Vontobel Holding Ltd. Buys 216,374 Shares of Birkenstock Holding PLC (NYSE:BIRK)

Vontobel Holding Ltd. raised its holdings in Birkenstock Holding PLC (NYSE:BIRK - Free Report) by 2,662.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 224,502 shares of the company's stock after buying an additional 216,374 shares during the quarter. Vontobel Holding Ltd. owned 0.12% of Birkenstock worth $10,293,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

BIRK has been the subject of several recent research reports. UBS Group upped their price target on Birkenstock from $72.00 to $76.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Bank of America upped their price objective on Birkenstock from $70.00 to $73.00 and gave the company a "buy" rating in a research note on Friday, May 16th. BTIG Research upped their price objective on Birkenstock from $70.00 to $72.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Stifel Nicolaus upped their price objective on Birkenstock from $62.00 to $70.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Finally, Telsey Advisory Group restated an "outperform" rating and issued a $70.00 price objective on shares of Birkenstock in a research note on Thursday, May 15th. Twelve equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Birkenstock currently has a consensus rating of "Buy" and a consensus price target of $69.27.

Birkenstock Price Performance

Shares of Birkenstock stock traded up $0.29 on Friday, reaching $49.34. The stock had a trading volume of 725,132 shares, compared to its average volume of 1,586,577. Birkenstock Holding PLC has a 1 year low of $40.56 and a 1 year high of $64.78. The company has a market cap of $9.27 billion, a P/E ratio of 30.90, a price-to-earnings-growth ratio of 1.07 and a beta of 1.31. The company has a current ratio of 3.06, a quick ratio of 1.34 and a debt-to-equity ratio of 0.47. The business's 50 day moving average is $52.86 and its two-hundred day moving average is $52.43.

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