Smith Group Asset Management LLC Acquires Shares of 520 Deckers Outdoor Co. (NYSE:DECK)

Smith Group Asset Management LLC acquired a new stake in shares of Deckers Outdoor Co. (NYSE:DECK) during the first quarter, Holdings Channel reports. The fund acquired 520 shares of the textile maker’s stock, valued at approximately $489,000.

Other large investors have also recently added to or reduced their stakes in the company. Handelsbanken Fonder AB boosted its stake in Deckers Outdoor by 12.4% during the 4th quarter. Handelsbanken Fonder AB now owns 5,444 shares of the textile maker’s stock valued at $3,639,000 after acquiring an additional 600 shares during the last quarter. Intrust Bank NA raised its holdings in shares of Deckers Outdoor by 1.3% during the fourth quarter. Intrust Bank NA now owns 2,956 shares of the textile maker’s stock worth $1,976,000 after purchasing an additional 38 shares during the period. Cim LLC acquired a new stake in shares of Deckers Outdoor during the fourth quarter worth $2,311,000. Advisor Resource Council acquired a new stake in shares of Deckers Outdoor during the fourth quarter worth $970,000. Finally, Advisors Preferred LLC acquired a new stake in shares of Deckers Outdoor during the fourth quarter worth $2,271,000. 97.79% of the stock is currently owned by institutional investors.

Deckers Outdoor Stock Up 0.4 %

Deckers Outdoor stock traded up $3.63 during trading hours on Friday, hitting $939.32. 178,924 shares of the company traded hands, compared to its average volume of 300,375. The firm has a market cap of $23.90 billion, a P/E ratio of 32.07, a P/E/G ratio of 3.13 and a beta of 1.06. The firm’s 50-day simple moving average is $960.37 and its two-hundred day simple moving average is $868.32. Deckers Outdoor Co. has a 1-year low of $484.02 and a 1-year high of $1,106.89.

Deckers Outdoor (NYSE:DECK) last released its earnings results on Thursday, May 23rd. The textile maker reported $4.95 EPS for the quarter, beating the consensus estimate of $2.82 by $2.13. Deckers Outdoor had a net margin of 17.69% and a return on equity of 38.85%. The firm had revenue of $959.76 million for the quarter, compared to analysts’ expectations of $892.00 million. During the same quarter last year, the company earned $3.46 EPS. Deckers Outdoor’s quarterly revenue was up 21.2% on a year-over-year basis. On average, equities research analysts predict that Deckers Outdoor Co. will post 30.59 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on DECK. KeyCorp increased their target price on shares of Deckers Outdoor from $960.00 to $1,015.00 and gave the stock an “overweight” rating in a report on Friday, May 24th. Stifel Nicolaus increased their target price on shares of Deckers Outdoor from $775.00 to $825.00 and gave the stock a “hold” rating in a report on Friday, May 24th. Bank of America increased their price objective on shares of Deckers Outdoor from $860.00 to $1,020.00 and gave the stock a “neutral” rating in a report on Friday, May 24th. Robert W. Baird increased their price objective on shares of Deckers Outdoor from $975.00 to $1,050.00 and gave the stock an “outperform” rating in a report on Friday, May 24th. Finally, Wedbush increased their price objective on shares of Deckers Outdoor from $1,000.00 to $1,030.00 and gave the stock an “outperform” rating in a report on Friday, May 24th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $1,023.44.

Insider Activity

In other news, insider Thomas Garcia sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $1,074.86, for a total transaction of $4,299,440.00. Following the completion of the transaction, the insider now owns 11,654 shares in the company, valued at approximately $12,526,418.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Deckers Outdoor news, insider Thomas Garcia sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $1,074.86, for a total value of $4,299,440.00. Following the completion of the transaction, the insider now directly owns 11,654 shares in the company, valued at $12,526,418.44. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Angela Ogbechie sold 153 shares of the firm’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $1,077.93, for a total transaction of $164,923.29. Following the completion of the transaction, the insider now owns 3,779 shares of the company’s stock, valued at $4,073,497.47. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,101 shares of company stock worth $28,858,562. Corporate insiders own 0.70% of the company’s stock.

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 and apparel for ultra-runners and athletes under the Hoka brand; and sandals, shoes, and boots under the Teva brand name.