Panview Capital Ltd Sells 25,000 Shares of Deckers Outdoor Corporation (NYSE:DECK)

Key Points

• Panview Capital Ltd reduced its stake in Deckers Outdoor Corporation (NYSE:DECK) by 8.8%, selling 25,000 shares and now holding 258,900 shares valued at approximately $28.9 million.
• Various institutional investors, including Norges Bank and Pacer Advisors Inc., have significantly increased their positions in Deckers Outdoor, with Pacer Advisors raising its stake by 4,770% this quarter.
• Deckers Outdoor recently announced a $2.25 billion stock repurchase plan, indicating that the company's leadership believes its stock is undervalued.

Panview Capital Ltd trimmed its holdings in shares of Deckers Outdoor Corporation (NYSE:DECK - Free Report) by 8.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 258,900 shares of the textile maker's stock after selling 25,000 shares during the period. Deckers Outdoor makes up about 11.0% of Panview Capital Ltd's holdings, making the stock its 5th biggest position. Panview Capital Ltd owned approximately 0.17% of Deckers Outdoor worth $28,948,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Geode Capital Management LLC grew its stake in Deckers Outdoor by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 4,104,954 shares of the textile maker's stock valued at $831,723,000 after purchasing an additional 45,035 shares in the last quarter. Norges Bank purchased a new position in Deckers Outdoor in the fourth quarter valued at about $392,583,000. Northern Trust Corp grew its stake in Deckers Outdoor by 13.9% in the fourth quarter. Northern Trust Corp now owns 1,581,702 shares of the textile maker's stock valued at $321,228,000 after purchasing an additional 192,469 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Deckers Outdoor by 11.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,423,149 shares of the textile maker's stock valued at $289,027,000 after purchasing an additional 145,794 shares in the last quarter. Finally, Deutsche Bank AG grew its stake in Deckers Outdoor by 19.2% in the fourth quarter. Deutsche Bank AG now owns 1,114,739 shares of the textile maker's stock valued at $226,392,000 after purchasing an additional 179,485 shares in the last quarter. 97.79% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on DECK shares. Truist Financial boosted their target price on Deckers Outdoor from $130.00 to $145.00 and gave the company a "buy" rating in a research note on Friday. TD Securities upped their price target on Deckers Outdoor from $150.00 to $175.00 and gave the stock a "buy" rating in a research note on Tuesday, May 20th. KGI Securities upgraded Deckers Outdoor to a "hold" rating in a research note on Monday, May 26th. Bank of America decreased their price target on Deckers Outdoor from $128.00 to $114.00 and set a "neutral" rating for the company in a research note on Thursday, July 17th. Finally, Barclays increased 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. One equities research analyst has rated the stock with a sell rating, fourteen have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $137.50.

Deckers Outdoor Stock Performance

DECK traded up $0.85 during mid-day trading on Tuesday, reaching $113.24. The stock had a trading volume of 1,501,902 shares, compared to its average volume of 3,476,617. Deckers Outdoor Corporation has a 52 week low of $93.72 and a 52 week high of $223.98. The stock has a market capitalization of $16.92 billion, a P/E ratio of 17.36, a P/E/G ratio of 7.53 and a beta of 0.99. The firm's fifty day simple moving average is $105.92 and its two-hundred day simple moving average is $127.98.

Deckers Outdoor (NYSE:DECK - Get Free Report) last posted its quarterly earnings results on Thursday, July 24th. The textile maker reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.25. Deckers Outdoor had a return on equity of 40.49% and a net margin of 19.42%. The business had revenue of $964.54 million for the quarter, compared to analyst estimates of $901.45 million. During the same period last year, the company earned $4.52 EPS. The firm's revenue was up 16.9% on a year-over-year basis. As a group, analysts expect that Deckers Outdoor Corporation will post 5.89 EPS for the current fiscal year.

Deckers Outdoor announced that its board has approved a stock repurchase 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 management believes its stock is undervalued.

Insider Transactions at Deckers Outdoor

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 transaction of $648,689.16. Following the transaction, the insider directly owned 19,980 shares in the company, valued at approximately $2,075,722.20. The trade was a 23.81% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Cindy L. Davis purchased 1,825 shares of the company's stock in a transaction dated Friday, June 6th. The shares were acquired at an average cost of $109.76 per share, for a total transaction of $200,312.00. Following the transaction, the director owned 13,340 shares of the company's stock, valued at $1,464,198.40. This trade represents 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 owned by corporate insiders.

About Deckers Outdoor

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.