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

Principal Financial Group Inc. boosted its stake in shares of Birkenstock Holding PLC (NYSE:BIRK - Free Report) by 37.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 746,716 shares of the company's stock after purchasing an additional 203,918 shares during the quarter. Principal Financial Group Inc. owned 0.40% of Birkenstock worth $34,237,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Legal & General Group Plc increased its stake in Birkenstock by 12.3% during the 4th quarter. Legal & General Group Plc now owns 3,158 shares of the company's stock worth $179,000 after purchasing an additional 347 shares in the last quarter. Malaga Cove Capital LLC increased its position in shares of Birkenstock by 3.5% in the fourth quarter. Malaga Cove Capital LLC now owns 12,108 shares of the company's stock worth $686,000 after purchasing an additional 407 shares during the period. Signaturefd LLC grew its position in Birkenstock by 642.6% in the fourth 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 acquired a new position in shares of Birkenstock in the fourth quarter worth approximately $34,000. Finally, Quarry LP raised its holdings 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 purchasing an additional 599 shares during the last quarter. 19.93% of the stock is currently owned by institutional investors and hedge funds.

Birkenstock Stock Down 1.1%

Shares of BIRK stock traded down $0.51 on Thursday, reaching $47.97. 587,592 shares of the stock were exchanged, compared to its average volume of 1,596,597. The company has a current ratio of 3.06, a quick ratio of 1.34 and a debt-to-equity ratio of 0.47. The business's 50 day moving average price is $52.70 and its 200 day moving average price is $52.26. The company has a market capitalization of $9.01 billion, a price-to-earnings ratio of 33.77, a PEG ratio of 1.08 and a beta of 1.31. Birkenstock Holding PLC has a twelve month low of $40.56 and a twelve month high of $64.78.

Birkenstock (NYSE:BIRK - Get Free Report) last issued its earnings results 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 net margin of 12.86% and a return on equity of 10.22%. The firm had revenue of $623.54 million during the quarter, compared to the consensus estimate of $567.84 million. During the same quarter in the previous year, the firm posted $0.38 earnings per share. The company's revenue was up 19.3% compared to the same quarter last year. As a group, sell-side analysts expect that Birkenstock Holding PLC will post 1.77 earnings per share for the current fiscal year.

Analyst Ratings Changes

BIRK has been the subject of a number of recent analyst reports. Piper Sandler reduced their price objective on Birkenstock from $70.00 to $60.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. BMO Capital Markets increased their price objective on Birkenstock from $70.00 to $75.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Evercore ISI raised their price target on Birkenstock from $65.00 to $70.00 and gave the stock an "outperform" rating in a research report on Monday, May 19th. William Blair reiterated an "outperform" rating on shares of Birkenstock in a research note on Tuesday, June 3rd. Finally, UBS Group lifted their price objective on Birkenstock from $72.00 to $76.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Twelve investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average target price 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.