Penobscot Investment Management Company Inc. Purchases 1,300 Shares of Deckers Outdoor Co. (NYSE:DECK)

Penobscot Investment Management Company Inc. boosted its position in shares of Deckers Outdoor Co. (NYSE:DECK) by 56.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,605 shares of the textile maker’s stock after acquiring an additional 1,300 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Deckers Outdoor were worth $2,410,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Morgan Stanley increased its position in Deckers Outdoor by 82.6% during the third quarter. Morgan Stanley now owns 1,166,394 shares of the textile maker’s stock worth $599,633,000 after acquiring an additional 527,546 shares during the period. Invesco Ltd. increased its position in Deckers Outdoor by 8.9% during the third quarter. Invesco Ltd. now owns 456,957 shares of the textile maker’s stock worth $234,917,000 after acquiring an additional 37,194 shares during the period. Northern Trust Corp grew its stake in Deckers Outdoor by 2.6% during the third quarter. Northern Trust Corp now owns 231,535 shares of the textile maker’s stock worth $119,030,000 after buying an additional 5,972 shares in the last quarter. Artisan Partners Limited Partnership acquired a new stake in Deckers Outdoor during the third quarter worth about $72,727,000. Finally, Ameriprise Financial Inc. grew its stake in Deckers Outdoor by 12.3% during the third quarter. Ameriprise Financial Inc. now owns 141,402 shares of the textile maker’s stock worth $72,694,000 after buying an additional 15,541 shares in the last quarter. 97.79% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO David Powers sold 5,993 shares of the stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $862.53, for a total transaction of $5,169,142.29. Following the completion of the sale, the chief executive officer now owns 98,218 shares of the company’s stock, valued at $84,715,971.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, 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 value 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 approximately $24,733,320.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO David Powers sold 5,993 shares of Deckers Outdoor stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $862.53, for a total value of $5,169,142.29. Following the completion of the sale, the chief executive officer now owns 98,218 shares of the company’s stock, valued at $84,715,971.54. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,464 shares of company stock valued at $26,229,683. 0.70% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Stifel Nicolaus increased their price objective on shares of Deckers Outdoor from $709.00 to $775.00 and gave the stock a “hold” rating in a research note on Friday, February 2nd. Wedbush restated an “outperform” rating and issued a $1,000.00 price target on shares of Deckers Outdoor in a research note on Wednesday, April 10th. Barclays assumed coverage on shares of Deckers Outdoor in a research note on Monday, April 1st. They issued an “overweight” rating and a $1,110.00 price target on the stock. Evercore ISI started coverage on shares of Deckers Outdoor in a research note on Thursday, February 15th. They issued an “outperform” rating and a $960.00 price target on the stock. Finally, Wells Fargo & Company lifted their target price on shares of Deckers Outdoor from $625.00 to $775.00 and gave the stock an “equal weight” rating in a research report on Friday, February 2nd. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $889.00.

Deckers Outdoor Stock Performance

DECK traded down $14.28 during midday trading on Tuesday, hitting $818.15. The stock had a trading volume of 87,582 shares, compared to its average volume of 423,151. The company has a market cap of $21.00 billion, a P/E ratio of 29.52, a price-to-earnings-growth ratio of 1.48 and a beta of 1.01. The business has a fifty day moving average of $881.65 and a 200 day moving average of $752.31. Deckers Outdoor Co. has a 1 year low of $424.36 and a 1 year high of $956.17.

Deckers Outdoor (NYSE:DECK) last released its quarterly earnings data 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. The firm had revenue of $1.56 billion during the quarter, compared to analyst estimates of $1.45 billion. Deckers Outdoor had a return on equity of 38.77% and a net margin of 17.57%. The business’s quarterly revenue was up 16.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $10.48 earnings per share. On average, equities research analysts anticipate that Deckers Outdoor Co. will post 26.89 earnings per share for the current year.

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