Private Client Services LLC Invests $914,000 in Deckers Outdoor Co. (NYSE:DECK)

Private Client Services LLC purchased a new stake in shares of Deckers Outdoor Co. (NYSE:DECK - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 8,179 shares of the textile maker's stock, valued at approximately $914,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of DECK. JPMorgan Chase & Co. lifted its holdings in Deckers Outdoor by 929.0% in the third quarter. JPMorgan Chase & Co. now owns 1,296,894 shares of the textile maker's stock valued at $206,790,000 after acquiring an additional 1,170,855 shares during the period. PFG Investments LLC lifted its holdings in Deckers Outdoor by 15.9% in the fourth quarter. PFG Investments LLC now owns 2,920 shares of the textile maker's stock valued at $593,000 after acquiring an additional 400 shares during the period. Kingswood Wealth Advisors LLC purchased a new stake in Deckers Outdoor in the fourth quarter worth about $297,000. Revolve Wealth Partners LLC purchased a new stake in Deckers Outdoor in the fourth quarter worth about $247,000. Finally, Forsta AP Fonden increased its position in Deckers Outdoor by 3.0% in the fourth quarter. Forsta AP Fonden now owns 58,500 shares of the textile maker's stock worth $11,881,000 after buying an additional 1,700 shares in the last quarter. 97.79% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

DECK has been the subject of a number of analyst reports. Robert W. Baird reduced their price target on Deckers Outdoor from $160.00 to $140.00 and set an "outperform" rating for the company in a research report on Friday, May 23rd. TD Securities upped their price target on Deckers Outdoor from $150.00 to $175.00 and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Piper Sandler reduced their price target on Deckers Outdoor from $210.00 to $100.00 and set a "neutral" rating for the company in a research report on Friday, April 11th. Bank of America reduced their price target on Deckers Outdoor from $154.00 to $128.00 and set a "neutral" rating for the company in a research report on Friday, May 23rd. Finally, Telsey Advisory Group cut Deckers Outdoor from an "outperform" rating to a "market perform" rating in a research report on Friday, May 23rd. Thirteen equities research 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. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $134.68.

Deckers Outdoor Stock Performance

NYSE:DECK traded down $1.70 during trading hours on Friday, reaching $105.57. The stock had a trading volume of 4,410,632 shares, compared to its average volume of 2,554,723. The stock has a market capitalization of $16.02 billion, a PE ratio of 17.11, a PEG ratio of 1.68 and a beta of 1.11. Deckers Outdoor Co. has a 52 week low of $93.72 and a 52 week high of $223.98. The company has a 50 day moving average price of $113.07 and a two-hundred day moving average price of $155.60.

Deckers Outdoor (NYSE:DECK - Get Free Report) last posted its earnings results on Thursday, May 22nd. The textile maker reported $1.00 earnings per share 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 firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the firm posted $0.82 earnings per share. Deckers Outdoor's revenue for the quarter was up 6.5% compared to the same quarter last year. Equities research analysts predict that Deckers Outdoor Co. will post 5.89 EPS for the current year.

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

Insider Activity at Deckers Outdoor

In related news, Director Maha Saleh Ibrahim sold 300 shares of the firm's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $134.48, for a total value of $40,344.00. Following the completion of the transaction, the director now directly owns 10,388 shares of the company's stock, valued at approximately $1,396,978.24. This trade represents a 2.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.40% of the stock is currently owned by insiders.

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.