Prosperity Wealth Management Inc. Raises Holdings in Deckers Outdoor Corporation (NYSE:DECK)

Prosperity Wealth Management Inc. lifted its holdings in shares of Deckers Outdoor Corporation (NYSE:DECK - Free Report) by 208.2% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 8,558 shares of the textile maker's stock after acquiring an additional 5,781 shares during the period. Prosperity Wealth Management Inc.'s holdings in Deckers Outdoor were worth $957,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of DECK. Revolve Wealth Partners LLC acquired a new stake in shares of Deckers Outdoor during the fourth quarter worth about $247,000. Principal Securities Inc. lifted its holdings in shares of Deckers Outdoor by 82.4% during the fourth quarter. Principal Securities Inc. now owns 8,276 shares of the textile maker's stock worth $1,681,000 after purchasing an additional 3,739 shares during the period. Allworth Financial LP lifted its holdings in shares of Deckers Outdoor by 8.8% during the fourth quarter. Allworth Financial LP now owns 1,435 shares of the textile maker's stock worth $308,000 after purchasing an additional 116 shares during the period. Csenge Advisory Group lifted its holdings in shares of Deckers Outdoor by 51.4% during the fourth quarter. Csenge Advisory Group now owns 3,468 shares of the textile maker's stock worth $704,000 after purchasing an additional 1,178 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in shares of Deckers Outdoor by 25.7% during the fourth quarter. Principal Financial Group Inc. now owns 499,568 shares of the textile maker's stock worth $101,457,000 after purchasing an additional 102,134 shares during the period. Hedge funds and other institutional investors own 97.79% of the company's stock.

Deckers Outdoor Price Performance

Shares of DECK stock opened at $102.56 on Wednesday. The company has a market cap of $15.33 billion, a price-to-earnings ratio of 16.17, a PEG ratio of 6.29 and a beta of 1.02. The stock has a 50 day simple moving average of $112.20 and a 200-day simple moving average of $149.02. Deckers Outdoor Corporation has a 1-year low of $93.72 and a 1-year high of $223.98.

Deckers Outdoor (NYSE:DECK - Get Free Report) last announced its earnings results on Thursday, May 22nd. The textile maker reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.43. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Deckers Outdoor had a return on equity of 41.17% and a net margin of 19.49%. The business's quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.82 EPS. Analysts anticipate 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 buyback program on Thursday, May 22nd that permits the company to buyback $2.25 billion in shares. This buyback authorization permits the textile maker to purchase up to 11.7% of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its shares are undervalued.

Wall Street Analyst Weigh In

DECK has been the subject of a number of research reports. Telsey Advisory Group downgraded Deckers Outdoor from an "outperform" rating to a "market perform" rating in a report on Friday, May 23rd. KGI Securities raised Deckers Outdoor to a "hold" rating in a report on Monday, May 26th. Argus assumed coverage on Deckers Outdoor in a report on Friday, June 13th. They issued a "hold" rating for the company. Barclays reissued an "overweight" rating and issued a $128.00 price target (down from $129.00) on shares of Deckers Outdoor in a report on Thursday, May 22nd. Finally, Needham & Company LLC set a $150.00 price target on Deckers Outdoor and gave the company a "buy" rating in a report on Wednesday, May 21st. Fourteen research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $134.68.

Insider Transactions at Deckers Outdoor

In related news, insider Angela Ogbechie sold 6,244 shares of the business's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $103.89, for a total transaction of $648,689.16. Following the completion of the sale, the insider now directly owns 19,980 shares in the company, valued at approximately $2,075,722.20. The trade was a 23.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Maha Saleh Ibrahim sold 300 shares of the business'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 value of $32,724.00. Following the sale, the director now owns 10,681 shares of the company's stock, valued at $1,165,083.48. The trade was a 2.73% 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.

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.

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