Handelsbanken Fonder AB Purchases 1,700 Shares of Deckers Outdoor Co. (NYSE:DECK)

Handelsbanken Fonder AB grew its stake in shares of Deckers Outdoor Co. (NYSE:DECK) by 4.3% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 41,264 shares of the textile maker’s stock after purchasing an additional 1,700 shares during the quarter. Handelsbanken Fonder AB’s holdings in Deckers Outdoor were worth $4,614,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. SG Americas Securities LLC raised its position in shares of Deckers Outdoor by 1,150.1% during the first quarter. SG Americas Securities LLC now owns 109,196 shares of the textile maker’s stock valued at $12,209,000 after buying an additional 100,461 shares during the last quarter. Harbor Capital Advisors Inc. bought a new stake in shares of Deckers Outdoor during the first quarter valued at approximately $339,000. Farther Finance Advisors LLC raised its position in shares of Deckers Outdoor by 130.1% during the first quarter. Farther Finance Advisors LLC now owns 5,546 shares of the textile maker’s stock valued at $629,000 after buying an additional 3,136 shares during the last quarter. Wedge Capital Management L L P NC raised its position in shares of Deckers Outdoor by 39.2% during the first quarter. Wedge Capital Management L L P NC now owns 320,112 shares of the textile maker’s stock valued at $35,792,000 after buying an additional 90,081 shares during the last quarter. Finally, Park Avenue Securities LLC raised its position in shares of Deckers Outdoor by 32.3% during the first quarter. Park Avenue Securities LLC now owns 26,929 shares of the textile maker’s stock valued at $3,011,000 after buying an additional 6,569 shares during the last quarter. Institutional investors own 97.79% of the company’s stock.

Deckers Outdoor Stock Down 5.9%

NYSE DECK opened at $101.38 on Friday. Deckers Outdoor Co. has a 52 week low of $93.72 and a 52 week high of $223.98. The firm has a market capitalization of $15.15 billion, a price-to-earnings ratio of 16.44, a PEG ratio of 1.68 and a beta of 1.02. The company has a fifty day moving average of $112.42 and a two-hundred day moving average of $150.57.

Deckers Outdoor (NYSE:DECK) last issued its earnings results on Thursday, May 22nd. The textile maker reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 net margin of 19.14% and a return on equity of 41.71%. The business’s revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.82 earnings per share. Equities research analysts anticipate that Deckers Outdoor Co. will post 5.89 EPS for the current year.

Deckers Outdoor announced that its board has authorized a stock repurchase plan on Thursday, May 22nd that permits the company to repurchase $2.25 billion in shares. This repurchase authorization permits the textile maker to repurchase up to 11.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on DECK shares. Piper Sandler cut their target price on shares of Deckers Outdoor from $210.00 to $100.00 and set a “neutral” rating for the company in a report on Friday, April 11th. Needham & Company LLC set a $150.00 target price on shares of Deckers Outdoor and gave the company a “buy” rating in a report on Wednesday, May 21st. Barclays reissued an “overweight” rating and issued a $128.00 target price (down from $129.00) on shares of Deckers Outdoor in a report on Thursday, May 22nd. UBS Group set a $169.00 target price on shares of Deckers Outdoor and gave the company a “buy” rating in a report on Friday, May 23rd. Finally, Raymond James reissued a “strong-buy” rating 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 assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $134.68.

Insider Activity

In related news, Director Maha Saleh Ibrahim sold 300 shares of Deckers Outdoor 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 now directly owns 10,681 shares in the company, valued at $1,165,083.48. The trade was a 2.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Angela Ogbechie sold 6,244 shares of Deckers Outdoor stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $103.89, for a total value of $648,689.16. Following the completion of the sale, the insider now owns 19,980 shares of the company’s stock, valued at $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. Insiders own 0.40% of the company’s stock.

About Deckers Outdoor

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.