Franklin Resources Inc. Boosts Stock Position in Deckers Outdoor Co. (NYSE:DECK)

Franklin Resources Inc. boosted its holdings in shares of Deckers Outdoor Co. (NYSE:DECK) by 497.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 390,874 shares of the textile maker’s stock after purchasing an additional 325,451 shares during the quarter. Franklin Resources Inc. owned about 0.26% of Deckers Outdoor worth $62,825,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Solstein Capital LLC raised its position in shares of Deckers Outdoor by 500.0% during the 3rd quarter. Solstein Capital LLC now owns 162 shares of the textile maker’s stock valued at $26,000 after buying an additional 135 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Deckers Outdoor by 460.0% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 28 shares of the textile maker’s stock valued at $27,000 after purchasing an additional 23 shares during the last quarter. Bell Investment Advisors Inc boosted its holdings in shares of Deckers Outdoor by 521.4% in the 3rd quarter. Bell Investment Advisors Inc now owns 174 shares of the textile maker’s stock worth $28,000 after purchasing an additional 146 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA increased its position in shares of Deckers Outdoor by 2,000.0% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 210 shares of the textile maker’s stock valued at $32,000 after purchasing an additional 200 shares during the last quarter. Finally, Crewe Advisors LLC purchased a new stake in Deckers Outdoor during the 2nd quarter valued at $34,000. Institutional investors own 97.79% of the company’s stock.

Deckers Outdoor Stock Performance

NYSE:DECK opened at $211.13 on Tuesday. The firm has a 50-day simple moving average of $176.88 and a 200-day simple moving average of $93.07. Deckers Outdoor Co. has a one year low of $108.65 and a one year high of $213.03. The firm has a market cap of $32.08 billion, a P/E ratio of 37.11, a P/E/G ratio of 2.87 and a beta of 1.08.

Deckers Outdoor (NYSE:DECK) last posted its earnings results on Thursday, October 24th. The textile maker reported $1.59 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.35. Deckers Outdoor had a return on equity of 41.48% and a net margin of 18.95%. The company had revenue of $1.31 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter in the prior year, the business earned $1.14 earnings per share. Deckers Outdoor’s revenue was up 20.1% on a year-over-year basis. On average, research analysts predict that Deckers Outdoor Co. will post 5.49 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. TD Cowen lifted their price objective on shares of Deckers Outdoor from $178.00 to $185.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. Guggenheim initiated coverage on shares of Deckers Outdoor in a report on Wednesday, October 9th. They set a “neutral” rating on the stock. Bank of America raised their price objective on shares of Deckers Outdoor from $170.00 to $182.00 and gave the stock a “neutral” rating in a research note on Friday, October 25th. StockNews.com cut Deckers Outdoor from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 25th. Finally, Needham & Company LLC raised their price target on Deckers Outdoor from $218.00 to $226.00 and gave the stock a “buy” rating in a research note on Thursday, December 5th. Nine equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $158.59.

Insider Activity at Deckers Outdoor

In related news, Director Maha Saleh Ibrahim sold 300 shares of the stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $200.80, for a total transaction of $60,240.00. Following the completion of the sale, the director now owns 10,222 shares of the company’s stock, valued at $2,052,577.60. This represents a 2.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Angela Ogbechie sold 1,278 shares of Deckers Outdoor stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $163.24, for a total transaction of $208,620.72. Following the completion of the transaction, the insider now directly owns 29,628 shares in the company, valued at $4,836,474.72. This represents a 4.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 84,234 shares of company stock valued at $15,248,513 over the last quarter. 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.