OLD National Bancorp IN Acquires Shares in Deckers Outdoor Co.

In the fourth quarter, OLD National Bancorp IN established a new position in Deckers Outdoor Co. (NYSE:DECK - Free Report), as indicated by its latest filing with the Securities & Exchange Commission. The fund purchased 1,474 shares valued at roughly $299,000.

Interest from Institutional Investors

Other institutional investors and hedge funds have also made adjustments to their holdings in Deckers Outdoor. Notably, FMR LLC increased its stake by 499.2% in the third quarter, now owning 22,869,485 shares worth about $3.65 billion after acquiring an additional 19,053,113 shares. State Street Corp also significantly raised its holdings by 513.8%, ending up with 6,584,305 shares valued at $1.05 billion following a purchase of 5,511,513 shares.
On another note, Geode Capital Management LLC expanded its position by 509.1%, coming to own 4,059,919 shares valued at $646 million after buying 3,393,420 shares. Additionally, JPMorgan Chase & Co. boosted its stake by an impressive 929.0%, now holding 1,296,894 shares valued at $206.79 million after acquiring 1,170,855 shares. Lastly, UBS Asset Management increased its shareholding by 529.0%, owning 1,277,355 shares now valued at approximately $203.67 million after purchasing 1,074,263 shares. Collectively, institutional investors own around 97.79% of the company's stock.

Insider Transactions

Recently, there has been notable insider trading as well. On December 11, CEO Caroti Stefano sold 14,274 shares at an average price of $208.34, amounting to $2,973,845.16. Post-sale, he retains ownership of 259,266 shares, valued at around $54 million. This sale represented a decrease of 5.22% in his holdings. The transaction was recorded in an SEC filing.
Also, CFO Steven J. Fasching sold 8,802 shares on November 8, fetching an average price of $175.00, totaling $1,540,350.00. After this sale, he holds 153,036 shares valued at $26.78 million, reflecting a 5.44% decrease in his ownership. Over the last three months, insiders have sold a total of 73,758 shares worth $13.51 million, while corporate insiders retain a mere 0.40% ownership of Deckers Outdoor stock.

Analyst Ratings and Targets

Deckers Outdoor has attracted attention from various research analysts. Recently, UBS Group increased its price target from $267.00 to $284.00 while giving it a "buy" rating. Guggenheim reaffirmed a "neutral" rating, while Robert W. Baird raised its target from $195.00 to $225.00 with an "outperform" rating. In addition, Needham & Company LLC reiterated a "buy" rating with a price objective of $246.00. Lastly, Barclays upgraded their target price from $190.00 to $231.00 and assigned an "overweight" rating to the stock. Currently, 10 analysts rate the stock as a hold, while another 10 give it a buy recommendation. According to MarketBeat.com, Deckers Outdoor holds an average rating of "Moderate Buy" with a consensus target price of $197.41.

Deckers Outdoor's Stock Performance

On the trading day, shares of Deckers Outdoor opened at $177.85. The company has witnessed a fifty-two week range from a low of $125.15 to a high of $223.98. The stock’s 50-day moving average stands at $205.90, whereas its 200-day moving average is at $137.68. The overall market capitalization is approximately $27.02 billion, with a P/E ratio of 31.27 and a beta of 1.08.

In its latest quarterly earnings report released on February 6, Deckers Outdoor announced an EPS of $3.00, exceeding analyst expectations of $2.44 by $0.56. The company demonstrated a return on equity of 41.48% and a net profit margin of 18.95%. Analysts expect the company to achieve around $5.62 EPS for the ongoing year.

Company Overview

Deckers Outdoor Corporation is engaged in the design, marketing, and distribution of footwear, apparel, and accessories, catering to both casual lifestyles and high-performance activities. The company offers premium products under various brands such as UGG, HOKA, and Teva.

Investment, Stocks, Insider, Analysis, Performance