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

Principal Financial Group Inc. lifted its position in Birkenstock Holding PLC (NYSE:BIRK - Free Report) by 37.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 746,716 shares of the company's stock after acquiring an additional 203,918 shares during the period. Principal Financial Group Inc. owned 0.40% of Birkenstock worth $34,237,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new stake in Birkenstock in the fourth quarter worth $131,786,000. Marshall Wace LLP lifted its position in Birkenstock by 260.5% in the 4th quarter. Marshall Wace LLP now owns 1,100,692 shares of the company's stock valued at $62,365,000 after acquiring an additional 795,382 shares in the last quarter. AGF Management Ltd. purchased a new position in shares of Birkenstock in the fourth quarter worth $37,153,000. AXA S.A. bought a new position in shares of Birkenstock during the fourth quarter valued at $29,050,000. Finally, Arrowstreet Capital Limited Partnership boosted its position 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 valued at $26,641,000 after buying an additional 465,364 shares during the last quarter. Hedge funds and other institutional investors own 19.93% of the company's stock.

Wall Street Analyst Weigh In

BIRK has been the subject of a number of recent analyst reports. Stifel Nicolaus boosted their target price on Birkenstock from $62.00 to $70.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Piper Sandler lowered their price target on Birkenstock from $70.00 to $60.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. BTIG Research lifted their price objective on Birkenstock from $70.00 to $72.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Robert W. Baird increased their target price on Birkenstock from $65.00 to $70.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Finally, Evercore ISI boosted their price target on Birkenstock from $65.00 to $70.00 and gave the company an "outperform" rating in a research note on Monday, May 19th. Twelve analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Birkenstock presently has a consensus rating of "Buy" and an average price target of $69.27.

Birkenstock Price Performance

Shares of BIRK stock traded up $0.09 on Wednesday, hitting $48.43. 1,475,556 shares of the stock traded hands, compared to its average volume of 1,600,442. Birkenstock Holding PLC has a 52 week low of $40.56 and a 52 week 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. The firm has a market cap of $9.10 billion, a price-to-earnings ratio of 30.59, a PEG ratio of 1.08 and a beta of 1.31. The firm has a 50 day simple moving average of $52.76 and a two-hundred day simple moving average of $52.28.

Birkenstock (NYSE:BIRK - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The company reported $0.58 earnings per share for the quarter, topping analysts' consensus estimates of $0.57 by $0.01. The firm had revenue of $623.54 million during the quarter, compared to analyst estimates of $567.84 million. Birkenstock had a return on equity of 10.22% and a net margin of 12.86%. The business's quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.38 earnings per share. As a group, equities research analysts predict that Birkenstock Holding PLC will post 1.77 earnings per share for the current fiscal 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.