Norges Bank Invests $392.58 Million in Deckers Outdoor Co. (NYSE:DECK)

Norges Bank purchased a new stake in shares of Deckers Outdoor Co. (NYSE:DECK) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,933,047 shares of the textile maker’s stock, valued at approximately $392,583,000. Norges Bank owned about 1.27% of Deckers Outdoor as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of Deckers Outdoor by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 17,639,783 shares of the textile maker’s stock valued at $3,582,464,000 after buying an additional 229,807 shares in the last quarter. State Street Corp increased 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 valued at $1,049,867,000 after acquiring an additional 5,511,513 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Deckers Outdoor by 509.1% in the third quarter. Geode Capital Management LLC now owns 4,059,919 shares of the textile maker’s stock worth $646,316,000 after acquiring an additional 3,393,420 shares during the last quarter. American Century Companies Inc. lifted its position in shares of Deckers Outdoor by 6.4% during the fourth quarter. American Century Companies Inc. now owns 1,306,132 shares of the textile maker’s stock worth $265,262,000 after purchasing an additional 78,623 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Deckers Outdoor by 929.0% during the third 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 last quarter. 97.79% of the stock is currently owned by institutional investors and hedge funds.

Deckers Outdoor Stock Performance

Shares of DECK stock opened at $111.53 on Friday. Deckers Outdoor Co. has a 52 week low of $110.75 and a 52 week high of $223.98. The company’s 50 day moving average price is $153.46 and its two-hundred day moving average price is $168.63. The company has a market capitalization of $16.93 billion, a P/E ratio of 18.08, a price-to-earnings-growth ratio of 1.68 and a beta of 1.10.

Deckers Outdoor (NYSE:DECK) last issued its quarterly earnings data on Thursday, February 6th. The textile maker reported $3.00 EPS for the quarter, topping analysts’ consensus estimates of $2.44 by $0.56. Deckers Outdoor had a net margin of 19.14% and a return on equity of 41.71%. Analysts forecast that Deckers Outdoor Co. will post 5.89 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on DECK shares. Evercore ISI increased their price objective on Deckers Outdoor from $195.00 to $235.00 and gave the company an “outperform” rating in a research report on Thursday, January 9th. Bank of America lifted their price objective on Deckers Outdoor from $182.00 to $217.00 and gave the stock a “neutral” rating in a research report on Thursday, January 23rd. UBS Group boosted their price objective on Deckers Outdoor from $267.00 to $284.00 and gave the stock a “buy” rating in a report on Friday, January 31st. Stifel Nicolaus raised their target price on shares of Deckers Outdoor from $181.00 to $185.00 and gave the company a “hold” rating in a research note on Friday, January 31st. Finally, Robert W. Baird boosted their price target on shares of Deckers Outdoor from $195.00 to $225.00 and gave the stock an “outperform” rating in a research note on Friday, December 6th. Nine investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat.com, Deckers Outdoor has a consensus rating of “Moderate Buy” and a consensus price target of $197.41.

Insider Activity

In related news, Director David Powers sold 25,000 shares of the stock in a transaction on Friday, February 28th. The shares were 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 owns 241,777 shares in the company, valued at approximately $33,568,318.68. This represents a 9.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Maha Saleh Ibrahim sold 300 shares of Deckers Outdoor stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $134.48, for a total transaction of $40,344.00. Following the completion of the sale, the director now owns 10,388 shares in the company, valued at $1,396,978.24. The trade was a 2.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company’s stock.

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.