Eagle Asset Management Inc. purchased a new position in shares of Deckers Outdoor Corporation (NYSE:DECK) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 123,889 shares of the textile maker’s stock, valued at approximately $8,548,000. Eagle Asset Management Inc. owned approximately 0.39% of Deckers Outdoor at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in Deckers Outdoor by 0.7% in the second quarter. Vanguard Group Inc. now owns 2,622,377 shares of the textile maker’s stock worth $179,002,000 after acquiring an additional 19,287 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Deckers Outdoor by 7.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,546,161 shares of the textile maker’s stock worth $173,801,000 after buying an additional 174,844 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Deckers Outdoor by 21.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,105,440 shares of the textile maker’s stock worth $75,623,000 after buying an additional 195,164 shares during the period. State Street Corp boosted its holdings in shares of Deckers Outdoor by 3.6% during the 2nd quarter. State Street Corp now owns 1,039,579 shares of the textile maker’s stock worth $70,962,000 after buying an additional 36,356 shares during the period. Finally, Northern Trust Corp boosted its holdings in shares of Deckers Outdoor by 0.6% during the 2nd quarter. Northern Trust Corp now owns 771,076 shares of the textile maker’s stock worth $52,634,000 after buying an additional 4,584 shares during the period. Institutional investors and hedge funds own 99.57% of the company’s stock.
Deckers Outdoor Corporation (DECK) opened at $77.04 on Tuesday. The company has a market cap of $2,484.04, a price-to-earnings ratio of 17.35, a price-to-earnings-growth ratio of 1.70 and a beta of 1.26. Deckers Outdoor Corporation has a 52-week low of $44.00 and a 52-week high of $78.38. The company has a current ratio of 2.43, a quick ratio of 1.26 and a debt-to-equity ratio of 0.03.
Deckers Outdoor (NYSE:DECK) last announced its earnings results on Thursday, October 26th. The textile maker reported $1.54 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.52. The company had revenue of $482.50 million during the quarter, compared to analysts’ expectations of $440.11 million. Deckers Outdoor had a net margin of 1.80% and a return on equity of 15.23%. Deckers Outdoor’s quarterly revenue was down .7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.21 earnings per share. equities analysts predict that Deckers Outdoor Corporation will post 4.27 EPS for the current year.
Deckers Outdoor declared that its board has approved a share buyback plan on Thursday, October 26th that authorizes the company to repurchase $335.00 million in shares. This repurchase authorization authorizes the textile maker to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.
DECK has been the subject of several research analyst reports. BidaskClub cut shares of Deckers Outdoor from a “buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Morgan Stanley increased their price objective on shares of Deckers Outdoor from $64.50 to $70.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 31st. Jefferies Group set a $82.00 price objective on shares of Deckers Outdoor and gave the company a “buy” rating in a research note on Sunday, October 29th. Buckingham Research set a $68.00 target price on shares of Deckers Outdoor and gave the stock a “hold” rating in a research report on Friday, October 27th. Finally, Citigroup increased their target price on shares of Deckers Outdoor from $70.00 to $74.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and eight have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $69.77.
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About Deckers Outdoor
Deckers Outdoor Corporation is engaged in designing, marketing and distributing footwear, apparel and accessories for both everyday casual lifestyle use and high performance activities. The Company’s segments include operations of its brands, such as UGG, Teva, Sanuk and other brands; wholesale divisions, and Direct-to-Consumer (DTC) business, which includes E-Commerce business and retail store business.
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