued at $15,106,000 after acquiring an additional 34,700 shares in the last quarter. Pier 88 Investment Partners LLC grew its stake in Deckers Outdoor by 8.6% during the first quarter. Pier 88 Investment Partners LLC now owns 8,860 shares of the textile maker's stock valued at $991,000 after acquiring an additional 700 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich grew its stake in Deckers Outdoor by 0.4% during the first quarter. Bank Julius Baer & Co. Ltd Zurich now owns 196,910 shares of the textile maker's stock valued at $23,815,000 after acquiring an additional 859 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Deckers Outdoor during the first quarter valued at approximately $13,629,000. Finally, PFG Advisors grew its stake in Deckers Outdoor by 10.3% during the first quarter. PFG Advisors now owns 1,923 shares of the textile maker's stock valued at $215,000 after acquiring an additional 180 shares in the last quarter. Hedge funds and other institutional investors own 97.79% of the company's stock.

Deckers Outdoor Trading Up 11.1%

Shares of DECK traded up $11.69 during mid-day trading on Friday, reaching $116.63. The company's stock had a trading volume of 15,340,205 shares, compared to its average volume of 3,644,249. The stock has a market cap of $17.43 billion, a PE ratio of 17.89, a P/E/G ratio of 6.89 and a beta of 0.99. Deckers Outdoor Corporation has a 52 week low of $93.72 and a 52 week high of $223.98. The company's fifty day moving average price is $106.21 and its two-hundred day moving average price is $129.74.

Deckers Outdoor (NYSE:DECK - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The textile maker reported $0.93 EPS for the quarter, beating analysts' consensus estimates of $0.68 by $0.25. Deckers Outdoor had a net margin of 19.42% and a return on equity of 40.54%. The company had revenue of $964.54 million during the quarter, compared to analyst estimates of $901.45 million. During the same period in the prior year, the business posted $4.52 EPS. The firm's revenue was up 16.9% compared to the same quarter last year. Research analysts anticipate that Deckers Outdoor Corporation will post 5.89 EPS for the current year.

Deckers Outdoor declared that its Board of Directors has approved a stock buyback program on Thursday, May 22nd that authorizes the company to repurchase $2.25 billion in shares. This repurchase authorization authorizes the textile maker to purchase up to 11.7% of its stock through open market purchases. Stock repurchase programs are often a sign that the company's management believes its shares are undervalued.

Insider Activity at Deckers Outdoor

In related news, Director Maha Saleh Ibrahim sold 300 shares of the company'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 completion of the sale, the director directly owned 10,681 shares in the company, valued at $1,165,083.48. This represents a 2.73% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Angela Ogbechie sold 6,244 shares of the company's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $103.89, for a total transaction 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 represents a 23.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

DECK has been the subject of several recent analyst reports. KGI Securities raised shares of Deckers Outdoor to a "hold" rating in a research note on Monday, May 26th. Raymond James Financial boosted their price objective on shares of Deckers Outdoor from $123.00 to $137.00 and gave the company a "strong-buy" rating in a research note on Friday. TD Securities boosted their price objective on shares of Deckers Outdoor from $150.00 to $175.00 and gave the company a "buy" rating in a research note on Tuesday, May 20th. Truist Financial boosted their price objective on shares of Deckers Outdoor from $130.00 to $145.00 and gave the company a "buy" rating in a research note on Friday. Finally, The Goldman Sachs Group reduced their price objective on shares of Deckers Outdoor from $90.00 to $87.00 and set a "sell" rating for the company in a research note on Tuesday. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Deckers Outdoor has an average rating of "Hold" and an average target price of $131.77.

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.