Lazard Asset Management LLC Has $1.97 Million Position in Birkenstock Holding plc (NYSE:BIRK)

Lazard Asset Management LLC reduced its position in Birkenstock Holding plc (NYSE:BIRK - Free Report) by 47.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,791 shares of the company's stock after selling 31,897 shares during the period. Lazard Asset Management LLC's holdings in Birkenstock were worth $1,971,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BIRK. R Squared Ltd purchased a new stake in shares of Birkenstock during the fourth quarter worth $143,000. Renaissance Capital LLC lifted its stake in Birkenstock by 94.0% in the fourth quarter. Renaissance Capital LLC now owns 82,190 shares of the company's stock valued at $4,657,000 after acquiring an additional 39,831 shares during the last quarter. True Vision MN LLC acquired a new stake in Birkenstock in the fourth quarter valued at approximately $502,000. Vontobel Holding Ltd. bought a new stake in Birkenstock in the fourth quarter worth approximately $461,000. Finally, Kessler Investment Group LLC acquired a new position in shares of Birkenstock during the 4th quarter worth $6,737,000. 19.93% of the stock is currently owned by hedge funds and other institutional investors.

Birkenstock Trading Down 0.2%

Shares of Birkenstock stock traded down $0.12 during trading on Thursday, reaching $54.89. 694,176 shares of the company were exchanged, compared to its average volume of 1,489,353. The company has a quick ratio of 1.08, a current ratio of 2.84 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $10.31 billion, a price-to-earnings ratio of 44.27, a P/E/G ratio of 1.02 and a beta of 1.56. The business has a 50-day moving average price of $48.99 and a 200-day moving average price of $51.84. Birkenstock Holding plc has a twelve month low of $40.56 and a twelve month high of $64.78.

Birkenstock (NYSE:BIRK - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The company reported $0.58 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.01. Birkenstock had a net margin of 11.73% and a return on equity of 9.52%. The business had revenue of $623.54 million during the quarter, compared to analysts' expectations of $567.84 million. During the same quarter in the prior year, the company earned $0.38 EPS. The firm's quarterly revenue was up 19.3% on a year-over-year basis. Sell-side analysts anticipate that Birkenstock Holding plc will post 1.77 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BIRK. BMO Capital Markets boosted their price target on Birkenstock from $70.00 to $75.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Bank of America raised 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. UBS Group upped their target price on Birkenstock from $72.00 to $76.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. BTIG Research lifted their price target on shares of Birkenstock from $70.00 to $72.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Finally, Robert W. Baird boosted their price objective on Birkenstock from $65.00 to $70.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Birkenstock has an average rating of "Moderate Buy" and a consensus target price of $67.19.

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.