Deckers Outdoor (DECK), the shoemaker behind Hoka sneakers and Ugg boots, has announced a six-for-one stock split.
The shares are expected to begin trading on a split adjusted basis September 9 following approval by shareholders at the company’s annual meeting.
If approved in a vote by shareholders, this will be the second stock split executed by Deckers Outdoor. The company previously split its stock on a three-for-one basis in 2010.
The latest stock split comes as Deckers Outdoor’s stock has risen 64% over the last 12 months and 415% in the past five years, propelled higher by strong sales of its footwear products that also include Teva sandals.
Deckers Outdoor’s stock is currently trading right around $900 U.S. a share. The six-for-one stock split will lower the share price to $150 U.S. based on the current price.
Deckers is the latest in a string of companies to split its stock this year with the market hovering near all-time highs.
In recent months, Walmart (WMT), Nvidia (NVDA), Chipotle Mexican Grill (CMG), and Williams-Sonoma (WSM) have each announced stock splits.
Microchip company Broadcom’s (AVGO) stock begins trading on a split adjusted basis today (July 15) after that company executed a 10-for-1 split that lowered its share price to $170 U.S.
