Shoe standout brand Deckers to join S&P 500
Shares of Goleta-based Deckers have been on fire over the past year, up 115%, and riding behind that momentum the company’s stock will now be on the S&P 500 index, according to the S&P Dow Jones Indices.
Announced Feb. 29, Deckers will join the S&P 500 on March 18, alongside data-service provider Super Micro Computer Inc.
The two are replacing Whirlpool Corp. and Zions Bancorporation, which will move to the S&P MidCap 400 index.
Deckers, the maker of popular footwear brands Ugg and Hoka One One, is valued at about $23 billion as of March 4. Shares of the company gained 67% in fiscal year 2023 and are up another 38.4% so far this year.
Shares of Deckers were up as much as 5% during the trading day March 4, with the stock price hovering above $930 a share.
Deckers and Super Micro will join the index before the market’s opening bell on March 18.
“The changes ensure each index is more representative of its market capitalization range,” S&P Dow Jones Indices said.
“All companies being added to the S&P 500 are more representative of the large-cap market space while all companies being added to the S&P MidCap 400 are more representative of the mid-cap market space.”
email: jmercado@pacbiztimes.com
