Washington Capital Management Inc. Buys Shares of 2,800 Deckers Outdoor Co. (NYSE:DECK)

Washington Capital Management Inc. acquired a new position in Deckers Outdoor Co. (NYSE:DECK - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 2,800 shares of the textile maker's stock, valued at approximately $313,000.

A number of other hedge funds have also recently made changes to their positions in the business. Gateway Investment Advisers LLC lifted its holdings in shares of Deckers Outdoor by 33.9% in the 1st quarter. Gateway Investment Advisers LLC now owns 8,127 shares of the textile maker's stock worth $909,000 after acquiring an additional 2,056 shares during the last quarter. SeaCrest Wealth Management LLC lifted its holdings in shares of Deckers Outdoor by 22.4% in the 1st quarter. SeaCrest Wealth Management LLC now owns 3,416 shares of the textile maker's stock worth $382,000 after acquiring an additional 626 shares during the last quarter. Unique Wealth LLC lifted its holdings in shares of Deckers Outdoor by 57.1% in the 1st quarter. Unique Wealth LLC now owns 2,962 shares of the textile maker's stock worth $331,000 after acquiring an additional 1,077 shares during the last quarter. Portside Wealth Group LLC lifted its holdings in shares of Deckers Outdoor by 24.0% in the 1st quarter. Portside Wealth Group LLC now owns 3,480 shares of the textile maker's stock worth $389,000 after acquiring an additional 674 shares during the last quarter. Finally, Peak Financial Advisors LLC bought a new stake in shares of Deckers Outdoor in the 1st quarter worth approximately $2,476,000. 97.79% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on DECK shares. Stifel Nicolaus lowered their price target on shares of Deckers Outdoor from $185.00 to $127.00 and set a "hold" rating for the company in a report on Thursday, April 10th. Raymond James reiterated a "strong-buy" rating on shares of Deckers Outdoor in a report on Friday, May 23rd. Cowen reiterated a "buy" rating on shares of Deckers Outdoor in a report on Tuesday, May 20th. UBS Group set a $169.00 price target on shares of Deckers Outdoor and gave the company a "buy" rating in a report on Friday, May 23rd. Finally, Telsey Advisory Group lowered shares of Deckers Outdoor from an "outperform" rating to a "market perform" rating in a report on Friday, May 23rd. Thirteen equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $134.68.

Deckers Outdoor Trading Up 0.9%

Shares of Deckers Outdoor stock opened at $109.29 on Friday. The company's fifty day simple moving average is $112.31 and its two-hundred day simple moving average is $153.19. The company has a market cap of $16.33 billion, a P/E ratio of 17.72, a PEG ratio of 1.68 and a beta of 1.02. Deckers Outdoor Co. has a 12-month low of $93.72 and a 12-month high of $223.98.

Deckers Outdoor (NYSE:DECK - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The textile maker reported $1.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.43. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. Deckers Outdoor had a net margin of 19.14% and a return on equity of 41.71%. The company's quarterly revenue was up 6.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.82 EPS. Analysts predict that Deckers Outdoor Co. will post 5.89 EPS for the current fiscal year.

Deckers Outdoor announced that its board has authorized a share buyback program on Thursday, May 22nd that allows the company to repurchase $2.25 billion in outstanding shares. This repurchase authorization allows the textile maker to repurchase up to 11.7% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its shares are undervalued.

Insider Transactions at Deckers Outdoor

In other Deckers Outdoor news, Director Cindy L. Davis bought 1,825 shares of Deckers Outdoor stock in a transaction dated 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 transaction, the director now directly owns 13,340 shares of the company's stock, valued at $1,464,198.40. This represents a 15.85% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 now directly owns 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 disclosure for this sale can be found here. Insiders own 0.40% of the company's stock.

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.

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