Assenagon Asset Management S.A. Sells 105,991 Shares of Deckers Outdoor Corporation $DECK

Key Points

• Assenagon Asset Management cut its Deckers Outdoor stake by 25.6% in the third quarter, selling 105,991 shares and retaining 307,835 shares worth approximately $25 million.
• Deckers reported quarterly EPS of $0.94, exceeding estimates by $0.06, while revenue reached $1.02 billion and rose 5.7% year over year.
• Analyst sentiment is mixed, with nine Buy, eleven Hold, and three Sell ratings; the stock carries a consensus “Hold” rating and an average price target of $111.84 versus its $85.50 opening price.

Assenagon Asset Management S.A. decreased its position in shares of Deckers Outdoor Corporation (NYSE:DECK - Free Report) by 25.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 307,835 shares of the textile maker's stock after selling 105,991 shares during the quarter. Assenagon Asset Management S.A. owned 0.23% of Deckers Outdoor worth $24,971,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in DECK. BlackRock Inc. acquired a new stake in shares of Deckers Outdoor during the 2nd quarter valued at about $1,343,613,000. Bank of New York Mellon Corp acquired a new stake in Deckers Outdoor in the 2nd quarter valued at $170,905,000. Caisse de depot et placement du Quebec purchased a new stake in Deckers Outdoor in the 2nd quarter worth $119,656,000. Deutsche Bank AG acquired a new stake in shares of Deckers Outdoor in the second quarter valued at about $100,620,000. Finally, Man Group plc acquired a new stake in shares of Deckers Outdoor in the second quarter valued at about $82,448,000. 97.79% of the stock is owned by hedge funds and other institutional investors.

Deckers Outdoor Price Performance

Shares of DECK stock opened at $85.50 on Monday. The firm's 50-day moving average is $84.27 and its two-hundred day moving average is $97.37. Deckers Outdoor Corporation has a 12 month low of $77.20 and a 12 month high of $122.29. The company has a market capitalization of $11.65 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 1.33 and a beta of 1.12.

Deckers Outdoor (NYSE:DECK - Get Free Report) last posted its earnings results on Thursday, July 23rd. The textile maker reported $0.94 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.06. The company had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.02 billion. Deckers Outdoor had a net margin of 18.54% and a return on equity of 41.51%. Deckers Outdoor's revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.93 EPS. Deckers Outdoor has set its FY 2027 guidance at 7.350-7.500 EPS. Sell-side analysts forecast that Deckers Outdoor Corporation will post 7.50 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on DECK shares. UBS Group reiterated a "buy" rating and set a $140.00 price objective on shares of Deckers Outdoor in a research note on Thursday. Telsey Advisory Group restated a "market perform" rating and issued a $105.00 target price on shares of Deckers Outdoor in a research report on Thursday. KeyCorp reaffirmed a "sector weight" rating on shares of Deckers Outdoor in a research note on Friday, July 24th. Raymond James Financial set a $105.00 price target on Deckers Outdoor and gave the stock an "outperform" rating in a research report on Friday. Finally, Truist Financial dropped their price target on Deckers Outdoor from $125.00 to $105.00 and set a "buy" rating for the company in a research report on Friday, July 24th. Nine equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $111.84.

About Deckers Outdoor

Deckers Outdoor Corporation, doing business as Deckers Brands, is a global footwear, apparel and accessories company. Its portfolio includes UGG, known for sheepskin and casual lifestyle products; HOKA, which develops performance running and outdoor footwear; and Teva, which offers outdoor and adventure sandals and footwear. The company also markets Koolaburra by UGG and other product lines.

Deckers sells its products through company-owned retail stores, e-commerce websites, wholesale accounts and selected distributors.

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