Royal Bank of Canada Buys 183,935 Shares of Deckers Outdoor Corporation $DECK

Key Points

• Royal Bank of Canada increased its stake in Deckers Outdoor Corporation by 20.3%, acquiring an additional 183,935 shares, which brings its total holdings to 1,087,839 shares valued at approximately $121.6 million.
• Deckers Outdoor reported a quarterly earnings per share (EPS) of $0.93, surpassing analysts' expectations of $0.68, with revenue reaching $964.54 million.
• The Board of Directors of Deckers Outdoor has authorized a stock buyback program worth $2.25 billion, allowing the company to repurchase up to 11.7% of its shares, indicating they believe the stock is undervalued.

Royal Bank of Canada grew its holdings in shares of Deckers Outdoor Corporation (NYSE:DECK - Free Report) by 20.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 1,087,839 shares of the textile maker's stock after purchasing an additional 183,935 shares during the period. Royal Bank of Canada owned approximately 0.72% of Deckers Outdoor worth $121,632,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on DECK shares. KeyCorp reaffirmed a "sector weight" rating and issued a $150.00 price target on shares of Deckers Outdoor in a research report on Friday, May 23rd. Evercore ISI lifted their price target on Deckers Outdoor from $110.00 to $115.00 and gave the stock an "in-line" rating in a research report on Friday, July 25th. Argus started coverage on Deckers Outdoor in a research report on Friday, June 13th. They issued a "hold" rating for the company. Telsey Advisory Group reiterated a "market perform" rating and issued a $120.00 price objective on shares of Deckers Outdoor in a report on Friday, July 25th. Finally, Bank of America cut their target price on shares of Deckers Outdoor from $128.00 to $114.00 and set a "neutral" rating for the company in a research report on Thursday, July 17th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, thirteen have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $137.50.

Deckers Outdoor Stock Performance

Shares of DECK stock traded down $3.54 during mid-day trading on Friday, reaching $120.37. 2,192,393 shares of the company's stock traded hands, compared to its average volume of 2,465,278. Deckers Outdoor Corporation has a 12 month low of $93.72 and a 12 month high of $223.98. The firm has a 50 day moving average price of $107.73 and a two-hundred day moving average price of $113.00. The firm has a market capitalization of $17.86 billion, a PE ratio of 18.46, a price-to-earnings-growth ratio of 4.71 and a beta of 1.05.

Deckers Outdoor (NYSE:DECK - Get Free Report) last issued its quarterly earnings data 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. Deckers Outdoor had a net margin of 19.42% and a return on equity of 40.49%. The firm had revenue of $964.54 million during the quarter, compared to the consensus estimate of $901.45 million. During the same quarter in the previous year, the firm posted $4.52 EPS. The company's revenue for the quarter was up 16.9% compared to the same quarter last year. Deckers Outdoor has set its Q2 2026 guidance at 1.500-1.550 EPS. As a group, equities analysts expect 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 initiated a share buyback plan on Thursday, May 22nd that authorizes the company to buyback $2.25 billion in shares. This buyback authorization authorizes the textile maker to purchase up to 11.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management 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.