Toronto Dominion Bank Increases Position in Deckers Outdoor Co. (NYSE:DECK)

Toronto Dominion Bank increased its holdings in shares of Deckers Outdoor Co. (NYSE:DECK - Free Report) by 31.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 71,544 shares of the textile maker's stock after acquiring an additional 17,002 shares during the period. Toronto Dominion Bank's holdings in Deckers Outdoor were worth $14,530,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. Resonant Capital Advisors LLC grew its position in shares of Deckers Outdoor by 2.2% during the 4th quarter. Resonant Capital Advisors LLC now owns 2,408 shares of the textile maker's stock valued at $489,000 after acquiring an additional 52 shares during the period. Bleakley Financial Group LLC grew its position in shares of Deckers Outdoor by 3.9% during the 4th quarter. Bleakley Financial Group LLC now owns 1,444 shares of the textile maker's stock valued at $293,000 after acquiring an additional 54 shares during the period. Mather Group LLC. grew 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 acquiring an additional 64 shares during the period. Prosperity Wealth Management Inc. lifted its stake in Deckers Outdoor by 2.8% in 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% during 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 and hedge funds.

Deckers Outdoor Stock Down 1.6%

NYSE DECK traded down $1.70 on Friday, reaching $105.57. The stock had a trading volume of 4,410,632 shares, compared to its average volume of 2,554,723. The firm has a market capitalization of $16.02 billion, a price-to-earnings ratio of 17.11, a P/E/G ratio of 1.68 and a beta of 1.11. Deckers Outdoor Co. has a 12-month low of $93.72 and a 12-month high of $223.98. The stock has a fifty day moving average price of $113.07 and a two-hundred day moving average price of $155.45.

Deckers Outdoor (NYSE:DECK - Get Free Report) last posted its quarterly earnings results on Thursday, May 22nd. The textile maker reported $1.00 EPS for the quarter, topping the consensus estimate of $0.57 by $0.43. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Deckers Outdoor had a net margin of 19.14% and a return on equity of 41.71%. The company's quarterly revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.82 earnings per share. Sell-side analysts forecast that Deckers Outdoor Co. will post 5.89 earnings per share for the current fiscal year.

Deckers Outdoor declared that its board has initiated a stock repurchase plan on Thursday, May 22nd that authorizes the company to repurchase $2.25 billion in shares. This repurchase authorization authorizes the textile maker to reacquire up to 11.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Maha Saleh Ibrahim sold 300 shares of the business's stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $134.48, for a total transaction of $40,344.00. Following the completion of the transaction, the director now owns 10,388 shares in the company, valued at approximately $1,396,978.24. The trade was a 2.81% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.40% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on DECK shares. Piper Sandler cut their price objective on Deckers Outdoor from $210.00 to $100.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Telsey Advisory Group cut Deckers Outdoor from an "outperform" rating to a "market perform" rating in a research report on Friday, May 23rd. KeyCorp reiterated a "sector weight" rating and set a $150.00 price target on shares of Deckers Outdoor in a research report on Friday, May 23rd. TD Securities increased their target price on shares of Deckers Outdoor from $150.00 to $175.00 and gave the company a "buy" rating in a research report on Tuesday, May 20th. Finally, Evercore ISI reissued an "in-line" rating and issued a $110.00 price target (down from $235.00) on shares of Deckers Outdoor in a research note on Friday, May 23rd. Thirteen research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $134.68.

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