Redwood Wealth Management Group LLC Makes New $419,000 Investment in Deckers Outdoor Corporation (NYSE:DECK)

Redwood Wealth Management Group LLC bought a new position in Deckers Outdoor Corporation (NYSE:DECK - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,747 shares of the textile maker's stock, valued at approximately $419,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Mpwm Advisory Solutions LLC bought a new stake in shares of Deckers Outdoor in the fourth quarter valued at approximately $26,000. Headlands Technologies LLC bought a new position in shares of Deckers Outdoor in the fourth quarter valued at about $29,000. Vega Investment Solutions acquired a new position in Deckers Outdoor during the 4th quarter worth about $29,000. Whittier Trust Co. of Nevada Inc. lifted its holdings in Deckers Outdoor by 250.0% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 168 shares of the textile maker's stock worth $34,000 after buying an additional 120 shares in the last quarter. Finally, Fourth Dimension Wealth LLC bought a new stake in shares of Deckers Outdoor during the fourth quarter worth $41,000. 97.79% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Cindy L. Davis purchased 1,825 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were purchased at an average cost of $109.76 per share, for a total transaction of $200,312.00. Following the completion of the transaction, the director now directly owns 13,340 shares in the company, valued at approximately $1,464,198.40. This represents a 15.85% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Maha Saleh Ibrahim sold 300 shares of the company'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 sale, the director now directly owns 10,681 shares in the company, valued at $1,165,083.48. This trade 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 Price Performance

NYSE DECK traded down $1.71 during mid-day trading on Thursday, reaching $100.90. 2,691,498 shares of the stock were exchanged, compared to its average volume of 2,607,053. The stock has a market cap of $15.08 billion, a P/E ratio of 15.91, a P/E/G ratio of 6.23 and a beta of 1.02. The stock has a 50 day simple moving average of $111.72 and a 200-day simple moving average of $147.99. Deckers Outdoor Corporation has a one year low of $93.72 and a one year high of $223.98.

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 business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the business posted $0.82 EPS. Deckers Outdoor's quarterly revenue was up 6.5% on a year-over-year basis. Sell-side analysts anticipate that Deckers Outdoor Corporation will post 5.89 EPS for the current fiscal year.

Deckers Outdoor announced that its board has authorized a stock buyback plan on Thursday, May 22nd that authorizes the company to buyback $2.25 billion in outstanding shares. This buyback authorization authorizes the textile maker to buy up to 11.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's board believes its stock is undervalued.

Analyst Ratings Changes

Several equities analysts recently weighed in on DECK shares. Robert W. Baird cut their price objective on shares of Deckers Outdoor from $160.00 to $140.00 and set an "outperform" rating on the stock in a report on Friday, May 23rd. Wells Fargo & Company decreased their price target on shares of Deckers Outdoor from $120.00 to $100.00 and set an "equal weight" rating for the company in a report on Friday, May 23rd. Needham & Company LLC set a $150.00 price objective on Deckers Outdoor and gave the company a "buy" rating in a report on Wednesday, May 21st. Argus initiated coverage on shares of Deckers Outdoor in a report on Friday, June 13th. They set a "hold" rating on the stock. Finally, Bank of America lowered their target price on Deckers Outdoor from $154.00 to $128.00 and set a "neutral" rating for the company in a report on Friday, May 23rd. Fourteen investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $134.68.

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.