93,589 Shares in Birkenstock Holding plc (NYSE:BIRK) Purchased by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. bought a new stake in Birkenstock Holding plc (NYSE:BIRK - Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 93,589 shares of the company's stock, valued at approximately $4,291,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. True Vision MN LLC acquired a new position in Birkenstock during the fourth quarter valued at approximately $502,000. Vontobel Holding Ltd. acquired a new position in Birkenstock in the fourth quarter valued at about $461,000. Kessler Investment Group LLC acquired a new stake in shares of Birkenstock in the fourth quarter valued at $6,737,000. Principal Financial Group Inc. raised its position in Birkenstock by 581.8% in the 4th 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 last quarter. Finally, Venturi Wealth Management LLC raised its holdings in Birkenstock by 9.3% during the 4th 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 last quarter. 19.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BIRK. BTIG Research raised their target price on Birkenstock from $70.00 to $72.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Stifel Nicolaus lifted their price objective on shares of Birkenstock from $62.00 to $70.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Bank of America upped their target price on shares of Birkenstock from $70.00 to $73.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Telsey Advisory Group reiterated an "outperform" rating and issued a $70.00 target price on shares of Birkenstock in a report on Thursday, May 15th. Finally, UBS Group boosted their price target on shares of Birkenstock from $72.00 to $76.00 and gave the company a "buy" rating in a report on Friday, May 16th. One equities research analyst has rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $68.07.

Birkenstock Stock Down 3.8%

Shares of BIRK stock traded down $2.02 on Friday, hitting $51.51. 1,969,736 shares of the stock were exchanged, compared to its average volume of 1,582,711. The company has a current ratio of 2.84, a quick ratio of 1.08 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $9.68 billion, a P/E ratio of 41.54, a price-to-earnings-growth ratio of 1.02 and a beta of 1.48. Birkenstock Holding plc has a fifty-two week low of $40.56 and a fifty-two week high of $64.78. The business has a 50-day moving average of $52.01 and a 200 day moving average of $52.75.

Birkenstock (NYSE:BIRK - Get Free Report) last released 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. The firm had revenue of $623.54 million during the quarter, compared to the consensus estimate of $567.84 million. Birkenstock had a return on equity of 9.52% and a net margin of 11.73%. The business's revenue was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.38 EPS. Equities 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.