GPS Wealth Strategies Group LLC Has $133,000 Position in Deckers Outdoor Co. (NYSE:DECK)

GPS Wealth Strategies Group LLC grew its holdings in Deckers Outdoor Co. (NYSE:DECK) by 66.0% during the 1st quarter, HoldingsChannel reports. The firm owned 1,192 shares of the textile maker’s stock after acquiring an additional 474 shares during the quarter. GPS Wealth Strategies Group LLC’s holdings in Deckers Outdoor were worth $133,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Fifth Third Bancorp lifted its stake in shares of Deckers Outdoor by 11.2% in the first quarter. Fifth Third Bancorp now owns 2,279 shares of the textile maker’s stock valued at $255,000 after buying an additional 229 shares during the period. Assenagon Asset Management S.A. lifted its stake in shares of Deckers Outdoor by 68.7% in the first quarter. Assenagon Asset Management S.A. now owns 485,067 shares of the textile maker’s stock valued at $54,235,000 after buying an additional 197,464 shares during the period. Handelsbanken Fonder AB lifted its stake in shares of Deckers Outdoor by 4.3% in the first quarter. Handelsbanken Fonder AB now owns 41,264 shares of the textile maker’s stock valued at $4,614,000 after buying an additional 1,700 shares during the period. SG Americas Securities LLC lifted its stake in shares of Deckers Outdoor by 1,150.1% in the first quarter. SG Americas Securities LLC now owns 109,196 shares of the textile maker’s stock valued at $12,209,000 after buying an additional 100,461 shares during the period. Finally, Harbor Capital Advisors Inc. bought a new stake in shares of Deckers Outdoor in the first quarter valued at about $339,000. 97.79% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Deckers Outdoor

In related news, 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 value of $648,689.16. Following the completion of the sale, the insider now owns 19,980 shares of the company’s stock, valued at $2,075,722.20. This trade represents a 23.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Cindy L. Davis bought 1,825 shares of the stock in a transaction on Friday, June 6th. The shares were acquired at an average cost of $109.76 per share, with a total value of $200,312.00. Following the acquisition, the director now directly owns 13,340 shares in the company, valued at approximately $1,464,198.40. This trade represents a 15.85% increase in their position. The disclosure for this purchase can be found here. 0.40% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on DECK shares. Piper Sandler reduced their target price on shares of Deckers Outdoor from $210.00 to $100.00 and set a “neutral” rating for the company in a research note on Friday, April 11th. Robert W. Baird cut their price target on shares of Deckers Outdoor from $160.00 to $140.00 and set an “outperform” rating for the company in a research note on Friday, May 23rd. Wells Fargo & Company cut their price target on shares of Deckers Outdoor from $120.00 to $100.00 and set an “equal weight” rating for the company in a research note on Friday, May 23rd. UBS Group set a $169.00 price target on shares of Deckers Outdoor and gave the stock a “buy” rating in a research note on Friday, May 23rd. Finally, Bank of America cut their price target on shares of Deckers Outdoor from $154.00 to $128.00 and set a “neutral” rating for the company in a research note on Friday, May 23rd. Fourteen investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $134.68.

Deckers Outdoor Trading Down 5.9%

NYSE:DECK opened at $101.38 on Friday. The stock has a market capitalization of $15.15 billion, a P/E ratio of 16.44, a price-to-earnings-growth ratio of 1.68 and a beta of 1.02. The firm has a 50 day moving average of $112.42 and a 200-day moving average of $150.57. Deckers Outdoor Co. has a 1 year low of $93.72 and a 1 year high of $223.98.

Deckers Outdoor (NYSE:DECK) last issued 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. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. Deckers Outdoor had a net margin of 19.14% and a return on equity of 41.71%. Deckers Outdoor’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.82 earnings per share. As a group, analysts forecast that Deckers Outdoor Co. will post 5.89 EPS for the current fiscal year.

Deckers Outdoor declared that its Board of Directors has initiated a stock repurchase plan on Thursday, May 22nd that permits the company to repurchase $2.25 billion in shares. This repurchase authorization permits the textile maker to buy up to 11.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s leadership believes its shares are 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.