BNP Paribas Financial Markets Sells 56,635 Shares of Birkenstock Holding plc (NYSE:BIRK)

BNP Paribas Financial Markets cut its stake in shares of Birkenstock Holding plc (NYSE:BIRK - Free Report) by 29.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 136,633 shares of the company's stock after selling 56,635 shares during the quarter. BNP Paribas Financial Markets owned approximately 0.07% of Birkenstock worth $7,742,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in BIRK. Oak Thistle LLC bought a new position in shares of Birkenstock during the fourth quarter valued at $458,000. R Squared Ltd bought a new position in shares of Birkenstock in the fourth quarter valued at about $143,000. Renaissance Capital LLC raised its holdings in shares of Birkenstock by 94.0% in the fourth quarter. Renaissance Capital LLC now owns 82,190 shares of the company's stock valued at $4,657,000 after buying an additional 39,831 shares during the last quarter. True Vision MN LLC bought a new position in shares of Birkenstock in the fourth quarter valued at about $502,000. Finally, Vontobel Holding Ltd. bought a new position in shares of Birkenstock in the fourth quarter valued at about $461,000. 19.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on BIRK shares. BTIG Research lifted their price target on Birkenstock from $70.00 to $72.00 and gave the company a "buy" rating in a report on Thursday. UBS Group lifted their price target on Birkenstock from $72.00 to $76.00 and gave the company a "buy" rating in a report on Friday. Piper Sandler cut their price target on Birkenstock from $70.00 to $60.00 and set an "overweight" rating for the company in a report on Friday, April 11th. Stifel Nicolaus boosted their price objective on Birkenstock from $62.00 to $70.00 and gave the stock a "buy" rating in a report on Friday. Finally, Bank of America boosted their price objective on Birkenstock from $70.00 to $73.00 and gave the stock a "buy" rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $67.63.

Birkenstock Stock Down 1.7%

Shares of BIRK traded down $1.00 on Friday, hitting $56.70. The company's stock had a trading volume of 2,428,053 shares, compared to its average volume of 1,478,457. The company has a quick ratio of 1.08, a current ratio of 2.84 and a debt-to-equity ratio of 0.48. The firm's fifty day moving average price is $48.32 and its 200-day moving average price is $51.72. Birkenstock Holding plc has a fifty-two week low of $40.56 and a fifty-two week high of $64.78. The firm has a market capitalization of $10.65 billion, a price-to-earnings ratio of 45.73, a P/E/G ratio of 1.02 and a beta of 1.56.

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

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.