Harvey Partners LLC Makes New Investment in Deckers Outdoor Corporation $DECK

Harvey Partners LLC purchased a new stake in Deckers Outdoor Corporation (NYSE:DECK) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 100,000 shares of the textile maker’s stock, valued at approximately $10,137,000. Harvey Partners LLC owned 0.07% of Deckers Outdoor as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in DECK. Norges Bank purchased a new stake in Deckers Outdoor in the second quarter valued at approximately $223,036,000. Viking Global Investors LP purchased a new position in shares of Deckers Outdoor during the third quarter worth $175,058,000. Federated Hermes Inc. boosted its position in shares of Deckers Outdoor by 46.5% during the second quarter. Federated Hermes Inc. now owns 1,705,634 shares of the textile maker’s stock worth $175,800,000 after buying an additional 541,657 shares during the period. Invesco Ltd. grew its stake in shares of Deckers Outdoor by 19.4% in the second quarter. Invesco Ltd. now owns 2,781,218 shares of the textile maker’s stock valued at $286,660,000 after buying an additional 452,081 shares in the last quarter. Finally, Man Group plc grew its stake in shares of Deckers Outdoor by 106.1% in the third quarter. Man Group plc now owns 862,318 shares of the textile maker’s stock valued at $87,413,000 after buying an additional 443,843 shares in the last quarter. 97.79% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Deckers Outdoor

In related news, Director Lauri M. Shanahan sold 4,682 shares of the company’s stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $114.84, for a total transaction of $537,680.88. Following the sale, the director directly owned 25,026 shares in the company, valued at approximately $2,873,985.84. This represents a 15.76% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Anne Spangenberg sold 4,063 shares of the firm’s stock in a transaction that occurred on Friday, February 13th. The shares were sold at an average price of $116.02, for a total transaction of $471,389.26. Following the completion of the sale, the insider directly owned 80,449 shares in the company, valued at approximately $9,333,692.98. This trade represents a 4.81% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 9,092 shares of company stock valued at $1,048,552. 0.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on DECK shares. Barclays reissued an “overweight” rating and set a $143.00 target price (up from $113.00) on shares of Deckers Outdoor in a research note on Friday, January 30th. Truist Financial set a $132.00 target price on Deckers Outdoor in a research report on Friday, January 30th. UBS Group reiterated a “buy” rating and set a $161.00 price target (up from $157.00) on shares of Deckers Outdoor in a research note on Friday, January 30th. Wells Fargo & Company set a $110.00 price target on shares of Deckers Outdoor and gave the stock an “equal weight” rating in a research report on Friday, January 30th. Finally, Robert W. Baird reissued a “neutral” rating and issued a $125.00 price objective on shares of Deckers Outdoor in a research note on Wednesday, January 7th. Three research analysts have rated the stock with a Strong Buy rating, ten have assigned a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $125.20.

Deckers Outdoor Trading Up 0.1%

NYSE:DECK opened at $100.81 on Monday. Deckers Outdoor Corporation has a 12-month low of $78.91 and a 12-month high of $133.43. The firm has a market cap of $14.31 billion, a PE ratio of 14.24, a price-to-earnings-growth ratio of 2.30 and a beta of 1.15. The stock has a fifty day moving average price of $108.88 and a 200 day moving average price of $102.90.

Deckers Outdoor (NYSE:DECK) last issued its quarterly earnings results on Thursday, January 29th. The textile maker reported $3.33 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.56. The company had revenue of $1.96 billion for the quarter, compared to the consensus estimate of $1.87 billion. Deckers Outdoor had a return on equity of 41.60% and a net margin of 19.46%.Deckers Outdoor’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.00 EPS. Equities analysts forecast that Deckers Outdoor Corporation will post 5.89 EPS for the current year.

Deckers Outdoor Profile

Deckers Outdoor Corporation is a global designer, marketer and distributor of footwear, apparel and accessories. The company’s product portfolio includes well‐known brands such as UGG, HOKA, Teva, Sanuk and Koolaburra by UGG, spanning a range of lifestyle, performance and outdoor categories. Deckers leverages a blend of proprietary manufacturing, strategic brand storytelling and direct‐to‐consumer retail to serve both fashion‐focused and performance‐oriented customers.

Founded in 1973 by Doug Otto and Karl F.