Rhumbline Advisers Boosts Stock Holdings in Deckers Outdoor Co. (NYSE:DECK)

Rhumbline Advisers raised its holdings in shares of Deckers Outdoor Co. (NYSE:DECK - Free Report) by 6.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 363,589 shares of the textile maker's stock after acquiring an additional 22,613 shares during the quarter. Rhumbline Advisers owned approximately 0.24% of Deckers Outdoor worth $40,653,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in DECK. Norges Bank acquired a new stake in shares of Deckers Outdoor during the 4th quarter worth about $392,583,000. JPMorgan Chase & Co. boosted its stake in shares of Deckers Outdoor by 929.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,296,894 shares of the textile maker's stock worth $206,790,000 after purchasing an additional 1,170,855 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Deckers Outdoor during the 4th quarter worth about $185,451,000. Jacobs Levy Equity Management Inc. boosted its stake in shares of Deckers Outdoor by 204.8% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 889,624 shares of the textile maker's stock worth $180,674,000 after purchasing an additional 597,743 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Deckers Outdoor by 101.3% during the 4th quarter. Envestnet Asset Management Inc. now owns 1,003,743 shares of the textile maker's stock worth $203,850,000 after purchasing an additional 505,139 shares during the last quarter. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Deckers Outdoor

In related news, insider Angela Ogbechie sold 6,244 shares of the stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $103.89, for a total transaction of $648,689.16. Following the transaction, the insider now directly owns 19,980 shares of the company's stock, valued at $2,075,722.20. This represents a 23.81% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.40% of the stock is owned by company insiders.

Deckers Outdoor Stock Performance

Shares of Deckers Outdoor stock traded up $2.45 on Thursday, reaching $108.26. 3,975,560 shares of the stock were exchanged, compared to its average volume of 2,573,480. The firm's 50 day moving average is $112.47 and its 200-day moving average is $154.28. Deckers Outdoor Co. has a one year low of $93.72 and a one year high of $223.98. The firm has a market cap of $16.18 billion, a PE ratio of 17.55, a P/E/G ratio of 1.68 and a beta of 1.11.

Deckers Outdoor (NYSE:DECK - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The textile maker reported $1.00 earnings per share (EPS) for the quarter, topping 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 EPS. The firm's quarterly revenue was up 6.5% compared to the same quarter last year. On average, equities research analysts expect that Deckers Outdoor Co. will post 5.89 EPS for the current fiscal year.

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on DECK shares. Wells Fargo & Company decreased 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 report on Friday, May 23rd. Barclays reissued an "overweight" rating and issued a $128.00 target price (down from $129.00) on shares of Deckers Outdoor in a research report on Thursday, May 22nd. TD Securities lifted their price target on shares of Deckers Outdoor from $150.00 to $175.00 and gave the company a "buy" rating in a research report on Tuesday, May 20th. Evercore ISI reaffirmed an "in-line" rating and set a $110.00 price target (down from $235.00) on shares of Deckers Outdoor in a research report on Friday, May 23rd. Finally, Raymond James reaffirmed a "strong-buy" rating on shares of Deckers Outdoor in a research report on Friday, May 23rd. Thirteen 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. According to data from MarketBeat.com, Deckers Outdoor has an average rating of "Moderate Buy" 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.