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

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

A number of other hedge funds also recently bought and sold shares of BIRK. R Squared Ltd purchased a new stake in Birkenstock during the fourth quarter valued at about $143,000. Renaissance Capital LLC lifted its stake in Birkenstock by 94.0% during the fourth quarter. Renaissance Capital LLC now owns 82,190 shares of the company's stock valued at $4,657,000 after buying an additional 39,831 shares in the last quarter. True Vision MN LLC purchased a new stake in Birkenstock during the fourth quarter valued at about $502,000. Vontobel Holding Ltd. purchased a new stake in Birkenstock during the fourth quarter valued at about $461,000. Finally, Kessler Investment Group LLC purchased a new stake in Birkenstock during the fourth quarter valued at about $6,737,000. 19.93% of the stock is owned by hedge funds and other institutional investors.

Birkenstock Stock Down 3.2%

NYSE:BIRK traded down $1.78 during mid-day trading on Friday, reaching $53.27. The stock had a trading volume of 2,801,856 shares, compared to its average volume of 1,506,439. The business's 50 day moving average is $49.40 and its 200 day moving average is $51.95. Birkenstock Holding plc has a fifty-two week low of $40.56 and a fifty-two week high of $64.78. The stock has a market cap of $10.01 billion, a P/E ratio of 42.96, a PEG ratio of 1.02 and a beta of 1.56. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.84 and a quick ratio of 1.08.

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, topping analysts' consensus estimates of $0.57 by $0.01. Birkenstock had a return on equity of 9.52% and a net margin of 11.73%. The firm had revenue of $623.54 million for the quarter, compared to the consensus estimate of $567.84 million. During the same quarter in the prior year, the company posted $0.38 earnings per share. The firm's revenue was up 19.3% on a year-over-year basis. As a group, sell-side analysts predict that Birkenstock Holding plc will post 1.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on BIRK. Robert W. Baird increased their price target on shares of Birkenstock from $65.00 to $70.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Evercore ISI increased their price target on shares of Birkenstock from $65.00 to $70.00 and gave the stock an "outperform" rating in a research report on Monday. Piper Sandler reduced their price target on shares of Birkenstock from $70.00 to $60.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. BMO Capital Markets increased their price target on shares of Birkenstock from $70.00 to $75.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Finally, UBS Group increased their price target on shares of Birkenstock from $72.00 to $76.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $67.19.

Birkenstock Profile

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.