ExodusPoint Capital Management LP, a finance firm widely regarded for its innovative investment strategies, has added to its stakes in Deckers Outdoor Corp. by a significant margin of 269.3%. According to the latest filing with the Securities and Exchange Commission, ExodusPoint recently purchased an additional 45,513 shares of Deckers Outdoor stock during the fourth quarter period. This move resulted in ExodusPoint holding a total of 62,411 shares of the textile maker’s stock. At the end of this financial year’s most recent quarter, the stakes acquired by ExodusPoint were valued at $24,912,000 – accounting for approximately 0.24% of Deckers Outdoor’s overall worth.
Deckers Outdoor Corp., renowned and respected as a market leader in manufacturing footwear, apparel and accessories aimed at daily wearability as well as high-performance activities across its six sub-brands: UGG Brand; HOKA Brand; Teva Brand; Sanuk Brand; Other Brands; and Direct-to-Consumer.
In recent months, DECK has been a subject carrying an immense number of positive research reports from various sources across Asia and Europe. Ratings upgrades have pushed this outdoor clothing manufacturer into “Moderate Buy” territory while analysts earmark DECK for further highs thanks to its robust portfolio highlighting longevity and versatility in an increasingly competitive industry.
Stifel Nicolaus led reports boosting Deckers Outdoor’s stocks with their target price raised to $550 whilst awarding the company with a “buy” rating on April 17th earlier this year. Piper Sandler also upped DECK’s price objective from $485 to $535 giving it an “overweight” recommendation early in April before establishing it as one of the high-value stocks on NASDAQ.
The affirmation was reiterated again when Cowen boosted their target price on Deckers Outdoor from $476 to $480 citing excellent performance earnings that highlight DECK’s intrinsic value. Despite being recommended with a “hold” rating earlier this month by StockNews.com, the trend for DECK points to a higher achievement rate allowing it to outperform the NASDAQ market average over sustained periods.
Modern-day investors are always on the lookout for valuable and rewarding mannerisms that have precedence in an ever-changing economic climate. It appears as though Deckers Outdoor might be one of those long-term options that could provide just about everyone with what they’re chasing – solid returns and above-average earnings potential.
[bs_slider_forecast ticker=”DECK”]
Deckers Outdoor Corp Continues to Thrive with Massive Investment from Financial Institutions
Deckers Outdoor Corp, a company specializing in the design and distribution of shoes, clothes, and travel accessories for everyday use and high-performance activities, appears to be thriving as massive financial institutions continually increased their holdings in the company’s stock.
Credit Suisse AG now owns 31,494 shares, an increase of 27.4% from the last quarter. Geode Capital Management LLC controls over 355,157 stocks’ worth $141,764,000 after acquiring an additional 18,412 shares over Q4. Similarly, American Century Companies Inc holds 617,003 shares of Deckers Outdoors with a value of $246,283 million after getting an additional 36k+ pieces during the same period.
An inspection of regulatory filings by Commonwealth of Pennsylvania Public School Empls Retrmt SYS reveals a 13.2% hike in its holdings in Q4 to reach 11k+ stocks worth $4.8 million. At the same time, Atria Wealth Solutions gained a position in Deckers Outdoor by snagging an additional approximately one thousand shares from the textile maker’s stock valued at $693k.
Interestingly enough, this recent influx doesn’t make up much compared to the total ownership distribution between hedge funds and large-scale investors: 98.87% is owned by institutional investors and hedge funds at present.
In other news involving Deckers Outdoor Corp., Angela Ogbechie sold almost four hundred shares on Wednesday May 31st for an estimated total transactional value of $177k+ based on average share prices ($474.44). Following her sale activity; however became insiders subjecting her directly linked assets that she has still retained with those within Deckers Outdoor that are currently valued at around $1.3 million via SEC disclosure requirements.
Back to the financial data side; recently published earnings results by Deckers Outdoor confirm positive outcomes through impeccable curation and product offerings that solidify an excellent and satisfactory shopping experience. For Q1, the textile maker reported earnings per share (EPS) of $3.46; however, this surpassed analysts’ forecasts by an impressive eighty-five cents- which exceeded all closely monitored projections for public scrutiny. Meanwhile, it is notable that Deckers Outdoor’s return on equity also exceeded reasonable expectations for the industry at 31.77% with a net margin of 14.28%. Combined, these positive results indicate that the company is doing very well in terms of profitability and growth.
Given Deckers Outdoor’s continued success, it’s unsurprising to observe high levels of investment in its products from institutional investors and hedge funds despite its share prices increasing towards $500 per unit in recent weeks. The company’s potential seems limitless considering their commitment to providing exceptional quality for any consumer looking to feel empowered during everyday casual-lifestyle use or high-performance activities. Many investors betting big on this company appear confident that they can continue to deliver value through delivering unique solutions to consumers across many different spectrums who are willing to pay a premium price point based on their array of offerings.