Tower View Wealth Management LLC Purchases New Holdings in Deckers Outdoor Corporation (NYSE:DECK)

Tower View Wealth Management LLC bought a new position in shares of Deckers Outdoor Corporation (NYSE:DECK) during the 1st quarter, Holdings Channel.com reports. The fund bought 11,031 shares of the textile maker’s stock, valued at approximately $1,233,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mpwm Advisory Solutions LLC acquired a new position in Deckers Outdoor during the 4th quarter worth approximately $26,000. Headlands Technologies LLC acquired a new stake in shares of Deckers Outdoor in the 4th quarter worth approximately $29,000. Vega Investment Solutions acquired a new stake in shares of Deckers Outdoor in the 4th quarter worth approximately $29,000. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Deckers Outdoor by 250.0% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 168 shares of the textile maker’s stock worth $34,000 after acquiring an additional 120 shares during the period. Finally, Fourth Dimension Wealth LLC acquired a new stake in shares of Deckers Outdoor in the 4th quarter worth approximately $41,000. Institutional investors and hedge funds own 97.79% of the company’s stock.

Insider Transactions at Deckers Outdoor

In other Deckers Outdoor news, Director Maha Saleh Ibrahim sold 300 shares of the firm’s stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $109.08, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Angela Ogbechie sold 6,244 shares of the firm’s stock in a transaction that occurred on 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 sale, the insider now owns 19,980 shares in the company, valued at $2,075,722.20. The trade was a 23.81% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on DECK. Piper Sandler lowered their price target on Deckers Outdoor from $210.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. TD Securities upped their target price on Deckers Outdoor from $150.00 to $175.00 and gave the company a “buy” rating in a research note on Tuesday, May 20th. Needham & Company LLC set a $150.00 target price on Deckers Outdoor and gave the company a “buy” rating in a research note on Wednesday, May 21st. Telsey Advisory Group lowered Deckers Outdoor from an “outperform” rating to a “market perform” rating in a research note on Friday, May 23rd. Finally, Raymond James Financial reissued a “strong-buy” rating on shares of Deckers Outdoor in a research note on Friday, May 23rd. Fourteen equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $134.68.

Deckers Outdoor Price Performance

Shares of Deckers Outdoor stock opened at $101.80 on Friday. The business has a 50-day moving average of $111.58 and a 200-day moving average of $147.30. The company has a market capitalization of $15.21 billion, a PE ratio of 16.05, a P/E/G ratio of 6.13 and a beta of 1.02. Deckers Outdoor Corporation has a 1-year low of $93.72 and a 1-year high of $223.98.

Deckers Outdoor (NYSE:DECK) last issued its quarterly earnings results on Thursday, May 22nd. The textile maker reported $1.00 EPS for the quarter, topping the consensus estimate of $0.57 by $0.43. Deckers Outdoor had a net margin of 19.49% and a return on equity of 41.17%. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same quarter last year, the company posted $0.82 earnings per share. The company’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, equities analysts expect 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 approved a stock repurchase plan on Thursday, May 22nd that permits the company to repurchase $2.25 billion in outstanding shares. This repurchase authorization permits the textile maker to reacquire up to 11.7% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management 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.