Mirae Asset Global Investments Co. Ltd. Raises Position in Deckers Outdoor Corporation (NYSE:DECK)

Mirae Asset Global Investments Co. Ltd. boosted its stake in Deckers Outdoor Corporation (NYSE:DECK) by 18.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 19,805 shares of the textile maker’s stock after acquiring an additional 3,028 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Deckers Outdoor were worth $2,209,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Mpwm Advisory Solutions LLC acquired a new position in Deckers Outdoor during the fourth quarter worth about $26,000. Headlands Technologies LLC acquired a new position in Deckers Outdoor during the fourth quarter worth about $29,000. Vega Investment Solutions acquired a new position in Deckers Outdoor during the fourth quarter worth about $29,000. Whittier Trust Co. of Nevada Inc. grew its position in Deckers Outdoor by 250.0% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 168 shares of the textile maker’s stock worth $34,000 after buying an additional 120 shares during the period. Finally, Fourth Dimension Wealth LLC acquired a new position in Deckers Outdoor during the fourth quarter worth about $41,000. 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 firm’s stock in a transaction on Friday, June 6th. The stock was sold at an average price of $109.08, for a total transaction of $32,724.00. Following the completion of the sale, the director directly owned 10,681 shares of the company’s stock, valued at $1,165,083.48. This trade represents a 2.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Cindy L. Davis purchased 1,825 shares of the firm’s stock in a transaction that occurred on Friday, June 6th. The stock was bought at an average price of $109.76 per share, with a total value of $200,312.00. Following the transaction, the director directly owned 13,340 shares in the company, valued at $1,464,198.40. This trade represents a 15.85% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.40% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on DECK shares. Needham & Company LLC set a $150.00 target price on shares of Deckers Outdoor and gave the stock a “buy” rating in a research report on Wednesday, May 21st. Cowen reiterated a “buy” rating on shares of Deckers Outdoor in a research report on Tuesday, May 20th. The Goldman Sachs Group started coverage on shares of Deckers Outdoor in a report on Wednesday. They issued a “sell” rating and a $90.00 target price on the stock. Citigroup lowered their price target on shares of Deckers Outdoor from $215.00 to $150.00 and set a “buy” rating for the company in a report on Monday, April 28th. Finally, Robert W. Baird cut their price objective on shares of Deckers Outdoor from $160.00 to $140.00 and set an “outperform” rating for the company in a research report on Friday, May 23rd. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $137.66.

Deckers Outdoor Stock Performance

Shares of DECK opened at $105.78 on Friday. Deckers Outdoor Corporation has a one year low of $93.72 and a one year high of $223.98. The stock has a 50-day moving average price of $111.12 and a 200 day moving average price of $141.06. The company has a market capitalization of $15.81 billion, a P/E ratio of 16.68, a P/E/G ratio of 6.45 and a beta of 0.99.

Deckers Outdoor (NYSE:DECK) last issued its quarterly earnings results on Thursday, May 22nd. The textile maker reported $1.00 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.43. Deckers Outdoor had a net margin of 19.49% and a return on equity of 41.17%. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter in the previous year, the firm earned $0.82 earnings per share. The business’s revenue was up 6.5% compared to the same quarter last year. As a group, equities research analysts forecast that Deckers Outdoor Corporation will post 5.89 earnings per share for the current fiscal year.

Deckers Outdoor announced that its board has approved a stock repurchase program on Thursday, May 22nd that authorizes the company to buyback $2.25 billion in shares. This buyback authorization authorizes the textile maker to repurchase up to 11.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s board believes its stock is undervalued.

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.