Wedge Capital Management L L P NC Purchases 90,081 Shares of Deckers Outdoor Co. (NYSE:DECK)

Wedge Capital Management L L P NC increased its stake in Deckers Outdoor Co. (NYSE:DECK - Free Report) by 39.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 320,112 shares of the textile maker's stock after acquiring an additional 90,081 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.21% of Deckers Outdoor worth $35,792,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of DECK. Norges Bank acquired a new position in shares of Deckers Outdoor during the 4th quarter worth approximately $392,583,000. JPMorgan Chase & Co. lifted its stake in Deckers Outdoor by 929.0% during the third quarter. JPMorgan Chase & Co. now owns 1,296,894 shares of the textile maker's stock worth $206,790,000 after purchasing an additional 1,170,855 shares in the last quarter. Raymond James Financial Inc. acquired a new position in Deckers Outdoor during the 4th quarter worth about $185,451,000. Jacobs Levy Equity Management Inc. boosted its stake in shares of Deckers Outdoor by 204.8% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 889,624 shares of the textile maker's stock valued at $180,674,000 after purchasing an additional 597,743 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in Deckers Outdoor by 101.3% in the 4th quarter. Envestnet Asset Management Inc. now owns 1,003,743 shares of the textile maker's stock valued at $203,850,000 after buying an additional 505,139 shares during the period. 97.79% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on DECK shares. Barclays reiterated an "overweight" rating and set a $128.00 target price (down previously from $129.00) on shares of Deckers Outdoor in a research note on Thursday, May 22nd. Bank of America decreased their price target on shares of Deckers Outdoor from $154.00 to $128.00 and set a "neutral" rating for the company in a research note on Friday, May 23rd. Cowen reiterated a "buy" rating on shares of Deckers Outdoor in a research note on Tuesday, May 20th. Needham & Company LLC set a $150.00 price target on shares of Deckers Outdoor and gave the stock a "buy" rating in a report on Wednesday, May 21st. Finally, KeyCorp reissued a "sector weight" rating and issued a $150.00 target price on shares of Deckers Outdoor in a report on Friday, May 23rd. Thirteen analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $134.68.

Insiders Place Their Bets

In other news, insider Angela Ogbechie sold 6,244 shares of the 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 completion of the transaction, 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 position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Cindy L. Davis purchased 1,825 shares of the company's stock in a transaction that occurred on Friday, June 6th. The stock was acquired at an average price of $109.76 per share, for a total transaction of $200,312.00. Following the purchase, the director now owns 13,340 shares in the company, valued at $1,464,198.40. This trade represents a 15.85% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.40% of the company's stock.

Deckers Outdoor Trading Up 1.6%

Shares of Deckers Outdoor stock traded up $1.76 during trading on Monday, reaching $110.98. The company's stock had a trading volume of 3,097,291 shares, compared to its average volume of 2,591,246. The stock has a 50-day moving average price of $112.17 and a two-hundred day moving average price of $152.42. The stock has a market capitalization of $16.58 billion, a P/E ratio of 17.99, a price-to-earnings-growth ratio of 1.68 and a beta of 1.02. Deckers Outdoor Co. has a one year low of $93.72 and a one year high of $223.98.

Deckers Outdoor (NYSE:DECK - Get Free Report) last released its earnings results on Thursday, May 22nd. The textile maker reported $1.00 earnings per share for the quarter, topping analysts' consensus estimates of $0.57 by $0.43. Deckers Outdoor had a return on equity of 41.71% and a net margin of 19.14%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the company posted $0.82 earnings per share. The firm's quarterly revenue was up 6.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Deckers Outdoor Co. will post 5.89 EPS for the current fiscal year.

Deckers Outdoor announced that its Board of Directors has authorized a share buyback program 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 programs are generally an indication that the company's management believes its stock is undervalued.

Deckers Outdoor Company 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.