KBC Group NV Reduces Stock Holdings in Deckers Outdoor Corporation (NYSE:DECK)

KBC Group NV decreased its stake in Deckers Outdoor Corporation (NYSE:DECK) by 29.4% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 21,589 shares of the textile maker’s stock after selling 9,005 shares during the quarter. KBC Group NV’s holdings in Deckers Outdoor were worth $2,414,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Mpwm Advisory Solutions LLC purchased a new position in Deckers Outdoor during the 4th quarter valued at $26,000. Headlands Technologies LLC purchased a new stake in shares of Deckers Outdoor in the 4th quarter worth $29,000. Vega Investment Solutions bought a new position in shares of Deckers Outdoor in the 4th quarter worth $29,000. Whittier Trust Co. of Nevada Inc. raised its position in shares of Deckers Outdoor by 250.0% in the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 168 shares of the textile maker’s stock worth $34,000 after acquiring an additional 120 shares in the last quarter. Finally, Fourth Dimension Wealth LLC bought a new position in shares of Deckers Outdoor in the 4th quarter worth $41,000. Hedge funds and other institutional investors own 97.79% of the company’s stock.

Insider Buying and Selling at Deckers Outdoor

In related news, Director Cindy L. Davis purchased 1,825 shares of the company’s stock in a transaction that occurred on Friday, June 6th. The shares were purchased at an average price of $109.76 per share, for a total transaction of $200,312.00. Following the transaction, the director directly owned 13,340 shares of the company’s stock, valued at approximately $1,464,198.40. The trade was a 15.85% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Maha Saleh Ibrahim sold 300 shares of Deckers Outdoor 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 directly owned 10,681 shares in the company, valued at $1,165,083.48. This represents a 2.73% decrease in their position. The disclosure for this sale can be found here. 0.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on DECK. KGI Securities raised Deckers Outdoor to a “hold” rating in a report on Monday, May 26th. Raymond James Financial reissued a “strong-buy” rating on shares of Deckers Outdoor in a report on Friday, May 23rd. Needham & Company LLC set a $150.00 price objective on Deckers Outdoor and gave the company a “buy” rating in a report on Wednesday, May 21st. Piper Sandler cut their price objective on Deckers Outdoor from $210.00 to $100.00 and set a “neutral” rating on the stock in a report on Friday, April 11th. Finally, TD Securities upped their target price on Deckers Outdoor from $150.00 to $175.00 and gave the stock a “buy” rating in a research note on Tuesday, May 20th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $137.66.

Deckers Outdoor Trading Down 0.5%

NYSE:DECK opened at $105.78 on Friday. The firm has a market cap of $15.81 billion, a PE ratio of 16.68, a price-to-earnings-growth ratio of 6.45 and a beta of 0.99. The stock has a fifty day moving average price of $111.12 and a 200 day moving average price of $141.06. Deckers Outdoor Corporation has a 12-month low of $93.72 and a 12-month high of $223.98.

Deckers Outdoor (NYSE:DECK) last posted its quarterly earnings results on Thursday, May 22nd. The textile maker reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.43. Deckers Outdoor had a return on equity of 41.17% and a net margin of 19.49%. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1.01 billion. During the same period last year, the firm earned $0.82 earnings per share. Deckers Outdoor’s quarterly revenue was up 6.5% on a year-over-year basis. Equities analysts forecast that Deckers Outdoor Corporation will post 5.89 EPS for the current year.

Deckers Outdoor announced that its Board of Directors has authorized a share buyback plan on Thursday, May 22nd that allows the company to repurchase $2.25 billion in outstanding shares. This repurchase authorization allows the textile maker to reacquire up to 11.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management 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.