Point72 Hong Kong Ltd Invests $377,000 in Birkenstock Holding plc (NYSE:BIRK)

Point72 Hong Kong Ltd purchased a new position in shares of Birkenstock Holding plc (NYSE:BIRK - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 6,659 shares of the company's stock, valued at approximately $377,000.

A number of other institutional investors and hedge funds have also made changes to their positions in BIRK. Legal & General Group Plc boosted its stake in shares of Birkenstock by 12.3% during the 4th quarter. Legal & General Group Plc now owns 3,158 shares of the company's stock worth $179,000 after acquiring an additional 347 shares in the last quarter. Malaga Cove Capital LLC raised its holdings in shares of Birkenstock by 3.5% during the fourth quarter. Malaga Cove Capital LLC now owns 12,108 shares of the company's stock worth $686,000 after acquiring an additional 407 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Birkenstock by 642.6% during the fourth quarter. Signaturefd LLC now owns 505 shares of the company's stock worth $29,000 after acquiring an additional 437 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Birkenstock during the fourth quarter worth $34,000. Finally, Quarry LP raised its holdings in shares of Birkenstock by 120.3% during the fourth quarter. Quarry LP now owns 1,097 shares of the company's stock worth $62,000 after acquiring an additional 599 shares in the last quarter. 19.93% of the stock is currently owned by institutional investors and hedge funds.

Birkenstock Price Performance

Shares of BIRK traded down $0.26 on Thursday, hitting $54.75. The company's stock had a trading volume of 288,523 shares, compared to its average volume of 1,487,469. The company has a market capitalization of $10.28 billion, a PE ratio of 44.17, a PEG ratio of 1.02 and a beta of 1.56. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.84 and a quick ratio of 1.08. Birkenstock Holding plc has a fifty-two week low of $40.56 and a fifty-two week high of $64.78. The company has a 50 day moving average price of $48.99 and a 200 day moving average price of $51.84.

Birkenstock (NYSE:BIRK - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The company reported $0.58 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.01. The business had revenue of $623.54 million during the quarter, compared to analysts' expectations of $567.84 million. Birkenstock had a net margin of 11.73% and a return on equity of 9.52%. The firm's quarterly revenue was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.38 EPS. On average, research analysts anticipate that Birkenstock Holding plc will post 1.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on BIRK. Telsey Advisory Group reiterated an "outperform" rating and set a $70.00 price objective on shares of Birkenstock in a report on Thursday, May 15th. Piper Sandler cut their target price on Birkenstock from $70.00 to $60.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. BMO Capital Markets raised their target price on Birkenstock from $70.00 to $75.00 and gave the company an "outperform" rating in a report on Friday, May 16th. BTIG Research raised their target price on Birkenstock from $70.00 to $72.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Finally, UBS Group raised their target price on Birkenstock from $72.00 to $76.00 and gave the company a "buy" rating in a report on Friday, May 16th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Birkenstock has an average rating of "Moderate Buy" and an average price target of $67.19.

About Birkenstock

Birkenstock Holding plc manufactures and sells footwear products. It also offers sandals, shoes, closed-toe silhouettes, skincare products, and accessories. The company sells its products through e-commerce sites and a network of owned retail stores, as well as business-to-business channels. It operates in the United States, Brazil, Canada, Mexico, Europe, APMA, and internationally.