Parallel Advisors LLC Has $1.14 Million Holdings in Deckers Outdoor Co. (NYSE:DECK)

Parallel Advisors LLC grew its position in Deckers Outdoor Co. (NYSE:DECK - Free Report) by 88.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,220 shares of the textile maker's stock after purchasing an additional 4,798 shares during the period. Parallel Advisors LLC's holdings in Deckers Outdoor were worth $1,143,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of DECK. Mpwm Advisory Solutions LLC acquired a new position in Deckers Outdoor during the 4th quarter worth approximately $26,000. Headlands Technologies LLC acquired a new position in Deckers Outdoor during the 4th quarter worth approximately $29,000. Vega Investment Solutions acquired a new position in Deckers Outdoor during the 4th quarter worth approximately $29,000. Whittier Trust Co. of Nevada Inc. lifted its position in Deckers Outdoor by 250.0% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 168 shares of the textile maker's stock worth $34,000 after acquiring an additional 120 shares in the last quarter. Finally, Fourth Dimension Wealth LLC acquired a new position in Deckers Outdoor during the 4th quarter worth approximately $41,000. 97.79% of the stock is owned by institutional investors and hedge funds.

Deckers Outdoor Price Performance

Shares of Deckers Outdoor stock traded up $2.45 during trading on Thursday, hitting $108.26. The stock had a trading volume of 3,975,560 shares, compared to its average volume of 2,578,294. The firm has a market cap of $16.18 billion, a P/E ratio of 17.55, a PEG ratio of 1.68 and a beta of 1.11. The business has a fifty day moving average of $112.40 and a two-hundred day moving average of $153.81. Deckers Outdoor Co. has a fifty-two week low of $93.72 and a fifty-two week high of $223.98.

Deckers Outdoor (NYSE:DECK - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The textile maker reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.43. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. Deckers Outdoor had a return on equity of 41.71% and a net margin of 19.14%. The company's revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.82 earnings per share. As a group, research analysts forecast that Deckers Outdoor Co. will post 5.89 earnings per share for the current year.

Deckers Outdoor declared that its Board of Directors has authorized a stock repurchase program on Thursday, May 22nd that permits the company to repurchase $2.25 billion in outstanding shares. This repurchase authorization permits the textile maker to repurchase up to 11.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company's board of directors believes its stock is undervalued.

Insider Activity

In other news, insider Angela Ogbechie sold 6,244 shares of the company's stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $103.89, for a total transaction of $648,689.16. Following the completion of the sale, the insider now directly owns 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 0.40% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Evercore ISI reissued an "in-line" rating and set a $110.00 price target (down from $235.00) on shares of Deckers Outdoor in a research report on Friday, May 23rd. Citigroup dropped their price objective on Deckers Outdoor from $215.00 to $150.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Bank of America dropped their price objective on Deckers Outdoor from $154.00 to $128.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. Piper Sandler dropped their price objective on Deckers Outdoor from $210.00 to $100.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. Finally, UBS Group set a $169.00 price objective on Deckers Outdoor and gave the stock a "buy" rating in a report on Friday, May 23rd. Thirteen investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $134.68.

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.