Lord Abbett & CO. LLC Raises Stock Holdings in Deckers Outdoor Co. (NYSE:DECK)

Lord Abbett & CO. LLC grew its stake in shares of Deckers Outdoor Co. (NYSE:DECK) by 181.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 171,579 shares of the textile maker’s stock after buying an additional 110,685 shares during the period. Lord Abbett & CO. LLC’s holdings in Deckers Outdoor were worth $34,846,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Resonant Capital Advisors LLC raised its stake in Deckers Outdoor by 2.2% during the 4th quarter. Resonant Capital Advisors LLC now owns 2,408 shares of the textile maker’s stock worth $489,000 after acquiring an additional 52 shares during the period. Bleakley Financial Group LLC increased its stake in shares of Deckers Outdoor by 3.9% in the fourth quarter. Bleakley Financial Group LLC now owns 1,444 shares of the textile maker’s stock worth $293,000 after purchasing an additional 54 shares in the last quarter. Mather Group LLC. raised its position in shares of Deckers Outdoor by 2.6% during the 4th quarter. Mather Group LLC. now owns 2,567 shares of the textile maker’s stock valued at $521,000 after purchasing an additional 64 shares during the period. Prosperity Wealth Management Inc. lifted its stake in shares of Deckers Outdoor by 2.8% during the 4th quarter. Prosperity Wealth Management Inc. now owns 2,777 shares of the textile maker’s stock valued at $564,000 after buying an additional 75 shares in the last quarter. Finally, WD Rutherford LLC increased its stake in Deckers Outdoor by 4.8% in the 4th quarter. WD Rutherford LLC now owns 1,735 shares of the textile maker’s stock worth $352,000 after buying an additional 79 shares in the last quarter. 97.79% of the stock is currently owned by institutional investors.

Deckers Outdoor Trading Down 1.4 %

Shares of NYSE:DECK opened at $109.13 on Friday. The company has a market capitalization of $16.56 billion, a price-to-earnings ratio of 17.69, a PEG ratio of 1.68 and a beta of 1.07. Deckers Outdoor Co. has a 12 month low of $93.72 and a 12 month high of $223.98. The firm’s 50-day moving average is $119.43 and its 200 day moving average is $163.73.

Deckers Outdoor (NYSE:DECK) last issued its quarterly earnings results on Thursday, February 6th. The textile maker reported $3.00 earnings per share for the quarter, topping the consensus estimate 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, equities analysts forecast that Deckers Outdoor Co. will post 5.89 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on DECK. UBS Group boosted their price objective on Deckers Outdoor from $267.00 to $284.00 and gave the company a “buy” rating in a research report on Friday, January 31st. Jefferies Financial Group upped their price target on Deckers Outdoor from $180.00 to $200.00 and gave the stock a “hold” rating in a research note on Tuesday, January 28th. Piper Sandler reduced their price objective on shares of Deckers Outdoor from $210.00 to $100.00 and set a “neutral” rating on the stock in a research report on Friday, April 11th. Raymond James raised shares of Deckers Outdoor from an “outperform” rating to a “strong-buy” rating and cut their target price for the company from $235.00 to $150.00 in a research note on Thursday, April 10th. Finally, Bank of America boosted their price target on shares of Deckers Outdoor from $182.00 to $217.00 and gave the stock a “neutral” rating in a research note on Thursday, January 23rd. Nine research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $187.89.

Insider Activity

In related news, Director David Powers sold 25,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director now owns 241,777 shares in the company, valued at approximately $33,568,318.68. The trade was a 9.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Maha Saleh Ibrahim sold 300 shares of the firm’s stock in a transaction 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 owns 10,388 shares in the company, valued at $1,396,978.24. The trade was a 2.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.40% of the company’s stock.

Deckers Outdoor 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.