Stevens Capital Management LP Acquires 3,932 Shares of Deckers Outdoor Corporation (NYSE:DECK)

Key Points

• Stevens Capital Management LP increased its position in Deckers Outdoor Corporation by 246.8% during the 1st quarter, owning 5,525 shares worth approximately $618,000.
• Deckers Outdoor recently approved a $2.25 billion stock repurchase program, which signals that the company's leadership believes its shares are undervalued.
• Deckers Outdoor reported $0.93 EPS for the last quarter, surpassing analysts' expectations of $0.68, with revenues of $964.54 million, up 16.9% year-over-year.

Stevens Capital Management LP increased its stake in shares of Deckers Outdoor Corporation (NYSE:DECK - Free Report) by 246.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,525 shares of the textile maker's stock after acquiring an additional 3,932 shares during the quarter. Stevens Capital Management LP's holdings in Deckers Outdoor were worth $618,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mpwm Advisory Solutions LLC bought a new stake in Deckers Outdoor in the 4th quarter valued at $26,000. Headlands Technologies LLC bought a new stake in Deckers Outdoor in the 4th quarter valued at $29,000. Vega Investment Solutions bought a new stake in Deckers Outdoor in the 4th quarter valued at $29,000. Mountain Hill Investment Partners Corp. bought a new stake in Deckers Outdoor in the 1st quarter valued at $34,000. Finally, Fourth Dimension Wealth LLC bought a new stake in Deckers Outdoor in the 4th quarter valued at $41,000. Institutional investors own 97.79% of the company's stock.

Analyst Ratings Changes

Several brokerages have issued reports on DECK. Robert W. Baird boosted their price target on shares of Deckers Outdoor from $140.00 to $150.00 and gave the company an "outperform" rating in a report on Friday. Evercore ISI boosted their target price on Deckers Outdoor from $110.00 to $115.00 and gave the stock an "in-line" rating in a report on Friday. Wells Fargo & Company boosted their target price on Deckers Outdoor from $90.00 to $100.00 and gave the stock an "equal weight" rating in a report on Friday. Citigroup decreased their price objective on shares of Deckers Outdoor from $215.00 to $150.00 and set a "buy" rating on the stock in a report on Monday, April 28th. Finally, Piper Sandler decreased their price objective on shares of Deckers Outdoor from $210.00 to $100.00 and set a "neutral" rating on the stock in a report on Friday, April 11th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $137.50.

Insiders Place Their Bets

In related news, Director Cindy L. Davis bought 1,825 shares of the company's stock in a transaction on 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 acquisition, the director owned 13,340 shares of the company's stock, valued at approximately $1,464,198.40. This represents a 15.85% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Angela Ogbechie sold 6,244 shares of the firm'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 sale, the insider owned 19,980 shares in the company, valued at $2,075,722.20. This trade represents a 23.81% 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.

Deckers Outdoor Trading Up 0.8%

Shares of NYSE:DECK traded up $0.89 during mid-day trading on Tuesday, reaching $113.28. The stock had a trading volume of 1,706,075 shares, compared to its average volume of 3,477,552. The firm has a market cap of $16.93 billion, a PE ratio of 17.38, a price-to-earnings-growth ratio of 7.53 and a beta of 0.99. The firm has a 50 day simple moving average of $105.92 and a two-hundred day simple moving average of $127.98. Deckers Outdoor Corporation has a twelve month low of $93.72 and a twelve month high of $223.98.

Deckers Outdoor (NYSE:DECK - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The textile maker reported $0.93 earnings per share for the quarter, beating analysts' consensus estimates of $0.68 by $0.25. The business had revenue of $964.54 million for the quarter, compared to the consensus estimate of $901.45 million. Deckers Outdoor had a net margin of 19.42% and a return on equity of 40.49%. Deckers Outdoor's revenue for the quarter was up 16.9% on a year-over-year basis. During the same period last year, the company posted $4.52 EPS. On average, equities analysts anticipate that Deckers Outdoor Corporation will post 5.89 EPS for the current fiscal year.

Deckers Outdoor declared that its Board of Directors has authorized a stock repurchase program on Thursday, May 22nd that allows the company to buyback $2.25 billion in shares. This buyback authorization allows the textile maker to purchase up to 11.7% of its shares through open market purchases. Shares buyback programs are often a sign that the company's leadership believes its shares are undervalued.

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.