Praxis Investment Management Inc. Boosts Stake in Deckers Outdoor Corporation (NYSE:DECK)

Praxis Investment Management Inc. raised its holdings in Deckers Outdoor Corporation (NYSE:DECK - Free Report) by 133.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 7,790 shares of the textile maker's stock after buying an additional 4,460 shares during the period. Praxis Investment Management Inc.'s holdings in Deckers Outdoor were worth $871,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. raised its position in Deckers Outdoor by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 17,639,783 shares of the textile maker's stock worth $3,582,464,000 after acquiring an additional 229,807 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Deckers Outdoor by 1.1% in the 4th 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 during the period. Norges Bank acquired a new stake in Deckers Outdoor in the 4th quarter valued at about $392,583,000. Northern Trust Corp grew its holdings in Deckers Outdoor by 13.9% during the fourth quarter. Northern Trust Corp now owns 1,581,702 shares of the textile maker's stock worth $321,228,000 after purchasing an additional 192,469 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Deckers Outdoor by 11.4% during 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 worth $289,027,000 after buying an additional 145,794 shares during the last quarter. 97.79% of the stock is currently owned by institutional investors and hedge funds.

Deckers Outdoor Price Performance

Shares of Deckers Outdoor stock traded down $1.29 during trading on Monday, reaching $100.40. 2,792,203 shares of the stock traded hands, compared to its average volume of 2,608,231. The company has a market capitalization of $15.00 billion, a price-to-earnings ratio of 15.83, a P/E/G ratio of 6.17 and a beta of 1.02. Deckers Outdoor Corporation has a 52-week low of $93.72 and a 52-week high of $223.98. The business has a fifty day simple moving average of $111.44 and a two-hundred day simple moving average of $145.83.

Deckers Outdoor (NYSE:DECK - Get Free Report) last announced its quarterly earnings results on Thursday, May 22nd. The textile maker reported $1.00 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.43. Deckers Outdoor had a net margin of 19.49% and a return on equity of 41.17%. The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter last year, the firm earned $0.82 EPS. The firm's revenue for the quarter was up 6.5% compared to the same quarter last year. On average, research analysts predict that Deckers Outdoor Corporation will post 5.89 earnings per share for the current fiscal year.

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

Analyst Ratings Changes

Several brokerages have recently commented on DECK. Needham & Company LLC set a $150.00 target price on Deckers Outdoor and gave the stock a "buy" rating in a research note on Wednesday, May 21st. Barclays reaffirmed an "overweight" rating and set a $128.00 price objective (down from $129.00) on shares of Deckers Outdoor in a research report on Thursday, May 22nd. Citigroup dropped their price objective on shares of Deckers Outdoor from $215.00 to $150.00 and set a "buy" rating on the stock in a research report on Monday, April 28th. Evercore ISI reaffirmed an "in-line" rating and set a $110.00 target price (down previously from $235.00) on shares of Deckers Outdoor in a report on Friday, May 23rd. Finally, Argus assumed coverage on shares of Deckers Outdoor in a report on Friday, June 13th. They issued a "hold" rating on the stock. Fourteen research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $134.68.

Insider Transactions at Deckers Outdoor

In other Deckers Outdoor news, Director Cindy L. Davis acquired 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, with a total value of $200,312.00. Following the acquisition, the director now directly owns 13,340 shares of the company's stock, valued at approximately $1,464,198.40. The trade was a 15.85% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Angela Ogbechie sold 6,244 shares of the stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $103.89, for a total value of $648,689.16. Following the sale, the insider now directly owns 19,980 shares in the company, 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. Corporate insiders own 0.40% of the company's stock.

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.