Smith Group Asset Management LLC Purchases New Position in Deckers Outdoor Corporation (NYSE:DECK)

Smith Group Asset Management LLC purchased a new stake in Deckers Outdoor Corporation (NYSE:DECK - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,320 shares of the textile maker's stock, valued at approximately $371,000.

A number of other large investors also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its stake in Deckers Outdoor by 3.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,001,033 shares of the textile maker's stock worth $203,300,000 after acquiring an additional 32,318 shares during the last quarter. Amundi raised its holdings in Deckers Outdoor by 11.0% in the fourth quarter. Amundi now owns 1,088,351 shares of the textile maker's stock worth $225,855,000 after purchasing an additional 108,054 shares during the period. HighTower Advisors LLC raised its holdings in Deckers Outdoor by 13.7% in the fourth quarter. HighTower Advisors LLC now owns 56,276 shares of the textile maker's stock worth $11,429,000 after purchasing an additional 6,788 shares during the period. Gitterman Wealth Management LLC bought a new position in shares of Deckers Outdoor during the fourth quarter worth $434,000. Finally, Park Avenue Securities LLC grew its holdings in shares of Deckers Outdoor by 32.3% in the 1st quarter. Park Avenue Securities LLC now owns 26,929 shares of the textile maker's stock valued at $3,011,000 after buying an additional 6,569 shares during the period. Institutional investors and hedge funds own 97.79% of the company's stock.

Deckers Outdoor Price Performance

DECK stock traded up $0.98 during mid-day trading on Wednesday, reaching $106.38. The company had a trading volume of 4,622,599 shares, compared to its average volume of 2,639,406. The company has a market capitalization of $15.90 billion, a price-to-earnings ratio of 16.77, a PEG ratio of 6.40 and a beta of 0.99. Deckers Outdoor Corporation has a 52 week low of $93.72 and a 52 week high of $223.98. The stock has a 50 day simple moving average of $111.22 and a two-hundred day simple moving average of $141.79.

Deckers Outdoor (NYSE:DECK - Get Free Report) last released its quarterly earnings data on Thursday, May 22nd. The textile maker reported $1.00 EPS for the quarter, beating the consensus estimate of $0.57 by $0.43. The company 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 firm's revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.82 EPS. On average, equities analysts predict that Deckers Outdoor Corporation will post 5.89 EPS for the current year.

Deckers Outdoor announced that its Board of Directors has initiated a stock repurchase plan on Thursday, May 22nd that allows the company to buyback $2.25 billion in shares. This buyback authorization allows the textile maker to buy up to 11.7% of its shares through open market purchases. Shares buyback plans are generally a sign that the company's board of directors believes its stock is undervalued.

Insider Activity

In other Deckers Outdoor news, insider Angela Ogbechie sold 6,244 shares of the company'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 value of $648,689.16. Following the sale, the insider owned 19,980 shares in the company, valued at $2,075,722.20. This represents a 23.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Maha Saleh Ibrahim sold 300 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $109.08, for a total value of $32,724.00. Following the completion of the sale, the director directly owned 10,681 shares of the company's stock, valued at approximately $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. Insiders own 0.40% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on DECK shares. Wells Fargo & Company dropped their price objective on 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. Stifel Nicolaus dropped their price target on Deckers Outdoor from $185.00 to $127.00 and set a "hold" rating on the stock in a research report on Thursday, April 10th. Cowen reiterated a "buy" rating on shares of Deckers Outdoor in a report on Tuesday, May 20th. Evercore ISI reissued an "in-line" rating and set a $110.00 target price (down from $235.00) on shares of Deckers Outdoor in a research note on Friday, May 23rd. Finally, Bank of America dropped their target price on shares of Deckers Outdoor from $154.00 to $128.00 and set a "neutral" rating on the stock in a report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Deckers Outdoor presently has a consensus rating of "Hold" and an average price target of $137.66.

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.