Cornercap Investment Counsel Inc. Acquires New Position in Deckers Outdoor Co. (NYSE:DECK)

Cornercap Investment Counsel Inc. bought a new position in shares of Deckers Outdoor Co. (NYSE:DECK) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 320 shares of the textile maker’s stock, valued at approximately $214,000.

Several other large investors have also recently modified their holdings of the business. Morgan Stanley grew its holdings in Deckers Outdoor by 82.6% during the 3rd quarter. Morgan Stanley now owns 1,166,394 shares of the textile maker’s stock valued at $599,633,000 after buying an additional 527,546 shares in the last quarter. Norges Bank bought a new stake in shares of Deckers Outdoor during the 4th quarter worth $94,813,000. Alliancebernstein L.P. lifted its holdings in shares of Deckers Outdoor by 205.2% during the 2nd quarter. Alliancebernstein L.P. now owns 255,823 shares of the textile maker’s stock worth $134,988,000 after acquiring an additional 171,999 shares during the last quarter. Goldman Sachs Group Inc. grew its position in Deckers Outdoor by 83.1% in the second quarter. Goldman Sachs Group Inc. now owns 362,863 shares of the textile maker’s stock worth $92,657,000 after acquiring an additional 164,730 shares in the last quarter. Finally, Artisan Partners Limited Partnership bought a new position in Deckers Outdoor in the third quarter valued at $72,727,000. Hedge funds and other institutional investors own 97.79% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on DECK. Evercore ISI initiated coverage on Deckers Outdoor in a research report on Thursday, February 15th. They set an “outperform” rating and a $960.00 price objective on the stock. Raymond James increased their price target on shares of Deckers Outdoor from $585.00 to $845.00 and gave the company an “outperform” rating in a research report on Tuesday, January 30th. Truist Financial restated a “hold” rating and issued a $864.00 price objective (down from $983.00) on shares of Deckers Outdoor in a report on Wednesday, April 10th. Wells Fargo & Company increased their target price on shares of Deckers Outdoor from $625.00 to $775.00 and gave the company an “equal weight” rating in a report on Friday, February 2nd. Finally, Wedbush reissued an “outperform” rating and issued a $1,000.00 price target on shares of Deckers Outdoor in a research note on Wednesday, April 10th. Six investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $870.93.

Insider Activity at Deckers Outdoor

In other Deckers Outdoor news, CFO Steven J. Fasching sold 5,000 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $844.40, for a total transaction of $4,222,000.00. Following the completion of the transaction, the chief financial officer now owns 29,291 shares of the company’s stock, valued at $24,733,320.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Angela Ogbechie sold 313 shares of the company’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $844.13, for a total value of $264,212.69. Following the transaction, the insider now owns 4,027 shares in the company, valued at approximately $3,399,311.51. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Steven J. Fasching sold 5,000 shares of Deckers Outdoor stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $844.40, for a total transaction of $4,222,000.00. Following the completion of the transaction, the chief financial officer now directly owns 29,291 shares of the company’s stock, valued at $24,733,320.40. The disclosure for this sale can be found here. Insiders have sold 30,464 shares of company stock worth $26,229,683 over the last ninety days. 0.70% of the stock is owned by corporate insiders.

Deckers Outdoor Stock Up 0.6 %

Shares of DECK stock opened at $818.38 on Thursday. The firm has a market capitalization of $21.01 billion, a price-to-earnings ratio of 29.44, a PEG ratio of 1.45 and a beta of 1.01. The stock has a fifty day moving average of $886.18 and a 200 day moving average of $732.82. Deckers Outdoor Co. has a 52 week low of $424.36 and a 52 week high of $956.17.

Deckers Outdoor (NYSE:DECK) last announced its earnings results on Thursday, February 1st. The textile maker reported $15.11 earnings per share for the quarter, beating analysts’ consensus estimates of $11.40 by $3.71. Deckers Outdoor had a net margin of 17.57% and a return on equity of 38.77%. The firm had revenue of $1.56 billion for the quarter, compared to analyst estimates of $1.45 billion. During the same quarter in the previous year, the firm posted $10.48 EPS. The company’s revenue for the quarter was up 16.0% compared to the same quarter last year. Equities research analysts anticipate that Deckers Outdoor Co. will post 26.87 earnings per share for the current year.

About Deckers Outdoor

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 and apparel for ultra-runners and athletes under the Hoka brand; and sandals, shoes, and boots under the Teva brand name.