Ethic Inc. Purchases Shares of 5,568 Birkenstock Holding plc (NYSE:BIRK)

Ethic Inc. bought a new stake in shares of Birkenstock Holding plc (NYSE:BIRK - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 5,568 shares of the company's stock, valued at approximately $315,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of BIRK. Signaturefd LLC lifted its position in Birkenstock by 642.6% in the fourth quarter. Signaturefd LLC now owns 505 shares of the company's stock worth $29,000 after buying an additional 437 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Birkenstock during the 4th quarter valued at about $34,000. NewEdge Advisors LLC bought a new position in shares of Birkenstock during the fourth quarter valued at approximately $45,000. Quarry LP increased its holdings in Birkenstock by 120.3% during the fourth quarter. Quarry LP now owns 1,097 shares of the company's stock valued at $62,000 after buying an additional 599 shares during the period. Finally, Headlands Technologies LLC bought a new position in shares of Birkenstock in the 4th quarter worth $76,000. Hedge funds and other institutional investors own 19.93% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on BIRK. BTIG Research boosted their target price on Birkenstock from $70.00 to $72.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Stifel Nicolaus increased their price target on Birkenstock from $62.00 to $70.00 and gave the stock a "buy" rating in a research report on Friday. Piper Sandler lowered their price objective 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 price objective on Birkenstock from $70.00 to $75.00 and gave the company an "outperform" rating in a report on Friday. Finally, UBS Group upped their price target on Birkenstock from $72.00 to $76.00 and gave the company a "buy" rating in a research report on Friday. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $67.19.

Birkenstock Stock Performance

BIRK traded up $0.27 on Tuesday, reaching $56.35. The company had a trading volume of 1,657,995 shares, compared to its average volume of 1,484,913. 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 Holding plc has a 1 year low of $40.56 and a 1 year high of $64.78. The stock has a market capitalization of $10.58 billion, a PE ratio of 45.44, a P/E/G ratio of 1.02 and a beta of 1.56. The stock has a 50-day moving average price of $48.51 and a 200-day moving average price of $51.79.

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