Fortress Investment Group LLC Purchases New Position in Birkenstock Holding plc (NYSE:BIRK)

Fortress Investment Group LLC acquired a new position in shares of Birkenstock Holding plc (NYSE:BIRK - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 15,000 shares of the company's stock, valued at approximately $850,000. Birkenstock comprises 0.1% of Fortress Investment Group LLC's portfolio, making the stock its 15th largest holding.

A number of other institutional investors also recently made changes to their positions in the company. Signaturefd LLC boosted its holdings in Birkenstock by 642.6% in the 4th quarter. Signaturefd LLC now owns 505 shares of the company's stock valued at $29,000 after purchasing an additional 437 shares during the period. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Birkenstock in the fourth quarter valued at approximately $34,000. NewEdge Advisors LLC acquired a new stake in Birkenstock during the fourth quarter worth approximately $45,000. Quarry LP increased 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 acquiring an additional 599 shares during the period. Finally, Headlands Technologies LLC acquired a new position in Birkenstock in the 4th quarter valued at $76,000. Institutional investors own 19.93% of the company's stock.

Birkenstock Trading Up 0.3 %

NYSE BIRK opened at $52.64 on Friday. Birkenstock Holding plc has a 12 month low of $40.56 and a 12 month high of $64.78. The company has a current ratio of 2.84, a quick ratio of 1.08 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $9.89 billion, a PE ratio of 42.45, a price-to-earnings-growth ratio of 1.02 and a beta of 1.56. The business's 50-day moving average price is $47.37 and its two-hundred day moving average price is $51.43.

Birkenstock (NYSE:BIRK - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.03. Birkenstock had a net margin of 11.73% and a return on equity of 9.52%. The firm had revenue of $385.88 million during the quarter, compared to analyst estimates of $355.80 million. On average, analysts expect that Birkenstock Holding plc will post 1.77 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BIRK. Piper Sandler reduced their price target 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. UBS Group raised their target price on Birkenstock from $68.00 to $72.00 and gave the company a "buy" rating in a report on Monday, May 5th. Telsey Advisory Group reissued an "outperform" rating and set a $70.00 price target on shares of Birkenstock in a report on Friday. Finally, Stifel Nicolaus decreased their target price on Birkenstock from $70.00 to $62.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. Two investment 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 company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $66.06.

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.

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