Northern Trust Corp Raises Position in Birkenstock Holding plc (NYSE:BIRK)

Northern Trust Corp raised its stake in Birkenstock Holding plc (NYSE:BIRK - Free Report) by 11.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 75,027 shares of the company's stock after purchasing an additional 7,498 shares during the period. Northern Trust Corp's holdings in Birkenstock were worth $4,251,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of BIRK. Signaturefd LLC increased its holdings in shares of Birkenstock by 642.6% in the 4th quarter. Signaturefd LLC now owns 505 shares of the company's stock valued at $29,000 after acquiring an additional 437 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Birkenstock in the 4th quarter valued at about $34,000. NewEdge Advisors LLC purchased a new position in Birkenstock during the 4th quarter worth approximately $45,000. Quarry LP grew its stake in Birkenstock by 120.3% during the 4th quarter. Quarry LP now owns 1,097 shares of the company's stock worth $62,000 after buying an additional 599 shares during the last quarter. Finally, Headlands Technologies LLC purchased a new position in Birkenstock during the 4th quarter worth approximately $76,000. Institutional investors and hedge funds own 19.93% of the company's stock.

Birkenstock Stock Up 1.5%

Shares of NYSE BIRK traded up $0.79 on Tuesday, hitting $54.01. The company had a trading volume of 1,895,928 shares, compared to its average volume of 1,511,066. Birkenstock Holding plc has a 12-month low of $40.56 and a 12-month high of $64.78. The business has a 50 day moving average of $49.72 and a two-hundred day moving average of $52.09. 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 $10.14 billion, a P/E ratio of 43.56, a PEG ratio of 1.02 and a beta of 1.56.

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

Analyst Ratings Changes

A number of research firms recently issued reports on BIRK. Piper Sandler dropped their price target on Birkenstock from $70.00 to $60.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. Evercore ISI raised their price target on Birkenstock from $65.00 to $70.00 and gave the stock an "outperform" rating in a research note on Monday, May 19th. Robert W. Baird raised their price target on Birkenstock from $65.00 to $70.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Bank of America lifted their target price on Birkenstock from $70.00 to $73.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Finally, BTIG Research lifted their target price on Birkenstock from $70.00 to $72.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Birkenstock currently has a consensus rating of "Moderate Buy" and a consensus price target of $67.19.

Birkenstock Company 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.