Handelsbanken Fonder AB Acquires 8,200 Shares of Birkenstock Holding PLC (NYSE:BIRK)

Handelsbanken Fonder AB increased its position in shares of Birkenstock Holding PLC (NYSE:BIRK - Free Report) by 118.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,100 shares of the company's stock after purchasing an additional 8,200 shares during the period. Handelsbanken Fonder AB's holdings in Birkenstock were worth $692,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BIRK. Norges Bank bought a new stake in Birkenstock in the 4th quarter valued at $131,786,000. Marshall Wace LLP lifted its stake in shares of Birkenstock by 260.5% during the fourth 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 period. AGF Management Ltd. acquired a new stake in shares of Birkenstock during the 4th quarter worth approximately $37,153,000. AXA S.A. bought a new stake in shares of Birkenstock during the 4th quarter valued at $29,050,000. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Birkenstock by 9,658.9% during the fourth 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 during the last quarter. 19.93% of the stock is owned by institutional investors and hedge funds.

Birkenstock Stock Up 1.6%

BIRK traded up $0.83 during midday trading on Thursday, hitting $52.59. The company had a trading volume of 1,704,048 shares, compared to its average volume of 1,588,208. The company has a market capitalization of $9.88 billion, a price-to-earnings ratio of 37.03, a PEG ratio of 1.09 and a beta of 1.48. The stock's 50 day moving average price is $52.40 and its 200 day moving average price is $52.76. 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 Holding PLC has a 52 week low of $40.56 and a 52 week high of $64.78.

Birkenstock (NYSE:BIRK - Get Free Report) last posted its quarterly earnings results on Thursday, May 15th. The company reported $0.58 earnings per share 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 the consensus estimate of $567.84 million. During the same period in the prior year, the business earned $0.38 EPS. The firm's revenue for the quarter was up 19.3% on a year-over-year basis. On average, research analysts anticipate that Birkenstock Holding PLC will post 1.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on BIRK shares. Stifel Nicolaus raised their price target on Birkenstock from $62.00 to $70.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. William Blair restated an "outperform" rating on shares of Birkenstock in a research note on Tuesday, June 3rd. UBS Group lifted 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. Robert W. Baird raised their target price on shares of Birkenstock from $65.00 to $70.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Finally, Telsey Advisory Group reaffirmed an "outperform" rating and issued a $70.00 price objective on shares of Birkenstock in a report on Thursday, May 15th. One equities research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Birkenstock presently has an average rating of "Buy" and a consensus target price of $68.07.

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.