Franklin Resources Inc. Buys 11,614 Shares of Deckers Outdoor Co. (NYSE:DECK)

Franklin Resources Inc. boosted its stake in shares of Deckers Outdoor Co. (NYSE:DECK) by 23.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 61,043 shares of the textile maker’s stock after buying an additional 11,614 shares during the period. Franklin Resources Inc. owned approximately 0.24% of Deckers Outdoor worth $40,803,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. M&T Bank Corp increased its holdings in shares of Deckers Outdoor by 11.0% during the third quarter. M&T Bank Corp now owns 990 shares of the textile maker’s stock valued at $509,000 after acquiring an additional 98 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in Deckers Outdoor by 65.7% in the third quarter. Nomura Asset Management Co. Ltd. now owns 10,570 shares of the textile maker’s stock worth $5,434,000 after buying an additional 4,190 shares during the last quarter. Corient Private Wealth LLC lifted its stake in shares of Deckers Outdoor by 0.8% in the third quarter. Corient Private Wealth LLC now owns 14,568 shares of the textile maker’s stock worth $7,489,000 after buying an additional 113 shares in the last quarter. NBC Securities Inc. purchased a new stake in shares of Deckers Outdoor during the third quarter valued at approximately $188,000. Finally, Ieq Capital LLC increased its position in shares of Deckers Outdoor by 3.3% during the third quarter. Ieq Capital LLC now owns 1,020 shares of the textile maker’s stock valued at $524,000 after acquiring an additional 33 shares in the last quarter. Hedge funds and other institutional investors own 97.79% of the company’s stock.

Insiders Place Their Bets

In other news, CEO David Powers sold 5,993 shares of Deckers Outdoor stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $824.11, for a total value of $4,938,891.23. Following the sale, the chief executive officer now directly owns 98,218 shares of the company’s stock, valued at $80,942,435.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.70% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on DECK. Evercore ISI increased their target price on Deckers Outdoor from $960.00 to $1,110.00 and gave the company an “outperform” rating in a research note on Friday. Wedbush lifted their price target on shares of Deckers Outdoor from $1,000.00 to $1,030.00 and gave the stock an “outperform” rating in a research note on Friday. Truist Financial increased their price objective on shares of Deckers Outdoor from $864.00 to $1,011.00 and gave the company a “hold” rating in a research report on Friday. UBS Group raised their target price on shares of Deckers Outdoor from $1,150.00 to $1,265.00 and gave the stock a “buy” rating in a report on Friday. Finally, Bank of America increased their price target on Deckers Outdoor from $860.00 to $1,020.00 and gave the company a “neutral” rating in a report on Friday. Seven investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Deckers Outdoor presently has a consensus rating of “Moderate Buy” and an average price target of $999.44.

Deckers Outdoor Trading Up 14.2 %

NYSE:DECK opened at $1,032.90 on Friday. The stock has a 50-day moving average price of $873.78 and a 200 day moving average price of $795.18. The stock has a market capitalization of $26.51 billion, a P/E ratio of 35.26, a P/E/G ratio of 1.83 and a beta of 1.05. Deckers Outdoor Co. has a 12-month low of $424.36 and a 12-month high of $1,036.98.

Deckers Outdoor (NYSE:DECK) last announced its quarterly earnings data on Thursday, May 23rd. The textile maker reported $4.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.82 by $2.13. Deckers Outdoor had a net margin of 17.69% and a return on equity of 39.90%. The business had revenue of $959.76 million during the quarter, compared to analyst estimates of $892.00 million. During the same period last year, the firm posted $3.46 EPS. The company’s revenue was up 21.2% on a year-over-year basis. On average, research analysts predict that Deckers Outdoor Co. will post 30.39 earnings per share for the current fiscal year.

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