Park Avenue Securities LLC Has $3.01 Million Holdings in Deckers Outdoor Co. (NYSE:DECK)

Park Avenue Securities LLC increased its position in shares of Deckers Outdoor Co. (NYSE:DECK - Free Report) by 32.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 26,929 shares of the textile maker's stock after buying an additional 6,569 shares during the period. Park Avenue Securities LLC's holdings in Deckers Outdoor were worth $3,011,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. Mpwm Advisory Solutions LLC purchased a new position in shares of Deckers Outdoor during the fourth quarter worth about $26,000. Headlands Technologies LLC acquired a new stake in shares of Deckers Outdoor in the 4th quarter valued at about $29,000. Vega Investment Solutions purchased a new stake in Deckers Outdoor in the fourth quarter valued at approximately $29,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in shares of Deckers Outdoor by 250.0% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 168 shares of the textile maker's stock valued at $34,000 after acquiring an additional 120 shares during the period. Finally, Fourth Dimension Wealth LLC acquired a new stake in shares of Deckers Outdoor in the fourth quarter valued at approximately $41,000. Hedge funds and other institutional investors own 97.79% of the company's stock.

Deckers Outdoor Stock Down 1.8%

Shares of DECK traded down $1.97 during mid-day trading on Wednesday, reaching $108.03. 2,559,621 shares of the company's stock were exchanged, compared to its average volume of 2,598,411. Deckers Outdoor Co. has a 52-week low of $93.72 and a 52-week high of $223.98. The company has a market cap of $16.14 billion, a price-to-earnings ratio of 17.51, a PEG ratio of 1.68 and a beta of 1.02. The company has a 50-day simple moving average of $112.39 and a two-hundred day simple moving average of $151.83.

Deckers Outdoor (NYSE:DECK - Get Free Report) last released 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 net margin of 19.14% and a return on equity of 41.71%. The firm had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.01 billion. During the same period in the previous year, the company earned $0.82 EPS. Deckers Outdoor's revenue for the quarter was up 6.5% on a year-over-year basis. As a group, equities research analysts predict that Deckers Outdoor Co. will post 5.89 EPS for the current fiscal year.

Deckers Outdoor announced that its Board of Directors has authorized a share repurchase plan on Thursday, May 22nd that allows the company to buyback $2.25 billion in shares. This buyback authorization allows the textile maker to buy up to 11.7% of its shares through open market purchases. Shares buyback plans are often an indication that the company's leadership believes its shares are undervalued.

Insider Activity

In other news, insider Angela Ogbechie sold 6,244 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $103.89, for a total value of $648,689.16. Following the transaction, the insider now owns 19,980 shares of the company's stock, valued at approximately $2,075,722.20. This trade represents a 23.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Cindy L. Davis bought 1,825 shares of the stock in a transaction dated Friday, June 6th. The shares were acquired at an average price of $109.76 per share, with a total value of $200,312.00. Following the completion of the purchase, the director now directly owns 13,340 shares of the company's stock, valued at approximately $1,464,198.40. This represents a 15.85% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Needham & Company LLC set a $150.00 price target on shares of Deckers Outdoor and gave the stock a "buy" rating in a research note on Wednesday, May 21st. KeyCorp restated a "sector weight" rating and set a $150.00 price objective on shares of Deckers Outdoor in a research report on Friday, May 23rd. Cowen restated a "buy" rating on shares of Deckers Outdoor in a research note on Tuesday, May 20th. Robert W. Baird dropped their price target on shares of Deckers Outdoor from $160.00 to $140.00 and set an "outperform" rating on the stock in a research note on Friday, May 23rd. Finally, Citigroup cut their price target on shares of Deckers Outdoor from $215.00 to $150.00 and set a "buy" rating for the company in a report on Monday, April 28th. Thirteen equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus 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.