Impact Partnership Wealth LLC Purchases New Position in Deckers Outdoor Corporation (NYSE:DECK)

Impact Partnership Wealth LLC acquired a new position in Deckers Outdoor Corporation (NYSE:DECK) in the 1st quarter, HoldingsChannel.com reports. The fund acquired 3,873 shares of the textile maker’s stock, valued at approximately $433,000.

Other hedge funds have also bought and sold shares of the company. Marks Group Wealth Management Inc grew its holdings in Deckers Outdoor by 15.4% during the 1st quarter. Marks Group Wealth Management Inc now owns 62,902 shares of the textile maker’s stock valued at $7,033,000 after buying an additional 8,410 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Deckers Outdoor by 17.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 17,864 shares of the textile maker’s stock valued at $1,997,000 after buying an additional 2,706 shares during the period. Park Avenue Securities LLC lifted its stake in shares of Deckers Outdoor by 32.3% in the 1st quarter. Park Avenue Securities LLC now owns 26,929 shares of the textile maker’s stock worth $3,011,000 after purchasing an additional 6,569 shares during the period. Principal Financial Group Inc. raised its position in Deckers Outdoor by 17.7% in the first quarter. Principal Financial Group Inc. now owns 587,747 shares of the textile maker’s stock worth $65,716,000 after acquiring an additional 88,179 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Deckers Outdoor during the 1st quarter valued at $493,000. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

DECK has been the topic of a number of recent analyst reports. Raymond James Financial restated a “strong-buy” rating on shares of Deckers Outdoor in a research note on Friday, May 23rd. Needham & Company LLC set a $150.00 target price on shares of Deckers Outdoor and gave the stock a “buy” rating in a report on Wednesday, May 21st. Barclays reiterated an “overweight” rating and issued a $128.00 price target (down previously from $129.00) on shares of Deckers Outdoor in a research note on Thursday, May 22nd. The Goldman Sachs Group initiated coverage on Deckers Outdoor in a research report on Wednesday, July 2nd. They issued a “sell” rating and a $90.00 price objective on the stock. Finally, Argus began coverage on Deckers Outdoor in a research note on Friday, June 13th. They issued a “hold” rating for the company. One analyst has rated the stock with a sell rating, fourteen have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $135.61.

Insider Buying and Selling

In other Deckers Outdoor news, Director Cindy L. Davis acquired 1,825 shares of the stock in a transaction dated Friday, June 6th. The stock was purchased at an average price of $109.76 per share, with a total value of $200,312.00. Following the transaction, the director directly owned 13,340 shares of the company’s stock, valued at $1,464,198.40. This trade represents a 15.85% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Maha Saleh Ibrahim sold 300 shares of the firm’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $109.08, for a total value of $32,724.00. Following the completion of the sale, the director directly owned 10,681 shares of the company’s stock, valued at approximately $1,165,083.48. This represents a 2.73% decrease in their position. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by company insiders.

Deckers Outdoor Stock Performance

Deckers Outdoor stock opened at $101.90 on Friday. Deckers Outdoor Corporation has a fifty-two week low of $93.72 and a fifty-two week high of $223.98. The company has a market capitalization of $15.23 billion, a PE ratio of 16.06, a P/E/G ratio of 6.21 and a beta of 0.99. The company has a 50 day moving average price of $108.14 and a 200-day moving average price of $132.62.

Deckers Outdoor (NYSE:DECK) last announced its quarterly earnings results on Thursday, May 22nd. The textile maker reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.43. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Deckers Outdoor had a net margin of 19.49% and a return on equity of 41.17%. The company’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.82 EPS. On average, analysts forecast that Deckers Outdoor Corporation will post 5.89 earnings per share for the current year.

Deckers Outdoor announced that its Board of Directors has approved a share buyback 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 buy up to 11.7% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s leadership 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.