Allianz Asset Management GmbH Has $12.69 Million Stock Position in Deckers Outdoor Corporation (NYSE:DECK)

Key Points

• Allianz Asset Management GmbH reduced its stake in Deckers Outdoor Corporation by 22.5%, ending the first quarter with $12.69 million invested in 113,511 shares after selling 32,875 shares.
• Deckers Outdoor's stock price target has seen changes from various analysts, with Robert W. Baird raising it to $150, while Bank of America lowered theirs to $114, reflecting a mixed outlook.
• The company is implementing a $2.25 billion share buyback program, allowing it to repurchase up to 11.7% of its outstanding shares, a move often seen as a sign of undervaluation.

Allianz Asset Management GmbH cut its stake in shares of Deckers Outdoor Corporation (NYSE:DECK - Free Report) by 22.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 113,511 shares of the textile maker's stock after selling 32,875 shares during the period. Allianz Asset Management GmbH owned 0.07% of Deckers Outdoor worth $12,692,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. HighPoint Advisor Group LLC lifted its position in Deckers Outdoor by 5.3% during the fourth quarter. HighPoint Advisor Group LLC now owns 1,623 shares of the textile maker's stock worth $330,000 after acquiring an additional 81 shares during the last quarter. Gerber Kawasaki Wealth & Investment Management lifted its position in Deckers Outdoor by 4.6% during the fourth quarter. Gerber Kawasaki Wealth & Investment Management now owns 1,902 shares of the textile maker's stock worth $386,000 after acquiring an additional 84 shares during the last quarter. CIBC Private Wealth Group LLC lifted its position in Deckers Outdoor by 1.9% during the fourth quarter. CIBC Private Wealth Group LLC now owns 4,896 shares of the textile maker's stock worth $1,016,000 after acquiring an additional 90 shares during the last quarter. Alcosta Capital Management Inc. lifted its position in Deckers Outdoor by 0.3% during the fourth quarter. Alcosta Capital Management Inc. now owns 33,787 shares of the textile maker's stock worth $6,862,000 after acquiring an additional 90 shares during the last quarter. Finally, Arete Wealth Advisors LLC lifted its position in Deckers Outdoor by 2.8% during the fourth quarter. Arete Wealth Advisors LLC now owns 3,654 shares of the textile maker's stock worth $747,000 after acquiring an additional 98 shares during the last quarter. 97.79% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

DECK has been the subject of several research reports. Robert W. Baird raised their price objective on shares of Deckers Outdoor from $140.00 to $150.00 and gave the stock an "outperform" rating in a research report on Friday. Bank of America lowered 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. KeyCorp reaffirmed a "sector weight" rating and set a $150.00 target price on shares of Deckers Outdoor in a report on Friday, May 23rd. Evercore ISI raised their target price on shares of Deckers Outdoor from $110.00 to $115.00 and gave the stock an "in-line" rating in a report on Friday. Finally, Truist Financial raised their target price on shares of Deckers Outdoor from $130.00 to $145.00 and gave the stock a "buy" rating in a report on Friday. One investment analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $131.77.

Deckers Outdoor Stock Performance

NYSE DECK opened at $116.63 on Friday. The firm's fifty day moving average price is $106.21 and its two-hundred day moving average price is $129.74. The stock has a market cap of $17.43 billion, a PE ratio of 17.89, a PEG ratio of 6.89 and a beta of 0.99. Deckers Outdoor Corporation has a fifty-two week low of $93.72 and a fifty-two week high of $223.98.

Deckers Outdoor (NYSE:DECK - Get Free Report) last posted its earnings results on Thursday, July 24th. The textile maker reported $0.93 earnings per share for the quarter, topping analysts' consensus estimates of $0.68 by $0.25. The firm had revenue of $964.54 million for the quarter, compared to analysts' expectations of $901.45 million. Deckers Outdoor had a net margin of 19.42% and a return on equity of 40.54%. The company's revenue was up 16.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.52 earnings per share. As a group, sell-side analysts predict that Deckers Outdoor Corporation will post 5.89 earnings per share for the current fiscal year.

Deckers Outdoor declared that its Board of Directors has approved a share repurchase program on Thursday, May 22nd that allows the company to buyback $2.25 billion in outstanding shares. This buyback authorization allows the textile maker to reacquire up to 11.7% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Insider Transactions at Deckers Outdoor

In other news, Director Maha Saleh Ibrahim sold 300 shares of Deckers Outdoor stock in a transaction on Friday, June 6th. The shares were sold at an average price of $109.08, for a total transaction of $32,724.00. Following the transaction, the director owned 10,681 shares in the company, valued at approximately $1,165,083.48. The trade was a 2.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Cindy L. Davis purchased 1,825 shares of the business's stock in a transaction dated Friday, June 6th. The shares were acquired at an average price of $109.76 per share, for a total transaction of $200,312.00. Following the acquisition, the director owned 13,340 shares of the company's stock, valued at $1,464,198.40. This trade represents a 15.85% increase in their position. The disclosure for this purchase can be found here. 0.40% of the stock is owned by company insiders.

Deckers Outdoor Company 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.

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