Logan Capital Management Inc. Raises Holdings in Deckers Outdoor Co. (NYSE:DECK)

Logan Capital Management Inc. increased its position in Deckers Outdoor Co. (NYSE:DECK) by 494.1% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 112,519 shares of the textile maker’s stock after purchasing an additional 93,580 shares during the period. Logan Capital Management Inc.’s holdings in Deckers Outdoor were worth $17,941,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Retirement Systems of Alabama raised its position in Deckers Outdoor by 3,428.6% in the 3rd quarter. Retirement Systems of Alabama now owns 199,753 shares of the textile maker’s stock valued at $31,851,000 after purchasing an additional 194,092 shares during the last quarter. Oddo BHF Asset Management Sas purchased a new stake in shares of Deckers Outdoor in the third quarter valued at about $2,245,000. American Trust raised its holdings in shares of Deckers Outdoor by 566.7% in the third quarter. American Trust now owns 2,400 shares of the textile maker’s stock valued at $383,000 after buying an additional 2,040 shares during the last quarter. Franklin Resources Inc. grew its holdings in shares of Deckers Outdoor by 497.5% during the third quarter. Franklin Resources Inc. now owns 390,874 shares of the textile maker’s stock worth $62,825,000 after buying an additional 325,451 shares during the last quarter. Finally, Tidal Investments LLC increased its position in Deckers Outdoor by 3,540.6% in the 3rd quarter. Tidal Investments LLC now owns 151,812 shares of the textile maker’s stock valued at $24,206,000 after acquiring an additional 147,642 shares during the period. 97.79% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have weighed in on DECK. BTIG Research cut Deckers Outdoor from a “buy” rating to a “neutral” rating in a research report on Tuesday, October 22nd. UBS Group lifted their price objective on shares of Deckers Outdoor from $226.00 to $232.00 and gave the company a “buy” rating in a research report on Friday, October 25th. TD Cowen upped their price objective on shares of Deckers Outdoor from $178.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Wells Fargo & Company raised their target price on shares of Deckers Outdoor from $165.00 to $170.00 and gave the stock an “equal weight” rating in a research note on Friday, October 25th. Finally, Seaport Res Ptn lowered shares of Deckers Outdoor from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 7th. Nine equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $158.59.

Deckers Outdoor Stock Down 1.3 %

Shares of DECK stock opened at $203.09 on Wednesday. Deckers Outdoor Co. has a fifty-two week low of $108.65 and a fifty-two week high of $214.70. The business has a fifty day simple moving average of $188.24 and a 200-day simple moving average of $108.10. The stock has a market cap of $30.85 billion, a P/E ratio of 35.71, a P/E/G ratio of 2.87 and a beta of 1.08.

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

Insider Activity at Deckers Outdoor

In other Deckers Outdoor news, CEO Caroti Stefano sold 14,274 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $208.34, for a total transaction of $2,973,845.16. Following the sale, the chief executive officer now directly owns 259,266 shares of the company’s stock, valued at $54,015,478.44. This trade represents a 5.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Maha Saleh Ibrahim sold 300 shares of the business’s 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 transaction, the director now directly owns 10,222 shares of the company’s stock, valued at approximately $2,052,577.60. This represents a 2.85 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 84,234 shares of company stock valued at $15,248,513. 0.40% of the stock is owned by corporate insiders.

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.