Man Group plc Lowers Stock Position in Birkenstock Holding plc (NYSE:BIRK)

Man Group plc cut its position in shares of Birkenstock Holding plc (NYSE:BIRK - Free Report) by 17.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 131,802 shares of the company's stock after selling 28,017 shares during the quarter. Man Group plc owned about 0.07% of Birkenstock worth $7,468,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Signaturefd LLC increased its position in shares of Birkenstock by 642.6% during the fourth quarter. Signaturefd LLC now owns 505 shares of the company's stock worth $29,000 after buying an additional 437 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Birkenstock during the fourth quarter worth $34,000. NewEdge Advisors LLC acquired a new stake in shares of Birkenstock during the fourth quarter worth $45,000. Quarry LP increased its position in shares of Birkenstock by 120.3% during the fourth quarter. Quarry LP now owns 1,097 shares of the company's stock worth $62,000 after buying an additional 599 shares during the period. Finally, Headlands Technologies LLC bought a new position in Birkenstock during the fourth quarter worth $76,000. 19.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. Evercore ISI increased 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 Monday. Robert W. Baird increased 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. Piper Sandler cut their target price on shares of Birkenstock from $70.00 to $60.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. BMO Capital Markets increased their target price on shares of Birkenstock from $70.00 to $75.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Finally, Stifel Nicolaus increased their target price 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. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $67.19.

Birkenstock Stock Performance

Shares of Birkenstock stock remained flat at $55.01 during trading hours on Thursday. 1,406,903 shares of the company's stock were exchanged, compared to its average volume of 1,496,163. Birkenstock Holding plc has a 12-month low of $40.56 and a 12-month high of $64.78. The stock has a market cap of $10.33 billion, a P/E ratio of 44.36, a P/E/G ratio of 1.02 and a beta of 1.56. The business has a 50 day simple moving average of $49.20 and a two-hundred day simple moving average of $51.90. The company has a quick ratio of 1.08, a current ratio of 2.84 and a debt-to-equity ratio of 0.48.

Birkenstock (NYSE:BIRK - Get Free Report) last announced its earnings results on Thursday, May 15th. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.57 by $0.01. The company had revenue of $623.54 million during the quarter, compared to the consensus estimate of $567.84 million. Birkenstock had a net margin of 11.73% and a return on equity of 9.52%. The firm's revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.38 earnings per share. As a group, research analysts forecast that Birkenstock Holding plc will post 1.77 earnings per share 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.