The London Company, an investment management company, released “The London Company SMID Cap Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. In the fourth quarter, the fund increased 15.2% (15% net) compared to a 13.4% gain for the Russell 2500 Index. The outperformance was due to both stock selection and sector exposure. The portfolio generated a solid relative and absolute performance in the fourth quarter. In addition, you can check the top 5 holdings of the fund to know its best picks in 2023.
The London Company SMID Cap Strategy featured stocks such as Deckers Outdoor Corporation (NYSE:DECK) in the fourth quarter 2023 investor letter. Headquartered in Goleta, California, Deckers Outdoor Corporation (NYSE:DECK) designs manufactures, and markets footwear, apparel, and accessories. On February 8, 2024, Deckers Outdoor Corporation (NYSE:DECK) stock closed at $832.42 per share. One-month return of Deckers Outdoor Corporation (NYSE:DECK) was 17.79%, and its shares gained 100.81% of their value over the last 52 weeks. Deckers Outdoor Corporation (NYSE:DECK) has a market capitalization of $21.367 billion.
The London Company SMID Cap Strategy stated the following regarding Deckers Outdoor Corporation (NYSE:DECK) in its fourth quarter 2023 investor letter:
“Deckers Outdoor Corporation (NYSE:DECK) – 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 stays focused on acquiring and retaining customers. The company 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. As per our database, 42 hedge fund portfolios held Deckers Outdoor Corporation (NYSE:DECK) at the end of third quarter which was 47 in the previous quarter.
We discussed Deckers Outdoor Corporation (NYSE:DECK) in another article and shared FPA Queens Road Small Cap Value Fund’s views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q4 2023 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.
