DekaBank Deutsche Girozentrale has decreased its holdings in Deckers Outdoor Corporation (NYSE: DECK) by 3.4%, now owning a stock position valued at approximately $1.07 million. This adjustment, revealed in the latest 13F filing with the U.S. Securities and Exchange Commission (SEC), leaves DekaBank with a total of 10,122 shares after selling 352 shares during the second quarter of 2023.
Several other institutional investors have also modified their positions in Deckers Outdoor recently. Vanguard Group Inc. increased its stake by 0.6%, now holding 17,747,418 shares valued at $1.98 billion following an acquisition of 107,635 shares. Northern Trust Corp raised its holdings by 6.2%, acquiring 98,856 shares to total 1,680,558 shares, worth $187.9 million. UBS Asset Management also boosted its position by 6.8%, while Caisse DE Depot ET Placement DU Quebec expanded its stake by a significant 46.5%. Amundi increased its holdings by 24.7%. Collectively, institutional and hedge fund investors own 97.79% of Deckers Outdoor’s stock.
Insider Transactions and Market Performance
In related news, Director Maha Saleh Ibrahim sold 300 shares on September 8, 2023, at an average price of $118.02, amounting to a total of $35,406. Following this sale, Ibrahim’s ownership decreased to 10,979 shares, valued at approximately $1.3 million. This transaction has been disclosed in an SEC filing.
Deckers Outdoor has experienced a 15% decline in stock value recently. In its latest quarterly earnings report issued on October 23, the company revealed earnings per share of $1.82, surpassing analysts’ expectations of $1.58 by $0.24. Revenue for the quarter reached $1.43 billion, slightly above the anticipated $1.41 billion. The company reported a return on equity of 40.54% and a net margin of 19.47%, with revenue showing a year-over-year increase of 9.1%.
Analyst Ratings and Future Guidance
For the fiscal year 2026, Deckers Outdoor has provided guidance of $6.30-$6.39 earnings per share. Analysts forecast the company to achieve approximately $5.89 earnings per share for the current year.
Brokerage firms have varied opinions on Deckers Outdoor. Zacks Research upgraded the stock from a “hold” to a “strong-buy” rating on October 10. Conversely, Goldman Sachs lowered its target price from $92.00 to $81.00 and maintained a “sell” rating. Citigroup adjusted its target price from $150.00 to $120.00 while rating the stock as a “buy.” Weiss Ratings reaffirmed a “hold” rating, while Bank of America increased its target price from $120.00 to $122.00 with a “neutral” rating.
Currently, analysts have assigned Deckers Outdoor a consensus rating of “moderate buy” based on a variety of ratings; three analysts consider it a strong buy, nine suggest buying, eleven hold, and two advise selling. The consensus target price stands at $119.58 according to MarketBeat.
Deckers Outdoor Corporation designs, markets, and distributes footwear, apparel, and accessories for casual and high-performance activities globally. The company is well-known for its UGG brand, HOKA for ultra-runners and athletes, and Teva sandals and footwear.
