Praxis Investment Management Inc. Purchases 4,460 Shares of Deckers Outdoor Corporation (NYSE:DECK)

Praxis Investment Management Inc. increased its position in shares of Deckers Outdoor Corporation (NYSE:DECK) by 133.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,790 shares of the textile maker’s stock after acquiring an additional 4,460 shares during the period. Praxis Investment Management Inc.’s holdings in Deckers Outdoor were worth $871,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in DECK. Norges Bank acquired a new stake in shares of Deckers Outdoor in the 4th quarter valued at $392,583,000. Raymond James Financial Inc. bought a new stake in shares of Deckers Outdoor during the 4th quarter worth $185,451,000. Jacobs Levy Equity Management Inc. boosted its stake in Deckers Outdoor by 204.8% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 889,624 shares of the textile maker’s stock valued at $180,674,000 after buying an additional 597,743 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Deckers Outdoor by 101.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,003,743 shares of the textile maker’s stock valued at $203,850,000 after buying an additional 505,139 shares in the last quarter. Finally, Los Angeles Capital Management LLC grew its position in Deckers Outdoor by 507.3% in the fourth quarter. Los Angeles Capital Management LLC now owns 593,020 shares of the textile maker’s stock valued at $120,436,000 after acquiring an additional 495,364 shares during the last quarter. 97.79% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on DECK shares. TD Securities increased their target price on shares of Deckers Outdoor from $150.00 to $175.00 and gave the stock a “buy” rating in a report on Tuesday, May 20th. KGI Securities raised shares of Deckers Outdoor to a “hold” rating in a research note on Monday, May 26th. Cowen restated a “buy” rating on shares of Deckers Outdoor in a research report on Tuesday, May 20th. Piper Sandler decreased their target price on shares of Deckers Outdoor from $210.00 to $100.00 and set a “neutral” rating on the stock in a research note on Friday, April 11th. Finally, Raymond James Financial reiterated a “strong-buy” rating on shares of Deckers Outdoor in a report on Friday, May 23rd. Fourteen investment analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $134.68.

Deckers Outdoor Stock Performance

Deckers Outdoor stock opened at $101.80 on Friday. The firm has a market cap of $15.21 billion, a price-to-earnings ratio of 16.05, a PEG ratio of 6.17 and a beta of 1.02. Deckers Outdoor Corporation has a 52-week low of $93.72 and a 52-week high of $223.98. The firm has a 50 day moving average price of $111.58 and a two-hundred day moving average price of $146.90.

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

Deckers Outdoor declared that its board has authorized a share repurchase program on Thursday, May 22nd that permits the company to buyback $2.25 billion in outstanding shares. This buyback authorization permits the textile maker to repurchase up to 11.7% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Insider Activity at Deckers Outdoor

In other news, Director Maha Saleh Ibrahim sold 300 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $109.08, for a total transaction of $32,724.00. Following the transaction, the director now owns 10,681 shares of the company’s stock, valued at $1,165,083.48. This represents a 2.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Angela Ogbechie sold 6,244 shares of the firm’s stock in a transaction dated 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 approximately $2,075,722.20. This represents a 23.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.40% of the stock is owned by corporate insiders.

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.