5 Unstoppable Stocks That Will Make You Richer

In this article, we discuss the 5 unstoppable stocks that will make you richer. To read the detailed analysis of the economy and market, go directly to the 10 Unstoppable Stocks That Will Make You Richer.

5. Deckers Outdoor Corporation (NYSE:DECK)

Price Target Upside: 15.49%

Year-to-date Gain as of April 11: 21.65%

Number of Hedge Fund Holders: 38

Deckers Outdoor Corporation (NYSE:DECK) is a designer and distributor of footwear, apparel, and accessories under its brands, Koolaburra by UGG, HOKA, UGG, Ahnu, etc. The stock is 21.65% higher year-to-date, as of April 11.

In the fourth quarter of 2023, 38 hedge funds held positions in Deckers Outdoor Corporation (NYSE:DECK) worth $769.975 million. As of December 31, 2023, Marshall Wace LLP is the largest shareholder in the company. The firm has increased its stake in the company by 210% to 404,745 shares worth $270.543 million.

Over the past 3 months, the stock has received Buy ratings from 12 Wall Street analysts. The average price target of $947.00 has an upside of 15.49% from the current levels, as of April 11.

First Pacific Advisors stated the following regarding Deckers Outdoor Corporation (NYSE:DECK) in its fourth quarter 2023 investor letter:

“Deckers Outdoor Corporation (NYSE:DECK) is a footwear and apparel company that owns the UGG, Hoka, Teva, Sanuk, and Koolaburra brands. Management has done a masterful job growing and extending the UGG franchise. Now they are repeating their success with Hoka running shoes which surpassed $1 billion in sales last year.21 At nearly thirty times earnings (as of Dec. 31, 2023), we have weighed Deckers’ valuation against the quality of its management team, strong brands, and net cash balance sheet and remain comfortable with the Fund’s current position.

We first bought a small position in Deckers in 2015 and 2016 when the company was struggling with supply chain issues. The stock is up more than ten times since then on excellent performance and a broadening of the brand portfolio away from UGG. We have trimmed along the way, but even after the company’s exceptional financial performance and growth, we think the stock still trades in the range of reasonableness.”