Marks Group Wealth Management Inc Purchases 8,410 Shares of Deckers Outdoor Corporation (NYSE:DECK)

Marks Group Wealth Management Inc boosted its position in shares of Deckers Outdoor Corporation (NYSE:DECK) by 15.4% during the 1st quarter, HoldingsChannel.com reports. The fund owned 62,902 shares of the textile maker’s stock after buying an additional 8,410 shares during the quarter. Marks Group Wealth Management Inc’s holdings in Deckers Outdoor were worth $7,033,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Draper Asset Management LLC bought a new position in shares of Deckers Outdoor in the first quarter valued at about $534,000. Diversify Wealth Management LLC raised its position in shares of Deckers Outdoor by 25.7% in the first quarter. Diversify Wealth Management LLC now owns 7,310 shares of the textile maker’s stock valued at $816,000 after purchasing an additional 1,493 shares during the period. Narus Financial Partners LLC bought a new position in shares of Deckers Outdoor in the first quarter valued at about $4,726,000. Alps Advisors Inc. raised its position in shares of Deckers Outdoor by 33.7% in the first quarter. Alps Advisors Inc. now owns 3,056 shares of the textile maker’s stock valued at $342,000 after purchasing an additional 770 shares during the period. Finally, Allworth Financial LP raised its position in shares of Deckers Outdoor by 52.1% in the first quarter. Allworth Financial LP now owns 2,183 shares of the textile maker’s stock valued at $242,000 after purchasing an additional 748 shares during the period. 97.79% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, Director Cindy L. Davis purchased 1,825 shares of Deckers Outdoor stock in a transaction that occurred on Friday, June 6th. The shares were acquired at an average price of $109.76 per share, for a total transaction of $200,312.00. Following the transaction, the director 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 document filed with the SEC, which is available through this link. Also, insider Angela Ogbechie sold 6,244 shares of the firm’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $103.89, for a total transaction of $648,689.16. Following the completion of the sale, the insider owned 19,980 shares in the company, valued at $2,075,722.20. This represents a 23.81% decrease in their position. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by company insiders.

Deckers Outdoor Trading Down 3.0%

NYSE DECK opened at $101.77 on Friday. The firm has a market capitalization of $15.21 billion, a price-to-earnings ratio of 16.04, a P/E/G ratio of 6.18 and a beta of 0.99. The firm’s 50 day simple moving average is $110.32 and its 200 day simple moving average is $136.33. Deckers Outdoor Corporation has a 1 year low of $93.72 and a 1 year 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 (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.43. The business had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. Deckers Outdoor had a net margin of 19.49% and a return on equity of 41.17%. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter last year, the business posted $0.82 EPS. On average, equities research analysts forecast 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 share repurchase plan 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 stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

Analysts Set New Price Targets

DECK has been the topic of several research analyst reports. TD Securities increased their price objective on shares of Deckers Outdoor from $150.00 to $175.00 and gave the company a “buy” rating in a research report on Tuesday, May 20th. Bank of America dropped their price objective on shares of Deckers Outdoor from $154.00 to $128.00 and set a “neutral” rating on the stock in a research report on Friday, May 23rd. Barclays reissued an “overweight” rating and issued a $128.00 price objective (down from $129.00) on shares of Deckers Outdoor in a research report on Thursday, May 22nd. Citigroup dropped their price objective on shares of Deckers Outdoor from $215.00 to $150.00 and set a “buy” rating on the stock in a research report on Monday, April 28th. Finally, UBS Group set a $169.00 price objective on shares of Deckers Outdoor and gave the stock a “buy” rating in a research note on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $137.66.

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.