Norges Bank Invests $252.73 Million in Deckers Outdoor Corporation $DECK

Norges Bank purchased a new stake in shares of Deckers Outdoor Corporation (NYSE:DECK) in the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 2,437,823 shares of the textile maker’s stock, valued at approximately $252,729,000.

A number of other hedge funds also recently bought and sold shares of the company. Rakuten Securities Inc. boosted its holdings in Deckers Outdoor by 45.5% during the second quarter. Rakuten Securities Inc. now owns 320 shares of the textile maker’s stock valued at $33,000 after acquiring an additional 100 shares during the period. Perennial Investment Advisors LLC boosted its holdings in Deckers Outdoor by 5.4% during the third quarter. Perennial Investment Advisors LLC now owns 2,709 shares of the textile maker’s stock valued at $275,000 after acquiring an additional 138 shares during the period. BOKF NA boosted its holdings in Deckers Outdoor by 0.9% during the third quarter. BOKF NA now owns 17,412 shares of the textile maker’s stock valued at $1,765,000 after acquiring an additional 150 shares during the period. Ritholtz Wealth Management boosted its holdings in Deckers Outdoor by 7.3% during the fourth quarter. Ritholtz Wealth Management now owns 2,232 shares of the textile maker’s stock valued at $231,000 after acquiring an additional 152 shares during the period. Finally, Salomon & Ludwin LLC boosted its holdings in Deckers Outdoor by 51.8% during the fourth quarter. Salomon & Ludwin LLC now owns 463 shares of the textile maker’s stock valued at $50,000 after acquiring an additional 158 shares during the period. 97.79% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on DECK. Raymond James Financial cut shares of Deckers Outdoor from a “strong-buy” rating to an “outperform” rating and set a $133.00 price target for the company. in a report on Thursday, April 23rd. UBS Group upped their price target on shares of Deckers Outdoor from $145.00 to $161.00 and gave the company a “buy” rating in a report on Friday, May 22nd. Piper Sandler upgraded shares of Deckers Outdoor from an “underweight” rating to a “neutral” rating and upped their price target for the company from $95.00 to $100.00 in a report on Monday, May 18th. KGI Securities cut shares of Deckers Outdoor from an “outperform” rating to a “neutral” rating and set a $117.00 price target for the company. in a report on Friday, May 22nd. Finally, Argus set a $128.00 price target on shares of Deckers Outdoor in a report on Friday. Nine equities research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Deckers Outdoor currently has a consensus rating of “Hold” and a consensus target price of $121.11.

Deckers Outdoor Stock Performance

Shares of DECK opened at $110.72 on Wednesday. The company has a 50-day simple moving average of $103.28 and a 200-day simple moving average of $103.09. The firm has a market capitalization of $15.38 billion, a P/E ratio of 15.73, a P/E/G ratio of 2.20 and a beta of 1.16. Deckers Outdoor Corporation has a 52 week low of $78.91 and a 52 week high of $126.50.

Deckers Outdoor (NYSE:DECK) last announced its quarterly earnings data on Thursday, May 21st. The textile maker reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.81 by $0.15. The business had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.09 billion. Deckers Outdoor had a net margin of 18.90% and a return on equity of 41.19%. The firm’s revenue for the quarter was up 9.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.00 earnings per share. Deckers Outdoor has set its FY 2027 guidance at 7.300-7.450 EPS. As a group, equities analysts forecast that Deckers Outdoor Corporation will post 7.41 earnings per share for the current year.

Deckers Outdoor Profile

Deckers Outdoor Corporation is a global designer, marketer and distributor of footwear, apparel and accessories. The company’s product portfolio includes well‐known brands such as UGG, HOKA, Teva, Sanuk and Koolaburra by UGG, spanning a range of lifestyle, performance and outdoor categories. Deckers leverages a blend of proprietary manufacturing, strategic brand storytelling and direct‐to‐consumer retail to serve both fashion‐focused and performance‐oriented customers.

Founded in 1973 by Doug Otto and Karl F.