Principal Financial Group Inc. Grows Holdings in Birkenstock Holding PLC (NYSE:BIRK)

Principal Financial Group Inc. grew its holdings in shares of Birkenstock Holding PLC (NYSE:BIRK - Free Report) by 37.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 746,716 shares of the company's stock after acquiring an additional 203,918 shares during the period. Principal Financial Group Inc. owned about 0.40% of Birkenstock worth $34,237,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Norges Bank bought a new position in Birkenstock during the fourth quarter worth $131,786,000. AGF Management Ltd. bought a new position in Birkenstock during the fourth quarter worth $37,153,000. Raymond James Financial Inc. bought a new position in Birkenstock during the fourth quarter worth $283,000. Handelsbanken Fonder AB raised its stake in Birkenstock by 118.8% during the first quarter. Handelsbanken Fonder AB now owns 15,100 shares of the company's stock worth $692,000 after buying an additional 8,200 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in Birkenstock by 3,914.1% during the first quarter. GAMMA Investing LLC now owns 30,949 shares of the company's stock worth $1,419,000 after buying an additional 30,178 shares during the last quarter. Institutional investors own 19.93% of the company's stock.

Analysts Set New Price Targets

BIRK has been the subject of a number of analyst reports. Robert W. Baird lifted 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. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $70.00 price target on shares of Birkenstock in a research note on Thursday, May 15th. Bank of America lifted their price target on shares of Birkenstock from $70.00 to $73.00 and gave the company a "buy" rating in a research note on Friday, May 16th. William Blair reaffirmed an "outperform" rating on shares of Birkenstock in a research note on Tuesday, June 3rd. Finally, Evercore ISI lifted their price target on shares of Birkenstock from $65.00 to $70.00 and gave the company an "outperform" rating in a research note on Monday, May 19th. Twelve research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $69.27.

Birkenstock Stock Down 0.5%

Shares of NYSE BIRK traded down $0.26 during mid-day trading on Friday, reaching $47.53. 2,892,985 shares of the company's stock traded hands, compared to its average volume of 1,608,224. The stock has a market cap of $8.93 billion, a P/E ratio of 33.47, a PEG ratio of 1.07 and a beta of 1.31. The business has a 50-day simple moving average of $52.57 and a 200 day simple moving average of $52.09. Birkenstock Holding PLC has a 1-year low of $40.56 and a 1-year high of $64.78. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.06 and a quick ratio of 1.34.

Birkenstock (NYSE:BIRK - Get Free Report) last released its quarterly 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 net margin of 12.86% and a return on equity of 10.22%. The business had revenue of $623.54 million for the quarter, compared to analysts' expectations of $567.84 million. During the same period in the previous year, the company earned $0.38 earnings per share. The firm's revenue for the quarter was up 19.3% compared to the same quarter last year. On average, analysts expect that Birkenstock Holding PLC will post 1.77 EPS for the current fiscal year.

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.