Adage Capital Partners GP L.L.C. Buys 3,483 Shares of Deckers Outdoor Corporation $DECK

Key Points

• Adage Capital Partners GP L.L.C. increased its stake in Deckers Outdoor Corporation by 2.5%, owning approximately 145,383 shares valued at $16.26 million.
• Deckers Outdoor reported $0.93 earnings per share for the recent quarter, exceeding estimates and showing a 16.9% year-over-year revenue growth.
• The company initiated a $2.25 billion stock repurchase program, intending to buy back up to 11.7% of its shares, indicating that it views its stock as undervalued.

Adage Capital Partners GP L.L.C. raised its stake in Deckers Outdoor Corporation (NYSE:DECK - Free Report) by 2.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 145,383 shares of the textile maker's stock after acquiring an additional 3,483 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.10% of Deckers Outdoor worth $16,255,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Revolve Wealth Partners LLC purchased a new position in Deckers Outdoor in the 4th quarter worth about $247,000. Schonfeld Strategic Advisors LLC lifted its holdings in Deckers Outdoor by 21.2% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 3,813 shares of the textile maker's stock valued at $774,000 after purchasing an additional 668 shares in the last quarter. Aptus Capital Advisors LLC purchased a new position in shares of Deckers Outdoor during the 4th quarter valued at $224,000. Baird Financial Group Inc. boosted its stake in shares of Deckers Outdoor by 846.5% in the fourth quarter. Baird Financial Group Inc. now owns 36,119 shares of the textile maker's stock worth $7,335,000 after acquiring an additional 32,303 shares during the period. Finally, Captrust Financial Advisors boosted its stake in Deckers Outdoor by 1.9% in the 4th quarter. Captrust Financial Advisors now owns 7,505 shares of the textile maker's stock worth $1,524,000 after purchasing an additional 143 shares during the period. 97.79% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Deckers Outdoor news, Director Maha Saleh Ibrahim sold 300 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $118.02, for a total value of $35,406.00. Following the sale, the director owned 10,979 shares in the company, valued at $1,295,741.58. This trade represents a 2.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.40% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

DECK has been the subject of several research reports. The Goldman Sachs Group dropped their price objective on shares of Deckers Outdoor from $90.00 to $87.00 and set a "sell" rating for the company in a report on Tuesday, July 22nd. Bank of America reduced their target price on shares of Deckers Outdoor from $128.00 to $114.00 and set a "neutral" rating on the stock in a report on Thursday, July 17th. Wells Fargo & Company upped their target price on shares of Deckers Outdoor from $90.00 to $100.00 and gave the company an "equal weight" rating in a research report on Friday, July 25th. Cowen reaffirmed a "buy" rating on shares of Deckers Outdoor in a report on Tuesday, May 20th. Finally, Argus initiated coverage on Deckers Outdoor in a research note on Friday, June 13th. They set a "hold" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, thirteen have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $137.50.

Deckers Outdoor Stock Performance

NYSE DECK traded up $3.76 during trading on Thursday, hitting $117.89. The stock had a trading volume of 1,864,524 shares, compared to its average volume of 2,471,645. Deckers Outdoor Corporation has a one year low of $93.72 and a one year high of $223.98. The stock has a 50 day simple moving average of $108.61 and a 200 day simple moving average of $112.14. The stock has a market capitalization of $17.49 billion, a price-to-earnings ratio of 18.08, a P/E/G ratio of 4.31 and a beta of 1.05.

Deckers Outdoor (NYSE:DECK - Get Free Report) last released its earnings results on Thursday, July 24th. The textile maker reported $0.93 EPS for the quarter, beating analysts' consensus estimates of $0.68 by $0.25. Deckers Outdoor had a return on equity of 40.49% and a net margin of 19.42%.The firm had revenue of $964.54 million for the quarter, compared to analysts' expectations of $901.45 million. During the same quarter in the prior year, the firm posted $4.52 earnings per share. The company's quarterly revenue was up 16.9% on a year-over-year basis. Deckers Outdoor has set its Q2 2026 guidance at 1.500-1.550 EPS. On average, sell-side analysts predict that Deckers Outdoor Corporation will post 5.89 EPS for the current year.

Deckers Outdoor declared that its board has approved a stock buyback program on Thursday, May 22nd that authorizes the company to repurchase $2.25 billion in outstanding shares. This repurchase authorization authorizes the textile maker to reacquire up to 11.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company's board of directors believes its stock is undervalued.

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