GF Fund Management CO. LTD. Buys Shares of 40,223 Deckers Outdoor Co. (NYSE:DECK)

GF Fund Management CO. LTD. purchased a new position in shares of Deckers Outdoor Co. (NYSE:DECK) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 40,223 shares of the textile maker’s stock, valued at approximately $8,169,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in DECK. Vanguard Group Inc. grew its holdings in Deckers Outdoor by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 17,639,783 shares of the textile maker’s stock worth $3,582,464,000 after acquiring an additional 229,807 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Deckers Outdoor by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 4,104,954 shares of the textile maker’s stock worth $831,723,000 after purchasing an additional 45,035 shares during the last quarter. Norges Bank acquired a new position in Deckers Outdoor in the fourth quarter worth about $392,583,000. Northern Trust Corp grew its stake in Deckers Outdoor by 13.9% in the fourth quarter. Northern Trust Corp now owns 1,581,702 shares of the textile maker’s stock worth $321,228,000 after purchasing an additional 192,469 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Deckers Outdoor by 11.4% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,423,149 shares of the textile maker’s stock valued at $289,027,000 after buying an additional 145,794 shares during the last quarter. Institutional investors own 97.79% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Truist Financial decreased their target price on Deckers Outdoor from $235.00 to $225.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Raymond James restated a “strong-buy” rating on shares of Deckers Outdoor in a research note on Friday. Evercore ISI reaffirmed an “in-line” rating and issued a $110.00 price objective (down previously from $235.00) on shares of Deckers Outdoor in a report on Friday. Cowen reissued a “buy” rating on shares of Deckers Outdoor in a report on Tuesday. Finally, Barclays restated an “overweight” rating and issued a $128.00 price target (down from $129.00) on shares of Deckers Outdoor in a research report on Thursday. Twelve analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $134.68.

Deckers Outdoor Stock Down 20.0%

DECK stock opened at $100.89 on Friday. Deckers Outdoor Co. has a twelve month low of $93.72 and a twelve month high of $223.98. The business’s fifty day moving average is $114.55 and its 200-day moving average is $158.10. The company has a market cap of $15.31 billion, a P/E ratio of 16.36, a price-to-earnings-growth ratio of 1.68 and a beta of 1.11.

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

Deckers Outdoor announced that its board has initiated a stock buyback program on Thursday, May 22nd that permits the company to buyback $2.25 billion in outstanding shares. This buyback authorization permits the textile maker to reacquire up to 11.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s management believes its stock is undervalued.

Insider Activity

In other news, Director Maha Saleh Ibrahim sold 300 shares of the firm’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $134.48, for a total value of $40,344.00. Following the completion of the sale, the director now directly owns 10,388 shares of the company’s stock, valued at $1,396,978.24. This trade represents a 2.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director David Powers sold 25,000 shares of Deckers Outdoor stock in a transaction on 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 transaction, the director now directly owns 241,777 shares of the company’s stock, valued at approximately $33,568,318.68. This trade represents a 9.37% 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 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.