Bank of Montreal Can Decreases Holdings in Deckers Outdoor Co. (NYSE:DECK)

Bank of Montreal Can lowered its stake in Deckers Outdoor Co. (NYSE:DECK – Get Rating) by 51.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 4,961 shares of the textile maker’s stock after selling 5,161 shares during the period. Bank of Montreal Can’s holdings in Deckers Outdoor were worth $1,683,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in DECK. Ronald Blue Trust Inc. grew its position in shares of Deckers Outdoor by 154.8% in the third quarter. Ronald Blue Trust Inc. now owns 158 shares of the textile maker’s stock valued at $41,000 after purchasing an additional 96 shares during the period. EverSource Wealth Advisors LLC purchased a new position in Deckers Outdoor during the third quarter worth about $59,000. Brown Brothers Harriman & Co. raised its stake in Deckers Outdoor by 28.9% during the second quarter. Brown Brothers Harriman & Co. now owns 254 shares of the textile maker’s stock worth $65,000 after purchasing an additional 57 shares during the period. Stephens Inc. AR purchased a new position in Deckers Outdoor during the third quarter worth about $98,000. Finally, Fifth Third Bancorp raised its stake in Deckers Outdoor by 7.7% during the third quarter. Fifth Third Bancorp now owns 407 shares of the textile maker’s stock worth $127,000 after purchasing an additional 29 shares during the period. Hedge funds and other institutional investors own 98.87% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on DECK shares. Cowen lifted their price objective on shares of Deckers Outdoor from $476.00 to $480.00 and gave the company an “outperform” rating in a report on Friday, February 3rd. Bank of America restated a “buy” rating and issued a $425.00 target price on shares of Deckers Outdoor in a report on Tuesday, November 1st. BTIG Research reiterated a “buy” rating and issued a $515.00 price target on shares of Deckers Outdoor in a research report on Tuesday, February 7th. Wells Fargo & Company upped their price target on shares of Deckers Outdoor from $360.00 to $425.00 and gave the company an “equal weight” rating in a research report on Friday, February 3rd. Finally, Telsey Advisory Group restated an “outperform” rating and set a $485.00 price objective on shares of Deckers Outdoor in a research report on Wednesday, February 15th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $447.77.

Deckers Outdoor Stock Performance

NYSE DECK opened at $416.35 on Wednesday. The firm has a market capitalization of $10.97 billion, a price-to-earnings ratio of 22.03, a PEG ratio of 1.19 and a beta of 0.89. The company’s 50 day moving average price is $408.59 and its 200 day moving average price is $369.45. Deckers Outdoor Co. has a one year low of $212.93 and a one year high of $433.30.

Deckers Outdoor (NYSE:DECK – Get Rating) last posted its quarterly earnings data on Thursday, February 2nd. The textile maker reported $10.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $9.41 by $1.07. The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.26 billion. Deckers Outdoor had a net margin of 13.83% and a return on equity of 31.38%. The business’s quarterly revenue was up 13.3% on a year-over-year basis. During the same quarter last year, the firm posted $8.42 earnings per share. Sell-side analysts forecast that Deckers Outdoor Co. will post 18.46 EPS for the current fiscal year.

Insider Activity

In other news, CEO David Powers sold 35,957 shares of Deckers Outdoor stock in a transaction that occurred on Tuesday, February 21st. The shares were sold at an average price of $400.87, for a total transaction of $14,414,082.59. Following the sale, the chief executive officer now owns 92,252 shares in the company, valued at $36,981,059.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Thomas Garcia sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, December 12th. The shares were sold at an average price of $376.36, for a total transaction of $752,720.00. Following the completion of the sale, the insider now owns 15,922 shares of the company’s stock, valued at $5,992,403.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David Powers sold 35,957 shares of the firm’s stock in a transaction that occurred on Tuesday, February 21st. The stock was sold at an average price of $400.87, for a total transaction of $14,414,082.59. Following the sale, the chief executive officer now directly owns 92,252 shares of the company’s stock, valued at approximately $36,981,059.24. The disclosure for this sale can be found here. Insiders have sold 46,006 shares of company stock worth $18,371,390 over the last 90 days. Company insiders own 0.80% of the company’s stock.

Deckers Outdoor Profile

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Deckers Outdoor Corp. engages in the business of designing, marketing, and distributing footwear, apparel, and accessories developed for both everyday casual lifestyle use and high performance activities. It operates through the following segments: UGG Brand, HOKA Brand, Teva Brand, Sanuk Brand, Other Brands, and Direct-to-Consumer.