175,000 Shares in Birkenstock Holding plc (NYSE:BIRK) Bought by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. bought a new position in shares of Birkenstock Holding plc (NYSE:BIRK - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 175,000 shares of the company's stock, valued at approximately $9,916,000. Adage Capital Partners GP L.L.C. owned 0.09% of Birkenstock as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in BIRK. Hood River Capital Management LLC purchased a new stake in Birkenstock in the fourth quarter worth $337,000. Symmetry Investments LP grew its position in shares of Birkenstock by 43.5% in the 4th quarter. Symmetry Investments LP now owns 51,300 shares of the company's stock worth $2,907,000 after buying an additional 15,560 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in Birkenstock by 5.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,124,254 shares of the company's stock valued at $233,681,000 after acquiring an additional 194,622 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Birkenstock by 1,084.5% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 126,596 shares of the company's stock valued at $7,174,000 after acquiring an additional 115,908 shares during the period. Finally, Oxbow Capital Management HK Ltd purchased a new stake in Birkenstock in the fourth quarter worth about $10,029,000. Institutional investors own 19.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on BIRK shares. Telsey Advisory Group reissued an "outperform" rating and issued a $70.00 target price on shares of Birkenstock in a research note on Thursday, February 20th. Piper Sandler decreased their target price on shares of Birkenstock from $70.00 to $60.00 and set an "overweight" rating for the company in a report on Friday, April 11th. Finally, Stifel Nicolaus cut their price target on shares of Birkenstock from $70.00 to $62.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $67.50.

Birkenstock Stock Performance

BIRK stock traded up $0.97 during midday trading on Friday, reaching $51.49. 1,130,755 shares of the company's stock traded hands, compared to its average volume of 1,716,030. The company has a current ratio of 2.84, a quick ratio of 1.08 and a debt-to-equity ratio of 0.48. Birkenstock Holding plc has a 52-week low of $40.56 and a 52-week high of $64.78. The stock has a market cap of $9.67 billion, a P/E ratio of 41.52, a PEG ratio of 1.02 and a beta of 1.71. The stock's 50-day moving average is $47.02 and its 200 day moving average is $51.38.

Birkenstock (NYSE:BIRK - Get Free Report) last announced its earnings results on Thursday, February 20th. The company reported $0.19 EPS for the quarter, topping analysts' consensus estimates of $0.16 by $0.03. Birkenstock had a return on equity of 9.52% and a net margin of 11.73%. The company had revenue of $385.88 million for the quarter, compared to analysts' expectations of $355.80 million. As a group, analysts anticipate that Birkenstock Holding plc will post 1.77 EPS for the current year.

Birkenstock Profile

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.