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

Norges Bank purchased a new stake in Deckers Outdoor Co. (NYSE:DECK - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 1,933,047 shares of the textile maker's stock, valued at approximately $392,583,000. Norges Bank owned 1.27% of Deckers Outdoor as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Global Trust Asset Management LLC acquired a new stake in Deckers Outdoor during the 4th quarter worth approximately $31,000. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Deckers Outdoor by 250.0% during the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 168 shares of the textile maker's stock worth $34,000 after buying an additional 120 shares in the last quarter. Brooklyn Investment Group bought a new stake in shares of Deckers Outdoor in the third quarter valued at about $36,000. Fortitude Family Office LLC grew its stake in shares of Deckers Outdoor by 825.0% in the fourth quarter. Fortitude Family Office LLC now owns 222 shares of the textile maker's stock valued at $45,000 after acquiring an additional 198 shares in the last quarter. Finally, Rakuten Securities Inc. increased its position in Deckers Outdoor by 59.8% during the fourth quarter. Rakuten Securities Inc. now owns 350 shares of the textile maker's stock worth $71,000 after acquiring an additional 131 shares during the period. 97.79% of the stock is currently owned by institutional investors and hedge funds.

Deckers Outdoor Trading Down 17.8 %

Deckers Outdoor stock traded down $20.98 during mid-day trading on Thursday, reaching $97.00. The company had a trading volume of 2,845,388 shares, compared to its average volume of 2,306,495. The business has a fifty day simple moving average of $147.53 and a 200 day simple moving average of $170.49. The company has a market cap of $14.72 billion, a P/E ratio of 15.73, a P/E/G ratio of 1.68 and a beta of 1.10. Deckers Outdoor Co. has a fifty-two week low of $96.89 and a fifty-two week high of $223.98.

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Deckers Outdoor (NYSE:DECK - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The textile maker reported $3.00 earnings per share for the quarter, beating 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%. Research analysts forecast that Deckers Outdoor Co. will post 5.89 EPS for the current year.

Analyst Ratings Changes

DECK has been the topic of a number of analyst reports. KeyCorp increased their target price on shares of Deckers Outdoor from $213.00 to $230.00 and gave the stock an "overweight" rating in a research report on Thursday, January 23rd. Robert W. Baird raised their price objective on Deckers Outdoor from $195.00 to $225.00 and gave the stock an "outperform" rating in a research note on Friday, December 6th. Barclays lifted their price objective on Deckers Outdoor from $190.00 to $231.00 and gave the company an "overweight" rating in a report on Friday, January 31st. Citigroup upgraded Deckers Outdoor from a "neutral" rating to a "buy" rating and set a $215.00 price target on the stock in a research report on Friday, February 7th. Finally, Stifel Nicolaus upped their price objective on shares of Deckers Outdoor from $181.00 to $185.00 and gave the stock a "hold" rating in a research report on Friday, January 31st. Nine equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $197.41.

Insider Activity

In other news, Director David Powers sold 25,000 shares of the firm's 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 of the company's stock, valued at approximately $33,568,318.68. This trade represents a 9.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Maha Saleh Ibrahim sold 300 shares of the business's stock in a transaction on Thursday, March 6th. The stock was 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 directly owns 10,388 shares in the company, valued at approximately $1,396,978.24. This represents a 2.81 % decrease in their position. The disclosure for this sale can be found here. 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.