Deckers Outdoor Corporation (DECK) Continued its Strong Performance in Q1
The London Company, an investment management company, released “The London Company SMID Cap Strategy” first quarter 2024 investor letter. A copy of the letter can be downloaded here. US markets posted solid returns in Q1. The portfolio gained 9.4% (9.2% net) during the quarter compared to 6.9% returns for the Russell 2500 Index. Both stock selection and sector exposure led the portfolio to outperform in the quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2024.
The London Company SMID Cap Strategy featured stocks like Deckers Outdoor Corporation (NYSE:DECK) in the first quarter 2024 investor letter. Headquartered in Goleta, California, Deckers Outdoor Corporation (NYSE:DECK) designs manufactures, and markets footwear, apparel, and accessories. On May 3, 2024, Deckers Outdoor Corporation (NYSE:DECK) stock closed at $842.34 per share. One-month return of Deckers Outdoor Corporation (NYSE:DECK) was -4.27%, and its shares gained 73.59% of their value over the last 52 weeks. Deckers Outdoor Corporation (NYSE:DECK) has a market capitalization of $21.621 billion.
The London Company SMID Cap Strategy stated the following regarding Deckers Outdoor Corporation (NYSE:DECK) in its first quarter 2024 investor letter:
"Deckers Outdoor Corporation (NYSE:DECK) - DECK continued to produce strong performance in 1Q. DECK thoughtfully manages top brands in the footwear industry, which has allowed them to outperform other retailers in the current environment. UGG and HOKA are benefitting from brand heat, and management remains focused on acquiring and retaining customers. DECK continues to diversify revenue through the growth of HOKA (non-seasonal), and the expansion of UGG into new categories. The cash balance sheet with no debt provides an additional element of downside protection."
A customer browsing a retail store, finding the perfect footwear for their casual outfits.
Deckers Outdoor Corporation (NYSE:DECK) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, Deckers Outdoor Corporation (NYSE:DECK) was held by 38 hedge fund portfolios, down from 42 in the previous quarter, according to our database.
We previously discussed Deckers Outdoor Corporation (NYSE:DECK) in another article, where we shared the list of unstoppable stocks that will make you richer. In addition, please check out our hedge fund investor letters Q1 2024 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
