Kentucky Retirement Systems Insurance Trust Fund Buys New Stake in Deckers Outdoor Corporation (NYSE:DECK)

Kentucky Retirement Systems Insurance Trust Fund bought a new stake in shares of Deckers Outdoor Corporation (NYSE:DECK) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 4,410 shares of the textile maker’s stock, valued at approximately $493,000.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Deckers Outdoor by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 17,639,783 shares of the textile maker’s stock valued at $3,582,464,000 after acquiring an additional 229,807 shares in the last quarter. Geode Capital Management LLC grew its stake in 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 valued at $831,723,000 after acquiring an additional 45,035 shares in the last quarter. Norges Bank purchased a new position in Deckers Outdoor during the fourth quarter valued at $392,583,000. Northern Trust Corp grew its stake in Deckers Outdoor by 13.9% during the fourth quarter. Northern Trust Corp now owns 1,581,702 shares of the textile maker’s stock valued at $321,228,000 after acquiring an additional 192,469 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Deckers Outdoor by 11.4% during 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 acquiring an additional 145,794 shares in the last quarter. 97.79% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Deckers Outdoor

In other news, 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 completion of the sale, the director now owns 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Angela Ogbechie sold 6,244 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 19,980 shares of the company’s stock, valued at $2,075,722.20. The trade was a 23.81% decrease in their position. The disclosure for this sale can be found here. 0.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on DECK. UBS Group set a $169.00 target price on shares of Deckers Outdoor and gave the company a “buy” rating in a research note on Friday, May 23rd. Telsey Advisory Group cut shares of Deckers Outdoor from an “outperform” rating to a “market perform” rating in a research note on Friday, May 23rd. Piper Sandler dropped their price objective on shares of Deckers Outdoor from $210.00 to $100.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Evercore ISI reissued an “in-line” rating and issued a $110.00 price objective (down from $235.00) on shares of Deckers Outdoor in a research note on Friday, May 23rd. Finally, Cowen reissued a “buy” rating on shares of Deckers Outdoor in a research note on Tuesday, May 20th. Fourteen investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $134.68.

Deckers Outdoor Price Performance

Deckers Outdoor stock opened at $102.19 on Wednesday. The stock has a market cap of $15.27 billion, a price-to-earnings ratio of 16.11, a price-to-earnings-growth ratio of 6.10 and a beta of 1.02. Deckers Outdoor Corporation has a 1 year low of $93.72 and a 1 year high of $223.98. The firm has a 50-day moving average of $111.40 and a two-hundred day moving average of $145.53.

Deckers Outdoor (NYSE:DECK) last released its quarterly earnings data on Thursday, May 22nd. The textile maker reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.43. The company 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 firm’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 EPS. Research analysts expect that Deckers Outdoor Corporation will post 5.89 earnings per share for the current year.

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

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.