Frontier Capital Management Co. LLC Decreases Holdings in Deckers Outdoor Corporation (DECK)
Frontier Capital Management Co. LLC trimmed its position in Deckers Outdoor Corporation (NYSE:DECK) by 4.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 431,541 shares of the textile maker’s stock after selling 19,096 shares during the quarter. Frontier Capital Management Co. LLC’s holdings in Deckers Outdoor were worth $34,631,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of DECK. Tremblant Capital Group acquired a new position in Deckers Outdoor in the 3rd quarter valued at $18,638,000. Bank of New York Mellon Corp grew its holdings in Deckers Outdoor by 21.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,105,440 shares of the textile maker’s stock valued at $75,623,000 after buying an additional 195,164 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in Deckers Outdoor by 264.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 265,436 shares of the textile maker’s stock valued at $17,823,000 after buying an additional 192,617 shares in the last quarter. American Century Companies Inc. acquired a new position in Deckers Outdoor in the 3rd quarter valued at $12,054,000. Finally, Dimensional Fund Advisors LP grew its holdings in Deckers Outdoor by 7.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,546,161 shares of the textile maker’s stock valued at $173,801,000 after buying an additional 174,844 shares in the last quarter.
Shares of Deckers Outdoor Corporation (NYSE DECK) opened at $85.39 on Friday. The stock has a market capitalization of $2,729.15, a price-to-earnings ratio of 19.06, a PEG ratio of 1.79 and a beta of 1.26. Deckers Outdoor Corporation has a 1-year low of $44.00 and a 1-year high of $85.74. 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 quarterly earnings data on Thursday, October 26th. The textile maker reported $1.54 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.52. Deckers Outdoor had a return on equity of 15.23% and a net margin of 1.80%. The business had revenue of $482.50 million during the quarter, compared to the consensus estimate of $440.11 million. During the same period in the prior year, the company earned $1.21 EPS. Deckers Outdoor’s revenue for the quarter was down .7% on a year-over-year basis. research analysts anticipate that Deckers Outdoor Corporation will post 4.37 earnings per share for the current year.
Deckers Outdoor announced that its Board of Directors has authorized a stock repurchase program on Thursday, October 26th that allows the company to buyback $335.00 million in shares. This buyback authorization allows the textile maker to purchase shares of its stock through open market purchases. Stock buyback programs are often an indication that the company’s leadership believes its shares are undervalued.
A number of research analysts have commented on the company. Susquehanna Bancshares reaffirmed a “negative” rating and issued a $40.00 price objective (down from $57.00) on shares of Deckers Outdoor in a report on Monday, October 16th. BidaskClub raised Deckers Outdoor from a “hold” rating to a “buy” rating in a report on Tuesday, October 3rd. Morgan Stanley increased 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. Stifel Nicolaus set a $85.00 target price on Deckers Outdoor and gave the stock a “buy” rating in a report on Saturday, December 16th. Finally, Wedbush reissued a “neutral” rating and set a $72.00 target price (up from $64.00) on shares of Deckers Outdoor in a report on Tuesday, December 19th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the company. Deckers Outdoor has a consensus rating of “Hold” and an average price target of $72.31.
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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