Deckers Outdoor Corporation (NYSE:DECK) Shares Acquired by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC lifted its holdings in shares of Deckers Outdoor Corporation (NYSE:DECK) by 56.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,181 shares of the textile maker’s stock after purchasing an additional 2,596 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Deckers Outdoor were worth $803,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in DECK. Mpwm Advisory Solutions LLC acquired a new stake in shares of Deckers Outdoor during the fourth quarter worth $26,000. Headlands Technologies LLC acquired a new position in Deckers Outdoor in the fourth quarter valued at $29,000. Vega Investment Solutions acquired a new position in Deckers Outdoor in the fourth quarter valued at $29,000. Whittier Trust Co. of Nevada Inc. boosted its holdings in Deckers Outdoor by 250.0% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 168 shares of the textile maker’s stock valued at $34,000 after acquiring an additional 120 shares during the last quarter. Finally, Fourth Dimension Wealth LLC acquired a new position in Deckers Outdoor in the fourth quarter valued at $41,000. Institutional investors and hedge funds own 97.79% of the company’s stock.

Wall Street Analyst Weigh In

DECK has been the topic of a number of research analyst reports. Barclays reiterated an “overweight” rating and issued a $128.00 target price (down previously from $129.00) on shares of Deckers Outdoor in a report on Thursday, May 22nd. TD Securities lifted their target price on Deckers Outdoor from $150.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, May 20th. Wells Fargo & Company reduced their target price on Deckers Outdoor from $120.00 to $100.00 and set an “equal weight” rating on the stock in a report on Friday, May 23rd. Evercore ISI reiterated an “in-line” rating and issued a $110.00 target price (down previously from $235.00) on shares of Deckers Outdoor in a report on Friday, May 23rd. Finally, KeyCorp reiterated a “sector weight” rating and issued a $150.00 target price on shares of Deckers Outdoor in a report on Friday, May 23rd. Fourteen research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Deckers Outdoor currently has a consensus rating of “Hold” and an average target price of $134.68.

Insider Activity at Deckers Outdoor

In related news, Director Cindy L. Davis bought 1,825 shares of the stock in a transaction dated Friday, June 6th. The stock was bought at an average cost of $109.76 per share, with a total value of $200,312.00. Following the completion of the acquisition, the director now owns 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Maha Saleh Ibrahim sold 300 shares of the company’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 transaction, the director now directly owns 10,681 shares of the company’s stock, valued at $1,165,083.48. This trade represents a 2.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.40% of the stock is owned by corporate insiders.

Deckers Outdoor Stock Performance

Shares of NYSE DECK opened at $101.80 on Friday. Deckers Outdoor Corporation has a 1 year low of $93.72 and a 1 year high of $223.98. The firm has a market cap of $15.21 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 6.13 and a beta of 1.02. The stock’s 50-day simple moving average is $111.58 and its 200-day simple moving average is $147.30.

Deckers Outdoor (NYSE:DECK) last announced its quarterly earnings data 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. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. Deckers Outdoor had a return on equity of 41.17% and a net margin of 19.49%. Deckers Outdoor’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.82 earnings per share. As a group, research analysts predict that Deckers Outdoor Corporation will post 5.89 EPS for the current year.

Deckers Outdoor declared that its board has approved a stock buyback plan on Thursday, May 22nd that authorizes the company to buyback $2.25 billion in shares. This buyback authorization authorizes the textile maker to purchase up to 11.7% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are 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.