Kornitzer Capital Management Inc. KS Invests $4.59 Million in Birkenstock Holding PLC (NYSE:BIRK)

Kornitzer Capital Management Inc. KS purchased a new position in shares of Birkenstock Holding PLC (NYSE:BIRK - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 100,000 shares of the company's stock, valued at approximately $4,585,000. Kornitzer Capital Management Inc. KS owned 0.05% of Birkenstock as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Sigma Planning Corp purchased a new position in shares of Birkenstock in the 1st quarter valued at approximately $551,000. Signaturefd LLC grew its stake in shares of Birkenstock by 66.5% in the 1st quarter. Signaturefd LLC now owns 841 shares of the company's stock valued at $39,000 after purchasing an additional 336 shares during the last quarter. CWM LLC grew its stake in shares of Birkenstock by 34.8% in the 1st quarter. CWM LLC now owns 3,133 shares of the company's stock valued at $144,000 after purchasing an additional 809 shares during the last quarter. New York State Common Retirement Fund grew its stake in shares of Birkenstock by 288.4% in the 1st quarter. New York State Common Retirement Fund now owns 87,054 shares of the company's stock valued at $3,991,000 after purchasing an additional 64,639 shares during the last quarter. Finally, LBP AM SA purchased a new position in shares of Birkenstock in the 1st quarter valued at approximately $23,658,000. Institutional investors and hedge funds own 19.93% of the company's stock.

Birkenstock Price Performance

BIRK traded down $0.18 during trading on Friday, reaching $49.45. 248,355 shares of the stock were exchanged, compared to its average volume of 1,624,820. The business's 50 day moving average price is $52.23 and its two-hundred day moving average price is $51.77. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.06 and a quick ratio of 1.34. The company has a market capitalization of $9.29 billion, a price-to-earnings ratio of 34.77, a P/E/G ratio of 1.06 and a beta of 1.31. Birkenstock Holding PLC has a 1 year low of $40.56 and a 1 year high of $64.78.

Birkenstock (NYSE:BIRK - Get Free Report) last posted its earnings results on Thursday, May 15th. The company reported $0.58 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.01. The company had revenue of $623.54 million for the quarter, compared to the consensus estimate of $567.84 million. Birkenstock had a return on equity of 10.22% and a net margin of 12.86%. Birkenstock's quarterly revenue was up 19.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.38 earnings per share. As a group, equities research analysts anticipate that Birkenstock Holding PLC will post 1.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on BIRK. William Blair reiterated an "outperform" rating on shares of Birkenstock in a research note on Tuesday, June 3rd. Robert W. Baird lifted their price target on Birkenstock from $65.00 to $70.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. UBS Group lifted their price target on Birkenstock from $72.00 to $76.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Piper Sandler decreased their price target on Birkenstock from $70.00 to $60.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. Finally, Telsey Advisory Group restated an "outperform" rating and issued a $70.00 price target on shares of Birkenstock in a research note on Thursday, May 15th. Twelve investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Birkenstock currently has an average rating of "Buy" and a consensus price target of $69.27.

Birkenstock Company 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.