Tokio Marine Asset Management Co. Ltd. Has $5.96 Million Position in Deckers Outdoor Corporation (NYSE:DECK)

Key Points

• Tokio Marine Asset Management Co. Ltd. reduced its stake in Deckers Outdoor Corporation by 15.8%, selling 9,977 shares and holding a total of 53,306 shares valued at approximately $5.96 million.
• Deckers reported a quarterly earnings per share (EPS) of $0.93, exceeding analyst expectations of $0.68, and experiencing a year-over-year revenue increase of 16.9%.
• The company has authorized a $2.25 billion share buyback program, indicating confidence in the stock's value and aiming to repurchase up to 11.7% of its shares.

Tokio Marine Asset Management Co. Ltd. reduced its stake in shares of Deckers Outdoor Corporation (NYSE:DECK - Free Report) by 15.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 53,306 shares of the textile maker's stock after selling 9,977 shares during the period. Tokio Marine Asset Management Co. Ltd.'s holdings in Deckers Outdoor were worth $5,960,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Revolve Wealth Partners LLC acquired a new position in Deckers Outdoor in the fourth quarter worth about $247,000. Rockefeller Capital Management L.P. acquired a new stake in Deckers Outdoor in the fourth quarter worth $3,567,000. Mariner LLC raised its holdings in shares of Deckers Outdoor by 9.3% during the fourth quarter. Mariner LLC now owns 59,991 shares of the textile maker's stock worth $12,184,000 after acquiring an additional 5,099 shares during the period. XTX Topco Ltd acquired a new stake in shares of Deckers Outdoor during the fourth quarter worth $858,000. Finally, Canada Post Corp Registered Pension Plan acquired a new stake in Deckers Outdoor in the 4th quarter valued at $536,000. 97.79% of the stock is currently owned by institutional investors.

Deckers Outdoor Price Performance

Shares of NYSE:DECK traded down $1.05 during midday trading on Friday, hitting $102.81. The company had a trading volume of 2,655,669 shares, compared to its average volume of 3,976,303. The stock has a market cap of $15.25 billion, a price-to-earnings ratio of 15.77, a price-to-earnings-growth ratio of 3.94 and a beta of 0.99. Deckers Outdoor Corporation has a twelve month low of $93.72 and a twelve month high of $223.98. The business's 50-day simple moving average is $104.48 and its 200-day simple moving average is $118.86.

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, topping analysts' consensus estimates of $0.68 by $0.25. The firm had revenue of $964.54 million during the quarter, compared to analysts' expectations of $901.45 million. Deckers Outdoor had a net margin of 19.42% and a return on equity of 40.49%. The firm's revenue was up 16.9% on a year-over-year basis. During the same period in the prior year, the company earned $4.52 EPS. As a group, sell-side analysts forecast that Deckers Outdoor Corporation will post 5.89 EPS for the current year.

Deckers Outdoor announced that its board has initiated a share repurchase plan on Thursday, May 22nd that permits the company to buyback $2.25 billion in shares. This buyback authorization permits the textile maker to reacquire up to 11.7% of its shares through open market purchases. Shares buyback plans are typically an indication that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several analysts recently issued reports on DECK shares. Wells Fargo & Company boosted their price target on Deckers Outdoor from $90.00 to $100.00 and gave the company an "equal weight" rating in a research note on Friday, July 25th. TD Securities boosted their target price 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. Cowen reiterated a "buy" rating on shares of Deckers Outdoor in a research report on Tuesday, May 20th. Robert W. Baird upped their price target on shares of Deckers Outdoor from $140.00 to $150.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Finally, Raymond James Financial upped their price objective on shares of Deckers Outdoor from $123.00 to $137.00 and gave the company a "strong-buy" rating in a research note on Friday, July 25th. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Deckers Outdoor has an average rating of "Hold" and an average price target of $137.50.

Insider Activity at Deckers Outdoor

In other Deckers Outdoor news, Director Cindy L. Davis purchased 1,825 shares of the firm's stock in a transaction on Friday, June 6th. The shares were purchased at an average cost of $109.76 per share, with a total value of $200,312.00. Following the completion of the purchase, the director owned 13,340 shares of the company's stock, valued at $1,464,198.40. The trade was a 15.85% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Angela Ogbechie sold 6,244 shares of the company's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $103.89, for a total transaction of $648,689.16. Following the sale, the insider directly owned 19,980 shares of the company's stock, valued at $2,075,722.20. The trade was a 23.81% 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 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.