D. E. Shaw & Co. Inc. Cuts Position in Birkenstock Holding plc (NYSE:BIRK)

D. E. Shaw & Co. Inc. reduced its position in shares of Birkenstock Holding plc (NYSE:BIRK - Free Report) by 51.0% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 230,970 shares of the company's stock after selling 240,056 shares during the quarter. D. E. Shaw & Co. Inc. owned about 0.12% of Birkenstock worth $13,087,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. T. Rowe Price Investment Management Inc. grew its stake in shares of Birkenstock by 5.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,124,254 shares of the company's stock worth $233,681,000 after buying an additional 194,622 shares in the last quarter. Bamco Inc. NY grew its position in Birkenstock by 8.3% in the fourth quarter. Bamco Inc. NY now owns 3,359,351 shares of the company's stock worth $190,341,000 after acquiring an additional 256,844 shares in the last quarter. Norges Bank bought a new stake in Birkenstock during the fourth quarter worth approximately $131,786,000. Capital World Investors raised its position in Birkenstock by 1.1% during the fourth quarter. Capital World Investors now owns 1,490,366 shares of the company's stock valued at $84,444,000 after purchasing an additional 16,466 shares during the period. Finally, Alliancebernstein L.P. lifted its stake in shares of Birkenstock by 27.2% in the 4th quarter. Alliancebernstein L.P. now owns 1,342,214 shares of the company's stock valued at $76,050,000 after purchasing an additional 286,618 shares during the last quarter. 19.93% of the stock is owned by hedge funds and other institutional investors.

Birkenstock Stock Up 1.8%

Shares of NYSE:BIRK opened at $54.23 on Wednesday. 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 $10.19 billion, a P/E ratio of 43.73, a price-to-earnings-growth ratio of 1.02 and a beta of 1.56. The business's 50 day moving average is $47.63 and its 200 day moving average is $51.50. 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 released its quarterly earnings data on Thursday, February 20th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.03. Birkenstock had a return on equity of 9.52% and a net margin of 11.73%. The firm had revenue of $385.88 million during the quarter, compared to the consensus estimate of $355.80 million. Sell-side analysts predict that Birkenstock Holding plc will post 1.77 EPS for the current year.

Analyst Upgrades and Downgrades

BIRK has been the topic of several analyst reports. Piper Sandler cut 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. Telsey Advisory Group restated an "outperform" rating and issued a $70.00 target price on shares of Birkenstock in a report on Friday, May 9th. 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. Finally, UBS Group raised their price objective on shares of Birkenstock from $68.00 to $72.00 and gave the stock a "buy" rating in a research note on Monday, May 5th. 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 stock. According to data from MarketBeat, Birkenstock currently has an average rating of "Moderate Buy" and a consensus price target of $66.06.

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.

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