Deckers Outdoor Co. (NYSE:DECK) Stake Boosted by Cim LLC

Cim LLC grew its stake in shares of Deckers Outdoor Co. (NYSE:DECK) by 11.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,050 shares of the textile maker’s stock after acquiring an additional 2,230 shares during the period. Cim LLC’s holdings in Deckers Outdoor were worth $4,275,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of DECK. Norges Bank purchased a new position in shares of Deckers Outdoor during the 4th quarter valued at $392,583,000. JPMorgan Chase & Co. lifted its stake in shares of Deckers Outdoor by 929.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,296,894 shares of the textile maker’s stock valued at $206,790,000 after purchasing an additional 1,170,855 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of Deckers Outdoor in the 4th quarter valued at $185,451,000. Jacobs Levy Equity Management Inc. lifted its stake in shares of Deckers Outdoor by 204.8% in the 4th 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 last quarter. Finally, Envestnet Asset Management Inc. lifted its stake in shares of 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 purchasing an additional 505,139 shares during the last quarter. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Maha Saleh Ibrahim sold 300 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $134.48, for a total value of $40,344.00. Following the completion of the transaction, the director now owns 10,388 shares of the company’s stock, valued at $1,396,978.24. This represents a 2.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David Powers sold 25,000 shares of the stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $138.84, for a total transaction of $3,471,000.00. Following the completion of the transaction, the director now directly owns 241,777 shares of the company’s stock, valued at $33,568,318.68. This trade represents a 9.37% decrease in their position. The disclosure for this sale can be found here. 0.40% of the stock is owned by company insiders.

Deckers Outdoor Stock Performance

Shares of DECK opened at $100.89 on Tuesday. The company has a 50-day simple moving average of $114.18 and a 200-day simple moving average of $157.44. The firm has a market capitalization of $15.31 billion, a P/E ratio of 16.36, a P/E/G ratio of 1.68 and a beta of 1.11. Deckers Outdoor Co. has a 52 week low of $93.72 and a 52 week high of $223.98.

Deckers Outdoor (NYSE:DECK) last announced its quarterly earnings data on Thursday, May 22nd. The textile maker reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.43. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. Deckers Outdoor had a net margin of 19.14% and a return on equity of 41.71%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.82 earnings per share. As a group, equities analysts forecast that Deckers Outdoor Co. will post 5.89 earnings per share for the current year.

Deckers Outdoor declared that its board has initiated a stock buyback program on Thursday, May 22nd that allows the company to repurchase $2.25 billion in shares. This repurchase authorization allows the textile maker to buy up to 11.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

DECK has been the subject of several analyst reports. Barclays reaffirmed an “overweight” rating and issued a $128.00 price objective (down previously from $129.00) on shares of Deckers Outdoor in a research note on Thursday. Bank of America reduced their price objective 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. Piper Sandler reduced their price objective on shares of Deckers Outdoor from $210.00 to $100.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Wells Fargo & Company reduced their price objective on shares of Deckers Outdoor from $120.00 to $100.00 and set an “equal weight” rating for the company in a research note on Friday. Finally, Evercore ISI reissued an “in-line” rating and set a $110.00 target price (down previously from $235.00) on shares of Deckers Outdoor in a research report on Friday. Twelve analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $134.68.

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.