KLP Kapitalforvaltning AS Invests $20.39 Million in Deckers Outdoor Co. (NYSE:DECK)

KLP Kapitalforvaltning AS bought a new position in Deckers Outdoor Co. (NYSE:DECK) in the fourth quarter, HoldingsChannel reports. The fund bought 100,400 shares of the textile maker’s stock, valued at approximately $20,390,000.

A number of other hedge funds have also bought and sold shares of the business. FMR LLC raised its position in Deckers Outdoor by 499.2% in the 3rd quarter. FMR LLC now owns 22,869,485 shares of the textile maker’s stock worth $3,646,539,000 after buying an additional 19,053,113 shares during the last quarter. State Street Corp raised its position in Deckers Outdoor by 513.8% in the 3rd quarter. State Street Corp now owns 6,584,305 shares of the textile maker’s stock worth $1,049,867,000 after buying an additional 5,511,513 shares during the last quarter. Geode Capital Management LLC raised its position in Deckers Outdoor by 509.1% in the 3rd quarter. Geode Capital Management LLC now owns 4,059,919 shares of the textile maker’s stock worth $646,316,000 after buying an additional 3,393,420 shares during the last quarter. American Century Companies Inc. raised its position in Deckers Outdoor by 6.4% in the 4th quarter. American Century Companies Inc. now owns 1,306,132 shares of the textile maker’s stock worth $265,262,000 after buying an additional 78,623 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Deckers Outdoor by 929.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,296,894 shares of the textile maker’s stock valued at $206,790,000 after purchasing an additional 1,170,855 shares during the period. Hedge funds and other institutional investors own 97.79% of the company’s stock.

Deckers Outdoor Price Performance

DECK stock opened at $118.01 on Friday. Deckers Outdoor Co. has a 1-year low of $112.10 and a 1-year high of $223.98. The company has a market capitalization of $17.91 billion, a price-to-earnings ratio of 19.13, a PEG ratio of 1.68 and a beta of 1.10. The business has a 50 day simple moving average of $162.23 and a two-hundred day simple moving average of $165.33.

Deckers Outdoor (NYSE:DECK) last posted its quarterly earnings results on Thursday, February 6th. The textile maker reported $3.00 earnings per share for the quarter, topping the consensus estimate of $2.44 by $0.56. Deckers Outdoor had a return on equity of 41.71% and a net margin of 19.14%. Sell-side analysts anticipate that Deckers Outdoor Co. will post 5.89 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on DECK. Needham & Company LLC restated a “buy” rating and set a $246.00 price target on shares of Deckers Outdoor in a research note on Friday, January 31st. Stifel Nicolaus boosted their price target on Deckers Outdoor from $181.00 to $185.00 and gave the company a “hold” rating in a research note on Friday, January 31st. KeyCorp boosted their price target on Deckers Outdoor from $213.00 to $230.00 and gave the company an “overweight” rating in a research note on Thursday, January 23rd. Evercore ISI boosted their price target on Deckers Outdoor from $195.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday, January 9th. Finally, Citigroup upgraded Deckers Outdoor from a “neutral” rating to a “buy” rating and set a $215.00 price target for the company in a research note on Friday, February 7th. Nine research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, Deckers Outdoor presently has a consensus rating of “Moderate Buy” and an average price target of $197.41.

Insiders Place Their Bets

In other news, Director David Powers sold 25,000 shares of the stock in a transaction that occurred on Friday, February 28th. The stock was sold at an average price of $138.84, for a total transaction of $3,471,000.00. Following the completion of the transaction, the director now directly owns 241,777 shares in the company, valued at approximately $33,568,318.68. This represents a 9.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Maha Saleh Ibrahim sold 300 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $134.48, for a total value of $40,344.00. Following the transaction, the director now owns 10,388 shares of the company’s stock, valued at $1,396,978.24. This represents a 2.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.40% of the stock is currently owned by corporate insiders.

Deckers Outdoor Company Profile

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.