Corton Capital Inc. Acquires New Position in Birkenstock Holding plc (NYSE:BIRK)

Corton Capital Inc. acquired a new stake in shares of Birkenstock Holding plc (NYSE:BIRK - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 7,622 shares of the company's stock, valued at approximately $432,000. Birkenstock makes up approximately 0.2% of Corton Capital Inc.'s investment portfolio, making the stock its 26th biggest holding.

Several other large investors have also recently modified their holdings of the company. Norges Bank acquired a new position in Birkenstock in the fourth quarter valued at approximately $131,786,000. Marshall Wace LLP boosted its stake in shares of Birkenstock by 260.5% during the 4th quarter. Marshall Wace LLP now owns 1,100,692 shares of the company's stock worth $62,365,000 after acquiring an additional 795,382 shares in the last quarter. AGF Management Ltd. acquired a new stake in shares of Birkenstock during the 4th quarter valued at about $37,153,000. AXA S.A. purchased a new position in shares of Birkenstock in the 4th quarter valued at about $29,050,000. Finally, Arrowstreet Capital Limited Partnership raised its stake in Birkenstock by 9,658.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 470,182 shares of the company's stock valued at $26,641,000 after purchasing an additional 465,364 shares during the last quarter. Institutional investors own 19.93% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. UBS Group upped their price objective on shares of Birkenstock from $68.00 to $72.00 and gave the company a "buy" rating in a report on Monday. Telsey Advisory Group reissued an "outperform" rating and set a $70.00 target price on shares of Birkenstock in a research report on Friday. Stifel Nicolaus decreased their price target on shares of Birkenstock from $70.00 to $62.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Finally, Piper Sandler dropped their target price on Birkenstock from $70.00 to $60.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $66.06.

Birkenstock Stock Performance

Shares of Birkenstock stock traded down $0.61 during trading on Friday, reaching $51.86. The company's stock had a trading volume of 25,490 shares, compared to its average volume of 1,405,447. Birkenstock Holding plc has a 52 week low of $40.56 and a 52 week high of $64.78. The firm has a market cap of $9.74 billion, a PE ratio of 41.82, a P/E/G ratio of 1.02 and a beta of 1.56. The business's 50-day moving average price is $47.26 and its 200-day moving average price is $51.42. The company has a quick ratio of 1.08, a current ratio of 2.84 and a debt-to-equity ratio of 0.48.

Birkenstock (NYSE:BIRK - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.03. The business had revenue of $385.88 million for the quarter, compared to analyst estimates of $355.80 million. Birkenstock had a net margin of 11.73% and a return on equity of 9.52%. Equities analysts forecast that Birkenstock Holding plc will post 1.77 earnings per share 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.