51,081 Deckers Outdoor Corporation $DECK Shares Purchased by QRG Capital Management Inc.

Key Points

• QRG Capital Management increased its Deckers Outdoor stake by 668.3% in the second quarter, buying 51,081 additional shares and ending with 58,724 shares worth approximately $5.83 million.
• Institutional ownership remains very high at 97.79%, with BlackRock, Norges Bank and other major institutions also establishing or expanding positions.
• Deckers reported quarterly EPS of $0.94, beating estimates of $0.88, while revenue rose 5.7% year over year to $1.02 billion. Despite a consensus “Hold” rating and average price target of $114.42, the stock recently traded near $78.61.

QRG Capital Management Inc. lifted its stake in shares of Deckers Outdoor Corporation (NYSE:DECK - Free Report) by 668.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 58,724 shares of the textile maker's stock after purchasing an additional 51,081 shares during the period. QRG Capital Management Inc.'s holdings in Deckers Outdoor were worth $5,831,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. BlackRock Inc. purchased a new position in Deckers Outdoor in the second quarter valued at approximately $1,343,613,000. Norges Bank bought a new stake in shares of Deckers Outdoor in the fourth quarter valued at $252,729,000. Bank of New York Mellon Corp bought a new stake in shares of Deckers Outdoor in the second quarter valued at $170,905,000. Caisse de depot et placement du Quebec purchased a new position in shares of Deckers Outdoor during the 2nd quarter valued at $119,656,000. Finally, Deutsche Bank AG purchased a new position in shares of Deckers Outdoor during the 2nd quarter valued at $100,620,000. Institutional investors own 97.79% of the company's stock.

Deckers Outdoor Stock Performance

Shares of NYSE DECK opened at $78.61 on Friday. Deckers Outdoor Corporation has a fifty-two week low of $77.36 and a fifty-two week high of $122.29. The stock has a market cap of $10.71 billion, a PE ratio of 11.15, a price-to-earnings-growth ratio of 1.24 and a beta of 1.15. The stock has a fifty day moving average of $90.32 and a 200-day moving average of $99.57.

Deckers Outdoor (NYSE:DECK - Get Free Report) last issued its earnings results on Thursday, July 23rd. The textile maker reported $0.94 EPS for the quarter, topping the consensus estimate of $0.88 by $0.06. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.02 billion. Deckers Outdoor had a return on equity of 41.51% and a net margin of 18.54%.The firm's revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.93 EPS. Deckers Outdoor has set its FY 2027 guidance at 7.350-7.500 EPS. On average, sell-side analysts predict that Deckers Outdoor Corporation will post 7.5 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on DECK. UBS Group reissued a "buy" rating on shares of Deckers Outdoor in a report on Friday, September 11th. Weiss Ratings downgraded shares of Deckers Outdoor from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, September 3rd. Wells Fargo & Company reiterated an "underweight" rating and issued a $85.00 target price on shares of Deckers Outdoor in a research note on Friday, July 24th. BMO Capital Markets started coverage on shares of Deckers Outdoor in a research report on Tuesday, September 8th. They issued an "underperform" rating and a $70.00 price target on the stock. Finally, Truist Financial lowered their price target on shares of Deckers Outdoor from $125.00 to $105.00 and set a "buy" rating on the stock in a research report on Friday, July 24th. Nine analysts have rated the stock with a Buy rating, twelve have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $114.42.

About Deckers Outdoor

Deckers Outdoor Corporation NYSE: DECK designs, markets and distributes branded footwear, apparel and accessories. Its portfolio includes UGG, known for sheepskin and casual footwear; HOKA, a performance and lifestyle footwear brand; Teva, which specializes in outdoor and adventure sandals and footwear; and Koolaburra by UGG, which offers accessible casual footwear and related products.

The company sells its products through department and specialty stores, independent retailers, digital commerce platforms and its own brand websites and retail stores.

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