Precision Wealth Strategies LLC Buys Shares of 3,322 Deckers Outdoor Co. (NYSE:DECK)

Precision Wealth Strategies LLC bought a new stake in Deckers Outdoor Co. (NYSE:DECK - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,322 shares of the textile maker's stock, valued at approximately $371,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC grew its stake in shares of Deckers Outdoor by 12.6% in the first quarter. Janney Montgomery Scott LLC now owns 123,450 shares of the textile maker's stock worth $13,803,000 after acquiring an additional 13,770 shares in the last quarter. Northstar Group Inc. grew its stake in shares of Deckers Outdoor by 122.2% in the first quarter. Northstar Group Inc. now owns 4,813 shares of the textile maker's stock worth $538,000 after acquiring an additional 2,647 shares in the last quarter. Asio Capital LLC grew its stake in shares of Deckers Outdoor by 3.1% in the first quarter. Asio Capital LLC now owns 57,032 shares of the textile maker's stock worth $6,377,000 after acquiring an additional 1,701 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in shares of Deckers Outdoor by 56.6% in the first quarter. Exchange Traded Concepts LLC now owns 7,181 shares of the textile maker's stock worth $803,000 after acquiring an additional 2,596 shares in the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH grew its stake in shares of Deckers Outdoor by 630.9% in the first quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 100,606 shares of the textile maker's stock worth $11,249,000 after acquiring an additional 86,841 shares in the last quarter. Hedge funds and other institutional investors own 97.79% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on DECK shares. Telsey Advisory Group downgraded shares of Deckers Outdoor from an "outperform" rating to a "market perform" rating in a research note on Friday, May 23rd. KGI Securities upgraded shares of Deckers Outdoor to a "hold" rating in a research note on Monday, May 26th. Raymond James reiterated a "strong-buy" rating on shares of Deckers Outdoor in a research note on Friday, May 23rd. Evercore ISI reiterated an "in-line" rating and set a $110.00 target price (down previously from $235.00) on shares of Deckers Outdoor in a research note on Friday, May 23rd. Finally, Piper Sandler lowered their target price on shares of Deckers Outdoor from $210.00 to $100.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Fourteen investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $134.68.

Insider Buying and Selling

In related news, Director Cindy L. Davis bought 1,825 shares of the company's stock in a transaction on Friday, June 6th. The stock was bought at an average cost of $109.76 per share, with a total value of $200,312.00. Following the completion of the acquisition, the director now owns 13,340 shares in the company, valued at approximately $1,464,198.40. This represents a 15.85% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Angela Ogbechie sold 6,244 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $103.89, for a total transaction of $648,689.16. Following the completion of the transaction, the insider now directly 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 ownership of the stock. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by corporate insiders.

Deckers Outdoor Stock Performance

Shares of NYSE:DECK opened at $101.38 on Monday. The company has a 50-day simple moving average of $112.42 and a 200-day simple moving average of $149.99. Deckers Outdoor Co. has a one year low of $93.72 and a one year high of $223.98. The stock has a market capitalization of $15.15 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 1.68 and a beta of 1.02.

Deckers Outdoor (NYSE:DECK - Get Free Report) last announced its 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 19.14% and a return on equity of 41.71%. The business had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.01 billion. During the same period in the prior year, the company earned $0.82 earnings per share. The business's revenue was up 6.5% compared to the same quarter last year. As a group, research analysts forecast that Deckers Outdoor Co. 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 allows the company to repurchase $2.25 billion in outstanding shares. This repurchase authorization allows the textile maker to purchase up to 11.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its shares are undervalued.

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.

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