Lbp Am Sa Takes $23.66 Million Position in Birkenstock Holding PLC (NYSE:BIRK)

LBP AM SA acquired a new stake in Birkenstock Holding PLC (NYSE:BIRK - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 515,996 shares of the company's stock, valued at approximately $23,658,000. LBP AM SA owned about 0.27% of Birkenstock at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BIRK. Norges Bank purchased a new stake in Birkenstock in the fourth quarter valued at approximately $131,786,000. Marshall Wace LLP raised 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 worth $62,365,000 after purchasing an additional 795,382 shares during the last quarter. AGF Management Ltd. purchased a new stake in shares of Birkenstock during the fourth quarter worth approximately $37,153,000. AXA S.A. purchased a new stake in shares of Birkenstock during the fourth quarter worth approximately $29,050,000. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of 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 purchasing an additional 465,364 shares during the last quarter. Hedge funds and other institutional investors own 19.93% of the company's stock.

Birkenstock Trading Down 0.5%

Shares of Birkenstock stock traded down $0.26 during trading hours on Friday, reaching $47.53. The stock had a trading volume of 2,892,985 shares, compared to its average volume of 1,610,765. The firm has a 50 day simple moving average of $52.57 and a two-hundred day simple moving average of $52.03. The firm has a market capitalization of $8.93 billion, a price-to-earnings ratio of 33.47, a P/E/G ratio of 1.06 and a beta of 1.31. The company has a current ratio of 3.06, a quick ratio of 1.34 and a debt-to-equity ratio of 0.47. Birkenstock Holding PLC has a 1 year low of $40.56 and a 1 year 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, 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 company had revenue of $623.54 million for the quarter, compared to the consensus estimate of $567.84 million. During the same period last year, the business posted $0.38 EPS. The company's quarterly revenue was up 19.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Birkenstock Holding PLC will post 1.77 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. William Blair reaffirmed an "outperform" rating on shares of Birkenstock in a report on Tuesday, June 3rd. Bank of America upped their target price on Birkenstock from $70.00 to $73.00 and gave the company a "buy" rating in a report on Friday, May 16th. Evercore ISI upped their target price on Birkenstock from $65.00 to $70.00 and gave the company an "outperform" rating in a report on Monday, May 19th. Telsey Advisory Group reissued an "outperform" rating and issued a $70.00 target price on shares of Birkenstock in a report on Thursday, May 15th. Finally, UBS Group upped their target price on Birkenstock from $72.00 to $76.00 and gave the company a "buy" rating in a report on Friday, May 16th. Twelve research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Birkenstock presently has a consensus rating of "Buy" and a consensus price target of $69.27.

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.