Allianz SE Has $3.21 Million Stock Holdings in Deckers Outdoor Corporation (NYSE:DECK)

Key Points

• Allianz SE significantly increased its stake in Deckers Outdoor Corporation by 713.1%, owning 28,701 shares worth approximately $3.21 million as of the latest SEC filing.
• Deckers Outdoor reported a 16.9% increase in revenue compared to the previous year, achieving a quarterly earnings per share of $0.93, exceeding analyst expectations.
• The company announced a $2.25 billion share buyback plan, allowing it to repurchase up to 11.7% of its stock, signaling management's belief that shares are undervalued.

Allianz SE increased its position in Deckers Outdoor Corporation (NYSE:DECK - Free Report) by 713.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 28,701 shares of the textile maker's stock after buying an additional 25,171 shares during the quarter. Allianz SE's holdings in Deckers Outdoor were worth $3,209,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the business. Revolve Wealth Partners LLC acquired a new position in Deckers Outdoor during the 4th quarter worth about $247,000. Headlands Technologies LLC bought a new position in shares of Deckers Outdoor during the fourth quarter worth about $29,000. Huntington National Bank lifted its stake in shares of Deckers Outdoor by 63.7% in the fourth quarter. Huntington National Bank now owns 1,174 shares of the textile maker's stock worth $238,000 after acquiring an additional 457 shares during the period. Resona Asset Management Co. Ltd. bought a new stake in shares of Deckers Outdoor in the 4th quarter valued at $10,520,000. Finally, Envestnet Asset Management Inc. boosted its position in Deckers Outdoor by 101.3% during the fourth quarter. Envestnet Asset Management Inc. now owns 1,003,743 shares of the textile maker's stock valued at $203,850,000 after acquiring an additional 505,139 shares during the last quarter. Institutional investors own 97.79% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on DECK. KeyCorp reaffirmed a "sector weight" rating and set a $150.00 target price on shares of Deckers Outdoor in a research note on Friday, May 23rd. Telsey Advisory Group reiterated a "market perform" rating and issued a $120.00 price objective on shares of Deckers Outdoor in a research note on Friday, July 25th. Wells Fargo & Company increased their target price on shares of Deckers Outdoor from $90.00 to $100.00 and gave the stock an "equal weight" rating in a research note on Friday, July 25th. Piper Sandler decreased their price target on shares of Deckers Outdoor from $210.00 to $100.00 and set a "neutral" rating for the company in a research note on Friday, April 11th. Finally, Argus initiated coverage on shares of Deckers Outdoor in a report on Friday, June 13th. They set a "hold" rating on the stock. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $137.50.

Insider Transactions at Deckers Outdoor

In related news, insider Angela Ogbechie sold 6,244 shares of Deckers Outdoor stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $103.89, for a total value of $648,689.16. Following the sale, the insider owned 19,980 shares of the company's stock, valued at approximately $2,075,722.20. The trade was a 23.81% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Cindy L. Davis acquired 1,825 shares of the firm's stock in a transaction that occurred on Friday, June 6th. The stock was purchased at an average cost of $109.76 per share, with a total value of $200,312.00. Following the acquisition, the director owned 13,340 shares in the company, valued at $1,464,198.40. The trade was a 15.85% increase in their position. The disclosure for this purchase can be found here. 0.40% of the stock is currently owned by company insiders.

Deckers Outdoor Stock Down 2.7%

Shares of NYSE DECK opened at $103.29 on Monday. The company has a market capitalization of $15.32 billion, a PE ratio of 15.84, a PEG ratio of 3.94 and a beta of 0.99. The stock's 50 day moving average price is $104.94 and its 200-day moving average price is $125.83. Deckers Outdoor Corporation has a twelve month low of $93.72 and a twelve month high of $223.98.

Deckers Outdoor (NYSE:DECK - Get Free Report) last posted its quarterly earnings data on Thursday, July 24th. The textile maker reported $0.93 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.25. The business had revenue of $964.54 million for the quarter, compared to analysts' expectations of $901.45 million. Deckers Outdoor had a return on equity of 40.49% and a net margin of 19.42%. The business's revenue was up 16.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.52 earnings per share. As a group, research analysts expect that Deckers Outdoor Corporation will post 5.89 EPS for the current fiscal year.

Deckers Outdoor declared that its board has approved a share repurchase plan on Thursday, May 22nd that permits the company to buyback $2.25 billion in shares. This buyback authorization permits the textile maker to repurchase up to 11.7% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's board of directors believes its shares are undervalued.

About Deckers Outdoor

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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