Franklin Resources Inc., a prominent institutional investor, has reduced its stake in Deckers Outdoor Co. by 1.2% during the first quarter of this year, according to its recent filing with the Securities and Exchange Commission (SEC). The company now holds 153,376 shares of Deckers Outdoor’s stock, after selling 1883 shares in the said period. Despite the decrease in its stake, Franklin Resources Inc. still owned approximately 0.58% of the textile maker’s worth, valuing at $68,950,000 by the end of the quarter.
Deckers Outdoor Corporation is a renowned company that specializes in designing, marketing, and distributing footwear, apparel, and accessories for both casual lifestyle use and high-performance activities worldwide. With a presence both within the United States and internationally, the company offers premium products under various well-established brand names.
One of their most prominent brands is UGG, which features high-quality footwear, apparel, and accessories catering to a wide range of customers seeking comfort and style. Additionally, Deckers Outdoor also owns Hoka; an exclusive line that serves ultra-runners and athletes with technologically advanced footwear and apparel designed to enhance performance levels.
Moreover, Deckers Outdoor operates under yet another successful brand name called Teva. This includes a selection of stylish sandals along with shoes and boots designed to cater to outdoor enthusiasts seeking durability without compromising on fashion.
As an institutional investor making strategic decisions about their investment portfolio annually or even quarterly filings with regulatory bodies such as SEC provide insight into companies’ ownership stakes held by these influential entities operating in capital markets.
Although Franklin Resources Inc. has reduced its stake slightly in Deckers Outdoor Co., it is evident that they still maintain a significant interest in the company’s growth potential.
Investors are always keenly observant regarding any changes made by institutional investors like Franklin Resources Inc., as it provides vital information about industry trends and market sentiments surrounding specific companies or sectors, allowing other investors to make informed decisions based on the movements of these significant players in the market.
While it is essential to note that Franklin Resources Inc.’s decision to reduce its stake does not inherently signify a negative outlook on Deckers Outdoor Co., such activities can often be influenced by various factors, including market conditions, financial performance, and investment strategies unique to each institution.
Investors and stakeholders alike will undoubtedly follow any future developments concerning Franklin Resources Inc.’s position in Deckers Outdoor Co. With the rapidly changing dynamics of the global market, industry watchers will be interested in observing how Deckers Outdoor navigates these changes and continues to thrive in its niche.
Updated on: 03/12/2023
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
We did not find social sentiment data for this stock
|Analyst / firm||Rating|
|Cowen & Co.||Buy|
Deckers Outdoor Co. Attracts Institutional Investors and Receives Positive Ratings from Research Firms
In recent news, it has been reported that several hedge funds and institutional investors have either increased or decreased their stakes in Deckers Outdoor stock. HighTower Advisors LLC, for instance, raised its holdings in the textile maker’s stock by 13.7% during the first quarter, acquiring an additional 398 shares. This now brings their total holdings to 3,294 shares worth $902,000. Great West Life Assurance Co. Can also raised their holdings in Deckers Outdoor by 7.1%, purchasing an additional 1,001 shares during the same period. Their current stake amounts to 15,156 shares valued at $4,272,000.
Another notable investor is Vontobel Holding Ltd., which acquired a new position in Deckers Outdoor with a value of $882,000. Sei Investments Co. significantly increased their holdings by 53.1% by purchasing an additional 12,439 shares during the first quarter, bringing their total to 35,845 shares worth $9.811 million. Finally, Aviva PLC raised its holdings by 24.9%, adding an extra 1,597 shares valued at $2.196 million.
Remarkably, institutional investors and hedge funds account for approximately 95.69% ownership of the stock.
Several research firms have commented on DECK as well. StockNews.com issued a “hold” rating on Deckers Outdoor following their coverage of the stock on August 17th. Robert W. Baird expressed optimism towards the company’s performance and upped its price target from $575 to $620 with an “outperform” rating.
Citigroup also shared positive sentiments about Deckers Outdoor and increased its price target from $515 to $665 with a “buy” rating in a research report published on July 21st.
Wells Fargo & Company joined in bullish projections and raised the price target from $425 to $480. Similarly, BTIG Research increased the target from $613 to $640 and gave the stock a “buy” rating in a research report released on July 28th.
With two analysts labeling the stock as ‘hold’ and twelve issuing a ‘buy’ rating, Bloomberg data shows that Deckers Outdoor currently has an average price target of $577.64, giving it a consensus rating of “Moderate Buy.”
As of September 8, 2023, DECK stock opened at $523.71. The stock’s 50-day simple moving average stands at $542.05, while its 200-day simple moving average is recorded at $490.44.
Deckers Outdoor Co., listed under NYSE as DECK, has seen both highs and lows within the past year. Its fifty-two-week low was recorded at $298.61, while its fifty-two-week high reached the mark of $568.47.
The company’s market cap currently sits at an impressive $13.69 billion with a desirable P/E ratio of 25.99 and a price-to-earnings-growth ratio of 1.32. Furthermore, Deckers Outdoor boasts a beta value of 0.92.
Deckers Outdoor recently posted its quarterly earnings results on July 27th. During this period, the textile maker reported earnings per share (EPS) of $2.41 for the quarter, exceeding analysts’ consensus estimates by $0.25.
Additionally, Deckers Outdoor showcased remarkable performance in terms of return on equity (ROE) with an impressive figure of 30.85%. The company’s net margin stands at 14.33%.
Revenue for the quarter amounted to an impressive $675.79 million compared to the consensus estimate of $666.95 million, reflecting a growth rate of 10% year-over-year.
Given these positive indicators and projections by equities analysts, it is predicted that Deckers Outdoor Co. will post an earnings per share of 22.4 for the current year.
Overall, Deckers Outdoor has garnered significant attention from investors and research firms alike due to its robust performance and positive outlook, as evidenced by the high degree of interest from institutional investors and the bullish ratings from research analysts. It remains a stock worth watching as it continues to make strides in the market.