Norges Bank Takes $196.81 Million Position in Deckers Outdoor Co. (NYSE:DECK)

Norges Bank acquired a new stake in shares of Deckers Outdoor Co. (NYSE:DECK) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 294,442 shares of the textile maker’s stock, valued at approximately $196,814,000. Norges Bank owned 1.15% of Deckers Outdoor at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Morgan Stanley increased its stake in shares of Deckers Outdoor by 82.6% during the third quarter. Morgan Stanley now owns 1,166,394 shares of the textile maker’s stock valued at $599,633,000 after acquiring an additional 527,546 shares during the period. Invesco Ltd. increased its stake in shares of Deckers Outdoor by 8.9% during the third quarter. Invesco Ltd. now owns 456,957 shares of the textile maker’s stock valued at $234,917,000 after acquiring an additional 37,194 shares during the period. Northern Trust Corp increased its stake in shares of Deckers Outdoor by 2.6% during the third quarter. Northern Trust Corp now owns 231,535 shares of the textile maker’s stock valued at $119,030,000 after acquiring an additional 5,972 shares during the period. Charles Schwab Investment Management Inc. increased its stake in shares of Deckers Outdoor by 1.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 172,873 shares of the textile maker’s stock valued at $115,553,000 after acquiring an additional 1,954 shares during the period. Finally, Artisan Partners Limited Partnership acquired a new position in shares of Deckers Outdoor during the third quarter valued at approximately $72,727,000. Institutional investors and hedge funds own 97.79% of the company’s stock.

Insiders Place Their Bets

In other Deckers Outdoor news, CEO David Powers sold 5,993 shares of the business’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $922.85, for a total transaction of $5,530,640.05. Following the completion of the transaction, the chief executive officer now owns 98,218 shares of the company’s stock, valued at approximately $90,640,481.30. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.70% of the company’s stock.

Deckers Outdoor Price Performance

Deckers Outdoor stock opened at $893.66 on Thursday. The firm has a market cap of $22.94 billion, a price-to-earnings ratio of 32.15, a P/E/G ratio of 1.60 and a beta of 1.05. Deckers Outdoor Co. has a fifty-two week low of $424.36 and a fifty-two week high of $956.17. The firm has a fifty day moving average price of $871.93 and a two-hundred day moving average price of $790.32.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Bank of America lowered shares of Deckers Outdoor from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $875.00 to $860.00 in a research note on Thursday, April 25th. TD Cowen lifted their price target on shares of Deckers Outdoor from $1,000.00 to $1,005.00 and gave the stock a “buy” rating in a research report on Thursday, April 18th. Truist Financial restated a “hold” rating and issued a $864.00 price target (down previously from $983.00) on shares of Deckers Outdoor in a research report on Wednesday, April 10th. UBS Group lifted their price target on shares of Deckers Outdoor from $950.00 to $1,150.00 and gave the stock a “buy” rating in a research report on Friday, February 2nd. Finally, Raymond James lifted their price target on shares of Deckers Outdoor from $585.00 to $845.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 30th. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $900.31.

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 and apparel for ultra-runners and athletes under the Hoka brand; and sandals, shoes, and boots under the Teva brand name.