Trillium Asset Management LLC Acquires 9,474 Shares of Deckers Outdoor Corporation (NYSE:DECK)

Key Points

• Trillium Asset Management LLC increased its stake in Deckers Outdoor Corporation by 6.9% in Q1, owning 147,161 shares valued at approximately $16.5 million.
• Deckers reported earnings of $0.93 per share for the last quarter, surpassing expectations, with a net margin of 19.42% and revenue growth of 16.9% year-over-year.
• The company has authorized a $2.25 billion share repurchase program, indicating confidence in its stock value following recent struggles.

Trillium Asset Management LLC lifted its position in Deckers Outdoor Corporation (NYSE:DECK - Free Report) by 6.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 147,161 shares of the textile maker's stock after acquiring an additional 9,474 shares during the quarter. Trillium Asset Management LLC owned 0.10% of Deckers Outdoor worth $16,454,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Mpwm Advisory Solutions LLC acquired a new position in Deckers Outdoor during the 4th quarter valued at approximately $26,000. Vega Investment Solutions acquired a new position in Deckers Outdoor during the 4th quarter valued at approximately $29,000. Mountain Hill Investment Partners Corp. acquired a new position in Deckers Outdoor during the 1st quarter valued at approximately $34,000. Fourth Dimension Wealth LLC acquired a new position in Deckers Outdoor during the 4th quarter valued at approximately $41,000. Finally, Itau Unibanco Holding S.A. boosted its position in Deckers Outdoor by 352.1% during the 4th quarter. Itau Unibanco Holding S.A. now owns 217 shares of the textile maker's stock valued at $44,000 after purchasing an additional 169 shares during the period. Institutional investors and hedge funds own 97.79% of the company's stock.

Insider Transactions at Deckers Outdoor

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

Analyst Upgrades and Downgrades

Several analysts have weighed in on DECK shares. Needham & Company LLC reaffirmed a "buy" rating and set a $128.00 target price (up previously from $120.00) on shares of Deckers Outdoor in a research note on Wednesday, July 23rd. Cowen restated a "buy" rating on shares of Deckers Outdoor in a report on Tuesday, May 20th. Robert W. Baird upped their price objective on Deckers Outdoor from $140.00 to $150.00 and gave the company an "outperform" rating in a report on Friday, July 25th. UBS Group upped their price objective on Deckers Outdoor from $144.00 to $158.00 and gave the company a "buy" rating in a report on Friday, July 25th. Finally, The Goldman Sachs Group reduced their target price on Deckers Outdoor from $90.00 to $87.00 and set a "sell" rating for the company in a report on Tuesday, July 22nd. One equities research analyst has rated the stock with a sell rating, fourteen have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Deckers Outdoor presently has an average rating of "Hold" and a consensus price target of $137.50.

Deckers Outdoor Stock Performance

Shares of DECK traded down $1.05 during trading hours on Friday, hitting $102.81. 2,655,669 shares of the company were exchanged, compared to its average volume of 3,976,303. The company has a market cap of $15.25 billion, a PE ratio of 15.77, a PEG ratio of 3.94 and a beta of 0.99. The firm's 50 day moving average is $104.48 and its 200-day moving average is $118.86. Deckers Outdoor Corporation has a 52 week low of $93.72 and a 52 week high of $223.98.

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

Deckers Outdoor announced that its Board of Directors has authorized 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 reacquire up to 11.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's leadership believes its shares are undervalued.

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.