Franklin Resources Inc. Reduces Stock Holdings in Deckers Outdoor Co. (NYSE:DECK)

Franklin Resources Inc. lessened its holdings in shares of Deckers Outdoor Co. (NYSE:DECK) by 18.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 319,224 shares of the textile maker’s stock after selling 71,650 shares during the period. Franklin Resources Inc.’s holdings in Deckers Outdoor were worth $64,831,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Public Sector Pension Investment Board raised its stake in shares of Deckers Outdoor by 605.5% during the 3rd quarter. Public Sector Pension Investment Board now owns 6,688 shares of the textile maker’s stock valued at $1,066,000 after buying an additional 5,740 shares during the last quarter. Captrust Financial Advisors boosted its stake in shares of Deckers Outdoor by 431.6% in the third quarter. Captrust Financial Advisors now owns 7,362 shares of the textile maker’s stock worth $1,174,000 after buying an additional 5,977 shares during the last quarter. Edgestream Partners L.P. grew its holdings in Deckers Outdoor by 1,857.7% during the third quarter. Edgestream Partners L.P. now owns 6,617 shares of the textile maker’s stock worth $1,055,000 after acquiring an additional 6,279 shares during the period. Benjamin Edwards Inc. raised its position in Deckers Outdoor by 32,965.2% during the third quarter. Benjamin Edwards Inc. now owns 7,605 shares of the textile maker’s stock valued at $1,213,000 after acquiring an additional 7,582 shares in the last quarter. Finally, Hilltop Holdings Inc. acquired a new position in Deckers Outdoor in the third quarter valued at approximately $453,000. 97.79% of the stock is currently owned by institutional investors and hedge funds.

Deckers Outdoor Trading Down 14.4 %

DECK opened at $100.95 on Friday. The firm has a market capitalization of $15.32 billion, a PE ratio of 16.37, a PEG ratio of 1.68 and a beta of 1.10. Deckers Outdoor Co. has a twelve month low of $96.80 and a twelve month high of $223.98. The firm’s 50-day moving average price is $145.18 and its 200 day moving average price is $170.01.

Deckers Outdoor (NYSE:DECK) last posted its quarterly earnings results on Thursday, February 6th. The textile maker reported $3.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.44 by $0.56. Deckers Outdoor had a return on equity of 41.71% and a net margin of 19.14%. As a group, analysts predict that Deckers Outdoor Co. will post 5.89 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on DECK. KeyCorp raised their price objective on shares of Deckers Outdoor from $213.00 to $230.00 and gave the stock an “overweight” rating in a research note on Thursday, January 23rd. Truist Financial dropped their price target on shares of Deckers Outdoor from $235.00 to $225.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Evercore ISI increased their target price on shares of Deckers Outdoor from $195.00 to $235.00 and gave the stock an “outperform” rating in a research note on Thursday, January 9th. Needham & Company LLC restated a “buy” rating and issued a $246.00 price target on shares of Deckers Outdoor in a research note on Friday, January 31st. Finally, Stifel Nicolaus increased their price target on Deckers Outdoor from $181.00 to $185.00 and gave the stock a “hold” rating in a research report on Friday, January 31st. Nine analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $197.41.

Insiders Place Their Bets

In related news, Director Maha Saleh Ibrahim sold 300 shares of the company’s stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $134.48, for a total value of $40,344.00. Following the transaction, the director now directly owns 10,388 shares in the company, valued at approximately $1,396,978.24. This represents a 2.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director David Powers sold 25,000 shares of the firm’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $138.84, for a total value of $3,471,000.00. Following the sale, the director now directly owns 241,777 shares of the company’s stock, valued at approximately $33,568,318.68. This trade represents a 9.37 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company’s stock.

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.