Principal Financial Group Inc. Has $65.72 Million Position in Deckers Outdoor Corporation (NYSE:DECK)

Principal Financial Group Inc. boosted its holdings in Deckers Outdoor Corporation (NYSE:DECK - Free Report) by 17.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 587,747 shares of the textile maker's stock after purchasing an additional 88,179 shares during the period. Principal Financial Group Inc. owned about 0.39% of Deckers Outdoor worth $65,716,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of DECK. Mutual Advisors LLC raised its stake in shares of Deckers Outdoor by 54.2% in the 1st quarter. Mutual Advisors LLC now owns 3,541 shares of the textile maker's stock valued at $387,000 after purchasing an additional 1,245 shares in the last quarter. Resonant Capital Advisors LLC raised its stake in shares of Deckers Outdoor by 15.9% in the 1st quarter. Resonant Capital Advisors LLC now owns 2,792 shares of the textile maker's stock valued at $312,000 after purchasing an additional 384 shares in the last quarter. Novem Group raised its stake in shares of Deckers Outdoor by 28.7% in the 1st quarter. Novem Group now owns 5,799 shares of the textile maker's stock valued at $648,000 after purchasing an additional 1,294 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in shares of Deckers Outdoor by 0.8% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 17,106 shares of the textile maker's stock valued at $1,913,000 after purchasing an additional 140 shares in the last quarter. Finally, Smith Group Asset Management LLC acquired a new stake in shares of Deckers Outdoor in the 1st quarter valued at about $371,000. Hedge funds and other institutional investors own 97.79% of the company's stock.

Analysts Set New Price Targets

DECK has been the topic of a number of recent analyst reports. Citigroup cut their target price on shares of Deckers Outdoor from $215.00 to $150.00 and set a "buy" rating on the stock in a research note on Monday, April 28th. Telsey Advisory Group lowered shares of Deckers Outdoor from an "outperform" rating to a "market perform" rating in a research note on Friday, May 23rd. The Goldman Sachs Group initiated coverage on shares of Deckers Outdoor in a research note on Wednesday, July 2nd. They issued a "sell" rating and a $90.00 target price on the stock. Wells Fargo & Company cut their target price on shares of Deckers Outdoor from $120.00 to $100.00 and set an "equal weight" rating on the stock in a research note on Friday, May 23rd. Finally, UBS Group set a $169.00 target price on shares of Deckers Outdoor and gave the stock a "buy" rating in a report on Friday, May 23rd. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Deckers Outdoor has a consensus rating of "Hold" and an average target price of $137.66.

Insider Buying and Selling

In other news, Director Cindy L. Davis acquired 1,825 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The stock was purchased at an average price of $109.76 per share, with a total value of $200,312.00. Following the purchase, the director owned 13,340 shares of the company's stock, valued at approximately $1,464,198.40. This trade represents a 15.85% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Maha Saleh Ibrahim sold 300 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $109.08, for a total transaction of $32,724.00. Following the completion of the transaction, the director directly owned 10,681 shares of the company's stock, valued at $1,165,083.48. This represents a 2.73% decrease in their position. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by insiders.

Deckers Outdoor Stock Down 0.3%

NYSE:DECK traded down $0.37 during trading hours on Tuesday, reaching $105.38. 2,389,195 shares of the company's stock were exchanged, compared to its average volume of 2,649,522. The company has a market capitalization of $15.75 billion, a P/E ratio of 16.61, a price-to-earnings-growth ratio of 6.43 and a beta of 0.99. Deckers Outdoor Corporation has a 12 month low of $93.72 and a 12 month high of $223.98. The business's 50-day simple moving average is $110.87 and its two-hundred day simple moving average is $138.49.

Deckers Outdoor (NYSE:DECK - Get Free Report) last issued its earnings results on Thursday, May 22nd. The textile maker reported $1.00 earnings per share for the quarter, topping analysts' consensus estimates of $0.57 by $0.43. The firm had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.01 billion. Deckers Outdoor had a net margin of 19.49% and a return on equity of 41.17%. The firm's revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period last year, the firm posted $0.82 earnings per share. As a group, sell-side analysts anticipate that Deckers Outdoor Corporation will post 5.89 earnings per share for the current fiscal year.

Deckers Outdoor declared that its board has approved a share repurchase program on Thursday, May 22nd that permits the company to repurchase $2.25 billion in shares. This repurchase authorization permits the textile maker to reacquire up to 11.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board believes its stock is undervalued.

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.