Federated Hermes Inc. raised its holdings in shares of Birkenstock Holding PLC (NYSE:BIRK - Free Report) by 3.7% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 952,168 shares of the company's stock after acquiring an additional 33,613 shares during the quarter. Federated Hermes Inc. owned approximately 0.51% of Birkenstock worth $43,657,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also made changes to their positions in BIRK. Marshall Wace LLP raised its stake in Birkenstock by 260.5% during the 4th quarter. Marshall Wace LLP now owns 1,100,692 shares of the company's stock valued at $62,365,000 after acquiring an additional 795,382 shares during the last quarter. LBP AM SA purchased a new stake in Birkenstock during the 1st quarter valued at approximately $23,658,000. AXA S.A. purchased a new stake in Birkenstock during the 4th quarter valued at approximately $29,050,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Birkenstock by 9,658.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 470,182 shares of the company's stock worth $26,641,000 after buying an additional 465,364 shares in the last quarter. Finally, ThornTree Capital Partners LP purchased a new position in shares of Birkenstock during the 4th quarter worth approximately $19,506,000. 19.93% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages have recently issued reports on BIRK. Bank of America increased 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 target price on Birkenstock from $72.00 to $76.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. BTIG Research increased 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. Piper Sandler cut their target price on Birkenstock from $70.00 to $60.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. Finally, Robert W. Baird upped their price target on Birkenstock from $65.00 to $70.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Thirteen analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $68.50.
Get Our Latest Analysis on BIRK
Birkenstock Trading Down 1.9%
Shares of BIRK traded down $0.96 during trading hours on Friday, hitting $49.13. The stock had a trading volume of 2,488,282 shares, compared to its average volume of 1,990,358. The company's fifty day simple moving average is $51.31 and its 200 day simple moving average is $51.30. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.34 and a current ratio of 3.06. Birkenstock Holding PLC has a 12-month low of $40.56 and a 12-month high of $64.78. The firm has a market cap of $9.23 billion, a P/E ratio of 34.60, a P/E/G ratio of 1.09 and a beta of 1.31.
Birkenstock (NYSE:BIRK - Get Free Report) last announced its 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 return on equity of 10.22% and a net margin of 12.86%. The business had revenue of $623.54 million for the quarter, compared to analyst estimates of $567.84 million. During the same period in the previous year, the company earned $0.38 earnings per share. The company's revenue for the quarter was up 19.3% compared to the same quarter last year. Equities research analysts forecast that Birkenstock Holding PLC will post 1.77 EPS for the current fiscal year.
About Birkenstock
(
Free Report)
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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