First Mercantile Trust Co. purchased a new position in Deckers Outdoor Corp (NYSE:DECK) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 2,360 shares of the textile maker’s stock, valued at approximately $189,000.
A number of other large investors have also recently bought and sold shares of the stock. American Century Companies Inc. boosted its stake in Deckers Outdoor by 360.2% in the fourth quarter. American Century Companies Inc. now owns 810,815 shares of the textile maker’s stock valued at $65,068,000 after acquiring an additional 634,610 shares during the period. Engineers Gate Manager LP acquired a new position in Deckers Outdoor in the fourth quarter valued at approximately $5,245,000. LSV Asset Management boosted its stake in Deckers Outdoor by 45.9% in the fourth quarter. LSV Asset Management now owns 287,315 shares of the textile maker’s stock valued at $23,057,000 after acquiring an additional 90,450 shares during the period. Mutual of America Capital Management LLC boosted its stake in Deckers Outdoor by 5.2% in the fourth quarter. Mutual of America Capital Management LLC now owns 26,488 shares of the textile maker’s stock valued at $2,126,000 after acquiring an additional 1,315 shares during the period. Finally, Chicago Equity Partners LLC acquired a new position in Deckers Outdoor in the fourth quarter valued at approximately $2,525,000. Institutional investors and hedge funds own 99.56% of the company’s stock.
Deckers Outdoor Corp (NYSE DECK) opened at $95.50 on Thursday. The stock has a market capitalization of $2,995.87, a price-to-earnings ratio of 17.66, a price-to-earnings-growth ratio of 1.50 and a beta of 1.32. Deckers Outdoor Corp has a twelve month low of $51.77 and a twelve month high of $98.62. The company has a debt-to-equity ratio of 0.03, a current ratio of 3.25 and a quick ratio of 2.16.
Deckers Outdoor announced that its Board of Directors has initiated a stock repurchase plan on Thursday, October 26th that permits the company to buyback $335.00 million in outstanding shares. This buyback authorization permits the textile maker to repurchase shares of its stock through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
In other Deckers Outdoor news, COO David E. Lafitte sold 863 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $92.97, for a total transaction of $80,233.11. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Andrea O’donnell sold 2,220 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $93.90, for a total transaction of $208,458.00. Following the sale, the insider now directly owns 17,793 shares in the company, valued at $1,670,762.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,168 shares of company stock worth $1,341,189. Company insiders own 1.90% of the company’s stock.
Several brokerages have recently issued reports on DECK. ValuEngine upgraded Deckers Outdoor from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Stifel Nicolaus boosted their price objective on Deckers Outdoor from $93.00 to $107.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Canaccord Genuity reiterated a “buy” rating and set a $100.00 price objective (up from $78.00) on shares of Deckers Outdoor in a research report on Monday, January 29th. Wedbush reiterated a “neutral” rating and set a $72.00 price objective (up from $64.00) on shares of Deckers Outdoor in a research report on Tuesday, December 19th. They noted that the move was a valuation call. Finally, Morgan Stanley boosted their target price on Deckers Outdoor from $64.50 to $70.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 31st. One research analyst has rated the stock with a sell rating, nine have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $87.43.
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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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