Shikiar Asset Management Inc. Acquires Shares of 19,250 Birkenstock Holding PLC (NYSE:BIRK)

Shikiar Asset Management Inc. acquired a new position in 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 acquired 19,250 shares of the company's stock, valued at approximately $883,000.

Several other large investors also recently modified their holdings of the stock. Vontobel Holding Ltd. bought a new position in shares of Birkenstock during the 4th quarter worth $461,000. Principal Financial Group Inc. boosted its position in Birkenstock by 581.8% during the fourth quarter. Principal Financial Group Inc. now owns 542,798 shares of the company's stock worth $30,755,000 after purchasing an additional 463,191 shares during the period. Venturi Wealth Management LLC boosted its position in Birkenstock by 9.3% during the fourth quarter. Venturi Wealth Management LLC now owns 7,292 shares of the company's stock worth $413,000 after purchasing an additional 622 shares during the period. New York State Common Retirement Fund increased its stake in shares of Birkenstock by 21.7% in the fourth quarter. New York State Common Retirement Fund now owns 22,415 shares of the company's stock worth $1,270,000 after purchasing an additional 4,000 shares in the last quarter. Finally, Handelsbanken Fonder AB bought a new stake in shares of Birkenstock in the fourth quarter valued at approximately $391,000. Hedge funds and other institutional investors own 19.93% of the company's stock.

Birkenstock Price Performance

Shares of Birkenstock stock traded up $0.83 during trading on Thursday, hitting $52.59. 1,704,048 shares of the stock traded hands, compared to its average volume of 1,588,208. The firm's fifty day moving average is $52.40 and its 200-day moving average is $52.76. The stock has a market cap of $9.88 billion, a price-to-earnings ratio of 37.03, a PEG ratio of 1.09 and a beta of 1.48. Birkenstock Holding PLC has a 52 week low of $40.56 and a 52 week high of $64.78. The company has a quick ratio of 1.34, a current ratio of 3.06 and a debt-to-equity ratio of 0.47.

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

Analysts Set New Price Targets

A number of equities research analysts have issued reports on BIRK shares. BMO Capital Markets boosted their target price on shares of Birkenstock from $70.00 to $75.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Bank of America raised their target price on Birkenstock from $70.00 to $73.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. UBS Group increased their price target on shares of Birkenstock from $72.00 to $76.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Telsey Advisory Group restated an "outperform" rating and issued a $70.00 price objective on shares of Birkenstock in a research report on Thursday, May 15th. Finally, BTIG Research upped their target price on shares of Birkenstock from $70.00 to $72.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $68.07.

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.