Park Avenue Securities LLC Grows Stock Position in Deckers Outdoor Co. (NYSE:DECK)

Park Avenue Securities LLC boosted its position in shares of Deckers Outdoor Co. (NYSE:DECK) by 32.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 26,929 shares of the textile maker’s stock after buying an additional 6,569 shares during the quarter. Park Avenue Securities LLC’s holdings in Deckers Outdoor were worth $3,011,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of the business. JPMorgan Chase & Co. increased its position in shares of Deckers Outdoor by 929.0% during the third quarter. JPMorgan Chase & Co. now owns 1,296,894 shares of the textile maker’s stock valued at $206,790,000 after buying an additional 1,170,855 shares during the period. Revolve Wealth Partners LLC purchased a new stake in shares of Deckers Outdoor in the fourth quarter worth $247,000. Stratos Wealth Partners LTD. purchased a new position in Deckers Outdoor in the fourth quarter worth about $276,000. Bleakley Financial Group LLC raised its holdings in Deckers Outdoor by 3.9% in the 4th quarter. Bleakley Financial Group LLC now owns 1,444 shares of the textile maker’s stock worth $293,000 after acquiring an additional 54 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in shares of Deckers Outdoor by 2.6% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 16,966 shares of the textile maker’s stock valued at $3,446,000 after purchasing an additional 424 shares in the last quarter. 97.79% of the stock is owned by institutional investors.

Insider Buying and Selling at Deckers Outdoor

In related news, Director Maha Saleh Ibrahim sold 300 shares of the firm’s stock in a transaction on Friday, June 6th. The shares were sold at an average price of $109.08, for a total transaction of $32,724.00. Following the sale, the director now owns 10,681 shares in the company, valued at approximately $1,165,083.48. This trade represents a 2.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Angela Ogbechie sold 6,244 shares of the 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 sale, the insider now directly owns 19,980 shares in the company, valued at approximately $2,075,722.20. The trade was a 23.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Raymond James restated a “strong-buy” rating on shares of Deckers Outdoor in a research report on Friday, May 23rd. TD Securities upped their target price on shares of Deckers Outdoor from $150.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday, May 20th. Wells Fargo & Company reduced their price objective on shares of Deckers Outdoor from $120.00 to $100.00 and set an “equal weight” rating on the stock in a research report on Friday, May 23rd. UBS Group set a $169.00 price target on Deckers Outdoor and gave the company a “buy” rating in a research note on Friday, May 23rd. Finally, Evercore ISI restated an “in-line” rating and issued a $110.00 target price (down from $235.00) on shares of Deckers Outdoor in a report on Friday, May 23rd. Thirteen research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $134.68.

Deckers Outdoor Stock Up 1.6%

Shares of DECK stock opened at $110.98 on Tuesday. The firm has a market cap of $16.58 billion, a price-to-earnings ratio of 17.99, a PEG ratio of 1.68 and a beta of 1.02. Deckers Outdoor Co. has a 52-week low of $93.72 and a 52-week high of $223.98. The company’s 50 day moving average is $112.17 and its 200 day moving average is $152.42.

Deckers Outdoor (NYSE:DECK) last announced its earnings results on Thursday, May 22nd. The textile maker reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.43. Deckers Outdoor had a net margin of 19.14% and a return on equity of 41.71%. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period last year, the firm earned $0.82 earnings per share. Deckers Outdoor’s revenue was up 6.5% compared to the same quarter last year. Analysts anticipate that Deckers Outdoor Co. will post 5.89 EPS for the current fiscal year.

Deckers Outdoor declared that its Board of Directors has authorized a stock buyback program on Thursday, May 22nd that allows the company to buyback $2.25 billion in shares. This buyback authorization allows the textile maker to repurchase up to 11.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its stock is 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.