Insider Selling: Deckers Outdoor Co. (NYSE:DECK) Insider Sells $648,689.16 in Stock

Deckers Outdoor Co. (NYSE:DECK) insider Angela Ogbechie sold 6,244 shares of Deckers Outdoor stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $103.89, for a total transaction of $648,689.16. Following the transaction, the insider now owns 19,980 shares in the company, valued at approximately $2,075,722.20. This trade represents a 23.81% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Deckers Outdoor Trading Up 0.9%

Shares of NYSE DECK opened at $109.29 on Friday. The firm has a 50 day moving average of $112.31 and a 200 day moving average of $153.35. The firm has a market capitalization of $16.33 billion, a price-to-earnings ratio of 17.72, a price-to-earnings-growth ratio of 1.68 and a beta of 1.02. Deckers Outdoor Co. has a 12-month low of $93.72 and a 12-month high of $223.98.

Deckers Outdoor (NYSE:DECK) last issued its quarterly earnings results 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. Deckers Outdoor had a net margin of 19.14% and a return on equity of 41.71%. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the previous year, the firm earned $0.82 earnings per share. The company’s revenue for the quarter was up 6.5% on a year-over-year basis. Sell-side analysts predict that Deckers Outdoor Co. will post 5.89 EPS for the current year.

Deckers Outdoor declared that its board has approved a stock repurchase program on Thursday, May 22nd that authorizes the company to repurchase $2.25 billion in outstanding shares. This repurchase authorization authorizes the textile maker to buy up to 11.7% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board believes its shares are undervalued.

Hedge Funds Weigh In On Deckers Outdoor

Several hedge funds have recently modified their holdings of DECK. Resonant Capital Advisors LLC raised its stake in Deckers Outdoor by 2.2% during the fourth quarter. Resonant Capital Advisors LLC now owns 2,408 shares of the textile maker’s stock valued at $489,000 after purchasing an additional 52 shares in the last quarter. Bleakley Financial Group LLC raised its stake in Deckers Outdoor by 3.9% during the fourth quarter. Bleakley Financial Group LLC now owns 1,444 shares of the textile maker’s stock valued at $293,000 after purchasing an additional 54 shares in the last quarter. Mather Group LLC. raised its stake in Deckers Outdoor by 2.6% during the fourth quarter. Mather Group LLC. now owns 2,567 shares of the textile maker’s stock valued at $521,000 after purchasing an additional 64 shares in the last quarter. Prosperity Wealth Management Inc. raised its stake in Deckers Outdoor by 2.8% during the fourth quarter. Prosperity Wealth Management Inc. now owns 2,777 shares of the textile maker’s stock valued at $564,000 after purchasing an additional 75 shares in the last quarter. Finally, WD Rutherford LLC raised its stake in shares of Deckers Outdoor by 4.8% in the fourth quarter. WD Rutherford LLC now owns 1,735 shares of the textile maker’s stock valued at $352,000 after acquiring an additional 79 shares during the period. Hedge funds and other institutional investors own 97.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Robert W. Baird cut their price target on shares of Deckers Outdoor from $160.00 to $140.00 and set an “outperform” rating on the stock in a report on Friday, May 23rd. Citigroup lowered their target price on shares of Deckers Outdoor from $215.00 to $150.00 and set a “buy” rating for the company in a research note on Monday, April 28th. Barclays reissued an “overweight” rating and set a $128.00 target price (down previously from $129.00) on shares of Deckers Outdoor in a research note on Thursday, May 22nd. Stifel Nicolaus lowered their target price on shares of Deckers Outdoor from $185.00 to $127.00 and set a “hold” rating for the company in a research note on Thursday, April 10th. Finally, UBS Group set a $169.00 target price on shares of Deckers Outdoor and gave the stock a “buy” rating in a research note on Friday, May 23rd. Thirteen equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Deckers Outdoor presently has a consensus rating of “Moderate Buy” and an average target price of $134.68.

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.