Tredje AP fonden Purchases 147,473 Shares of Deckers Outdoor Corporation (NYSE:DECK)

Key Points

• Tredje AP fonden increased its stake in Deckers Outdoor Corporation by 226.7%, now holding 0.14% of the company valued at approximately $23.76 million.
• Deckers Outdoor announced a $2.25 billion share buyback program, indicating the board's belief that the stock is undervalued.
• Analysts have mixed ratings on Deckers Outdoor, with one selling rating, fourteen holds, and nine buy ratings, resulting in an average price target of $137.50.

Tredje AP fonden boosted its stake in shares of Deckers Outdoor Corporation (NYSE:DECK - Free Report) by 226.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 212,533 shares of the textile maker's stock after purchasing an additional 147,473 shares during the quarter. Tredje AP fonden owned approximately 0.14% of Deckers Outdoor worth $23,763,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. Geode Capital Management LLC lifted its holdings in shares of Deckers Outdoor by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 4,104,954 shares of the textile maker's stock valued at $831,723,000 after buying an additional 45,035 shares during the period. Northern Trust Corp raised its holdings in shares of Deckers Outdoor by 13.9% in the fourth quarter. Northern Trust Corp now owns 1,581,702 shares of the textile maker's stock worth $321,228,000 after acquiring an additional 192,469 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Deckers Outdoor by 11.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,423,149 shares of the textile maker's stock valued at $289,027,000 after purchasing an additional 145,794 shares during the last quarter. Federated Hermes Inc. increased its stake in Deckers Outdoor by 1,998.7% in the first quarter. Federated Hermes Inc. now owns 1,163,977 shares of the textile maker's stock valued at $130,144,000 after purchasing an additional 1,108,516 shares during the last quarter. Finally, Deutsche Bank AG grew its position in Deckers Outdoor by 19.2% during the fourth quarter. Deutsche Bank AG now owns 1,114,739 shares of the textile maker's stock valued at $226,392,000 after acquiring an additional 179,485 shares during the period. Hedge funds and other institutional investors own 97.79% of the company's stock.

Analyst Ratings Changes

DECK has been the subject of several analyst reports. KGI Securities raised Deckers Outdoor to a "hold" rating in a research report on Monday, May 26th. Barclays increased their price target on Deckers Outdoor from $128.00 to $134.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. Telsey Advisory Group reaffirmed a "market perform" rating and set a $120.00 target price on shares of Deckers Outdoor in a report on Friday, July 25th. Evercore ISI raised their price objective on Deckers Outdoor from $110.00 to $115.00 and gave the stock an "in-line" rating in a research report on Friday, July 25th. Finally, Cowen reaffirmed a "buy" rating on shares of Deckers Outdoor in a research note on Tuesday, May 20th. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $137.50.

Deckers Outdoor Stock Performance

NYSE DECK traded down $4.58 during trading hours on Thursday, hitting $106.02. 3,704,926 shares of the company traded hands, compared to its average volume of 4,332,234. The business's 50-day moving average is $105.31 and its 200-day moving average is $127.75. Deckers Outdoor Corporation has a twelve month low of $93.72 and a twelve month high of $223.98. The stock has a market capitalization of $15.75 billion, a price-to-earnings ratio of 16.26, a P/E/G ratio of 7.01 and a beta of 0.99.

Deckers Outdoor (NYSE:DECK - Get Free Report) last posted its earnings results on Thursday, July 24th. The textile maker reported $0.93 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.68 by $0.25. The company 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%. Deckers Outdoor's quarterly revenue was up 16.9% compared to the same quarter last year. During the same quarter last year, the company posted $4.52 EPS. Analysts predict that Deckers Outdoor Corporation will post 5.89 EPS for the current year.

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

Insiders Place Their Bets

In other news, Director Maha Saleh Ibrahim sold 300 shares of Deckers Outdoor stock in a transaction on Friday, June 6th. The stock was sold at an average price of $109.08, for a total value of $32,724.00. Following the transaction, the director owned 10,681 shares in the company, valued at approximately $1,165,083.48. This trade represents a 2.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Angela Ogbechie sold 6,244 shares of the firm's stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $103.89, for a total value of $648,689.16. Following the sale, the insider directly owned 19,980 shares in the company, valued at approximately $2,075,722.20. This trade represents a 23.81% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company's stock.

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.