Victory Capital Management Inc. Sells 279,415 Shares of Birkenstock Holding PLC (NYSE:BIRK)

Victory Capital Management Inc. lowered its holdings in Birkenstock Holding PLC (NYSE:BIRK - Free Report) by 73.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 102,900 shares of the company's stock after selling 279,415 shares during the quarter. Victory Capital Management Inc. owned approximately 0.05% of Birkenstock worth $4,718,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of BIRK. Norges Bank purchased a new position in shares of Birkenstock in the 4th quarter worth approximately $131,786,000. Marshall Wace LLP grew its position in shares of Birkenstock by 260.5% in the 4th quarter. Marshall Wace LLP now owns 1,100,692 shares of the company's stock worth $62,365,000 after buying an additional 795,382 shares during the last quarter. LBP AM SA purchased a new position in shares of Birkenstock in the 1st quarter worth approximately $23,658,000. AXA S.A. purchased a new position in shares of Birkenstock in the 4th quarter worth approximately $29,050,000. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Birkenstock by 9,658.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 470,182 shares of the company's stock worth $26,641,000 after buying an additional 465,364 shares during the last quarter. Institutional investors own 19.93% of the company's stock.

Birkenstock Stock Performance

Shares of NYSE BIRK opened at $52.64 on Friday. The company has a current ratio of 3.06, a quick ratio of 1.34 and a debt-to-equity ratio of 0.47. Birkenstock Holding PLC has a 12 month low of $40.56 and a 12 month high of $64.78. The company has a 50 day simple moving average of $51.74 and a two-hundred day simple moving average of $51.47. The stock has a market cap of $9.89 billion, a price-to-earnings ratio of 37.07, a PEG ratio of 1.17 and a beta of 1.31.

Birkenstock (NYSE:BIRK - Get Free Report) last announced its quarterly earnings data on Thursday, May 15th. The company reported $0.58 EPS for the quarter, beating 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 during the quarter, compared to analysts' expectations of $567.84 million. During the same period in the previous year, the business posted $0.38 EPS. The business's quarterly revenue was up 19.3% compared to the same quarter last year. As a group, analysts predict that Birkenstock Holding PLC will post 1.77 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BIRK. UBS Group lifted their price objective on shares of Birkenstock from $72.00 to $76.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Robert W. Baird boosted their target price on shares of Birkenstock from $65.00 to $70.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. William Blair reissued an "outperform" rating on shares of Birkenstock in a research report on Tuesday, June 3rd. Piper Sandler dropped their target price on shares of Birkenstock from $70.00 to $60.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. Finally, The Goldman Sachs Group raised shares of Birkenstock from a "neutral" rating to a "buy" rating and set a $60.00 target price on the stock in a research report on Thursday. Thirteen equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Birkenstock presently has a consensus rating of "Buy" and a consensus price target of $68.50.

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.

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