Meeder Asset Management Inc. Increases Stock Holdings in Deckers Outdoor Corporation (NYSE:DECK)

Meeder Asset Management Inc. grew its stake in Deckers Outdoor Corporation (NYSE:DECK) by 1,628.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,746 shares of the textile maker’s stock after purchasing an additional 1,645 shares during the period. Meeder Asset Management Inc.’s holdings in Deckers Outdoor were worth $195,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Meeder Advisory Services Inc. increased its stake in shares of Deckers Outdoor by 33.1% during the first quarter. Meeder Advisory Services Inc. now owns 1,916 shares of the textile maker’s stock worth $214,000 after acquiring an additional 476 shares during the period. Mackenzie Financial Corp boosted its holdings in Deckers Outdoor by 6.8% in the 1st quarter. Mackenzie Financial Corp now owns 17,157 shares of the textile maker’s stock valued at $1,918,000 after purchasing an additional 1,088 shares in the last quarter. LPL Financial LLC boosted its holdings in Deckers Outdoor by 18.1% in the 1st quarter. LPL Financial LLC now owns 231,567 shares of the textile maker’s stock valued at $25,891,000 after purchasing an additional 35,554 shares in the last quarter. Inspire Advisors LLC increased its position in Deckers Outdoor by 23.9% during the 1st quarter. Inspire Advisors LLC now owns 6,725 shares of the textile maker’s stock worth $752,000 after purchasing an additional 1,298 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Deckers Outdoor by 156.6% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 217,182 shares of the textile maker’s stock worth $24,283,000 after buying an additional 132,534 shares in the last quarter. Hedge funds and other institutional investors own 97.79% of the company’s stock.

Deckers Outdoor Stock Down 0.4%

Shares of NYSE:DECK opened at $111.89 on Wednesday. The company has a market capitalization of $16.62 billion, a P/E ratio of 17.16, a P/E/G ratio of 7.15 and a beta of 0.99. Deckers Outdoor Corporation has a 52-week low of $93.72 and a 52-week high of $223.98. The stock’s fifty day simple moving average is $105.57 and its 200-day simple moving average is $127.87.

Deckers Outdoor (NYSE:DECK) last announced its earnings results on Thursday, July 24th. The textile maker reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.25. Deckers Outdoor had a net margin of 19.42% and a return on equity of 40.49%. The firm had revenue of $964.54 million during the quarter, compared to the consensus estimate of $901.45 million. During the same quarter in the previous year, the company posted $4.52 EPS. The firm’s revenue for the quarter was up 16.9% on a year-over-year basis. On average, sell-side analysts anticipate that Deckers Outdoor Corporation will post 5.89 earnings per share for the current year.

Deckers Outdoor announced that its Board of Directors has initiated a share repurchase program on Thursday, May 22nd that allows the company to repurchase $2.25 billion in outstanding shares. This repurchase authorization allows the textile maker to purchase up to 11.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its shares are undervalued.

Insider Activity at Deckers Outdoor

In other Deckers Outdoor news, Director Maha Saleh Ibrahim sold 300 shares of the 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 transaction, the director owned 10,681 shares of the company’s stock, valued at $1,165,083.48. This represents a 2.73% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Cindy L. Davis acquired 1,825 shares of the firm’s stock in a transaction dated 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 acquisition, 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 ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.40% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. KGI Securities upgraded Deckers Outdoor to a “hold” rating in a research note on Monday, May 26th. Robert W. Baird raised their target price on Deckers Outdoor from $140.00 to $150.00 and gave the company an “outperform” rating in a report on Friday, July 25th. Needham & Company LLC reaffirmed a “buy” rating and set a $128.00 price target (up from $120.00) on shares of Deckers Outdoor in a research note on Wednesday, July 23rd. TD Securities increased their price target on shares of Deckers Outdoor from $150.00 to $175.00 and gave the company a “buy” rating in a report on Tuesday, May 20th. Finally, KeyCorp reiterated a “sector weight” rating and issued a $150.00 price objective on shares of Deckers Outdoor in a research note on Friday, May 23rd. One research analyst has rated the stock with a sell rating, fourteen have given a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $137.50.

Deckers Outdoor Company 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.