Cinctive Capital Management LP Sells 7,843 Shares of Deckers Outdoor Corporation $DECK

Key Points

• Cinctive Capital Management LP reduced its stake in Deckers Outdoor Corporation by 12.9%, holding shares worth approximately $5.90 million after selling 7,843 shares in the first quarter.
• Deckers Outdoor's recent earnings report surpassed expectations with $0.93 earnings per share, exceeding the consensus estimate by $0.25, while revenue increased by 16.9% year-over-year.
• The board of Deckers Outdoor authorized a $2.25 billion share repurchase plan, reflecting management's belief that the stock is currently undervalued.

Cinctive Capital Management LP cut its position in shares of Deckers Outdoor Corporation (NYSE:DECK - Free Report) by 12.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,808 shares of the textile maker's stock after selling 7,843 shares during the period. Cinctive Capital Management LP's holdings in Deckers Outdoor were worth $5,904,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mpwm Advisory Solutions LLC purchased a new stake in shares of Deckers Outdoor during the 4th quarter worth about $26,000. Vega Investment Solutions purchased a new stake in shares of Deckers Outdoor during the 4th quarter worth about $29,000. Mountain Hill Investment Partners Corp. purchased a new stake in shares of Deckers Outdoor during the 1st quarter worth about $34,000. Fourth Dimension Wealth LLC purchased a new stake in shares of Deckers Outdoor during the 4th quarter worth about $41,000. Finally, Olde Wealth Management LLC purchased a new stake in shares of Deckers Outdoor during the 1st quarter worth about $47,000. 97.79% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. TD Securities increased their price objective on Deckers Outdoor from $150.00 to $175.00 and gave the company a "buy" rating in a report on Tuesday, May 20th. Telsey Advisory Group reissued a "market perform" rating and set a $120.00 price objective on shares of Deckers Outdoor in a report on Friday, July 25th. Argus assumed coverage on Deckers Outdoor in a report on Friday, June 13th. They set a "hold" rating on the stock. Barclays increased their price objective on Deckers Outdoor from $128.00 to $134.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Finally, Wells Fargo & Company increased their price objective on Deckers Outdoor from $90.00 to $100.00 and gave the company an "equal weight" rating in a report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, thirteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $137.50.

Deckers Outdoor Trading Down 2.9%

DECK traded down $3.54 during midday trading on Friday, reaching $120.37. The company's stock had a trading volume of 2,192,393 shares, compared to its average volume of 2,465,278. The stock has a market cap of $17.86 billion, a P/E ratio of 18.46, a PEG ratio of 4.57 and a beta of 1.05. The company has a fifty day simple moving average of $107.73 and a 200 day simple moving average of $112.72. 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 released its earnings results on Thursday, July 24th. The textile maker reported $0.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.68 by $0.25. The firm had revenue of $964.54 million for the quarter, compared to analyst estimates of $901.45 million. Deckers Outdoor had a return on equity of 40.49% and a net margin of 19.42%.The company's revenue was up 16.9% on a year-over-year basis. During the same quarter last year, the firm posted $4.52 EPS. Deckers Outdoor has set its Q2 2026 guidance at 1.500-1.550 EPS. Sell-side analysts expect 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 buyback plan on Thursday, May 22nd that allows the company to repurchase $2.25 billion in outstanding shares. This repurchase authorization allows the textile maker to reacquire up to 11.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's leadership believes its stock is 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.