Allstate Corp Grows Holdings in Deckers Outdoor Corporation $DECK

Key Points

• Allstate Corp increased its stake in Deckers Outdoor Corporation by 67.6%, owning 7,325 shares valued at $819,000 following additional purchases in the first quarter.
• Deckers Outdoor reported a 16.9% increase in revenue year-over-year, with earnings per share of $0.93, exceeding expectations by $0.25.
• A new share repurchase program was authorized, allowing Deckers Outdoor to buy back up to $2.25 billion in shares, indicating management's belief that the stock is undervalued.

Allstate Corp raised its position in Deckers Outdoor Corporation (NYSE:DECK - Free Report) by 67.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,325 shares of the textile maker's stock after buying an additional 2,955 shares during the period. Allstate Corp's holdings in Deckers Outdoor were worth $819,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Revolve Wealth Partners LLC purchased a new position in shares of Deckers Outdoor during the 4th quarter valued at approximately $247,000. Kovitz Investment Group Partners LLC acquired a new stake in shares of Deckers Outdoor in the fourth quarter valued at about $427,000. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Deckers Outdoor during the fourth quarter worth about $8,651,000. Gerber Kawasaki Wealth & Investment Management raised its position in shares of Deckers Outdoor by 4.6% during the 4th quarter. Gerber Kawasaki Wealth & Investment Management now owns 1,902 shares of the textile maker's stock worth $386,000 after purchasing an additional 84 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Deckers Outdoor by 13.9% in the 4th quarter. Northern Trust Corp now owns 1,581,702 shares of the textile maker's stock valued at $321,228,000 after buying an additional 192,469 shares in the last quarter. 97.79% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have commented on DECK. Needham & Company LLC reiterated a "buy" rating and set a $128.00 price objective (up from $120.00) on shares of Deckers Outdoor in a research note on Wednesday, July 23rd. Raymond James Financial increased their price objective on Deckers Outdoor from $123.00 to $137.00 and gave the company a "strong-buy" rating in a research note on Friday, July 25th. Cowen reaffirmed a "buy" rating on shares of Deckers Outdoor in a research note on Tuesday, May 20th. Evercore ISI upped 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, July 25th. Finally, TD Securities raised their price target on shares of Deckers Outdoor from $150.00 to $175.00 and gave the stock a "buy" rating in a research note on Tuesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $137.50.

Insider Buying and Selling at Deckers Outdoor

In other news, Director Cindy L. Davis bought 1,825 shares of the firm's stock in a transaction on Friday, June 6th. The shares were bought at an average cost of $109.76 per share, for a total transaction of $200,312.00. Following the acquisition, the director directly 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 acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Maha Saleh Ibrahim sold 300 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $109.08, for a total transaction of $32,724.00. Following the completion of the transaction, the director owned 10,681 shares in the company, valued at $1,165,083.48. The trade was a 2.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by company insiders.

Deckers Outdoor Stock Up 1.3%

NYSE:DECK traded up $1.49 on Thursday, hitting $118.22. The stock had a trading volume of 2,353,969 shares, compared to its average volume of 3,370,298. The stock has a market cap of $17.54 billion, a price-to-earnings ratio of 18.13, a PEG ratio of 4.32 and a beta of 0.99. The company has a fifty day moving average price of $105.02 and a two-hundred day moving average price of $114.71. Deckers Outdoor Corporation has a 1-year low of $93.72 and a 1-year 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, beating the consensus estimate of $0.68 by $0.25. The company had revenue of $964.54 million for the quarter, compared to analyst estimates of $901.45 million. Deckers Outdoor had a net margin of 19.42% and a return on equity of 40.49%. Deckers Outdoor's revenue was up 16.9% on a year-over-year basis. During the same period in the previous year, the business posted $4.52 EPS. Deckers Outdoor has set its Q2 2026 guidance at 1.500-1.550 EPS. As a group, analysts anticipate that Deckers Outdoor Corporation will post 5.89 earnings per share for the current year.

Deckers Outdoor announced that its board has initiated a share repurchase plan on Thursday, May 22nd that authorizes the company to repurchase $2.25 billion in outstanding shares. This repurchase authorization authorizes the textile maker to repurchase up to 11.7% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its shares are 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.