Marshall Wace LLP Acquires 795,382 Shares of Birkenstock Holding plc (NYSE:BIRK)

Marshall Wace LLP increased its stake in shares of Birkenstock Holding plc (NYSE:BIRK - Free Report) by 260.5% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,100,692 shares of the company's stock after acquiring an additional 795,382 shares during the period. Marshall Wace LLP owned 0.59% of Birkenstock worth $62,365,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BIRK. Legal & General Group Plc lifted its stake in shares of Birkenstock by 12.3% in the fourth quarter. Legal & General Group Plc now owns 3,158 shares of the company's stock valued at $179,000 after buying an additional 347 shares during the period. Signaturefd LLC grew its holdings in shares of Birkenstock by 642.6% during the 4th quarter. Signaturefd LLC now owns 505 shares of the company's stock worth $29,000 after purchasing an additional 437 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in shares of Birkenstock during the fourth quarter valued at approximately $34,000. Venturi Wealth Management LLC lifted its position in Birkenstock by 9.3% in the fourth quarter. Venturi Wealth Management LLC now owns 7,292 shares of the company's stock worth $413,000 after purchasing an additional 622 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in shares of Birkenstock by 112.0% in the 4th quarter. JPMorgan Chase & Co. now owns 1,338 shares of the company's stock valued at $76,000 after buying an additional 707 shares in the last quarter. 19.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on BIRK. Piper Sandler lowered their price objective on Birkenstock from $70.00 to $60.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. Telsey Advisory Group reissued an "outperform" rating and set a $70.00 target price on shares of Birkenstock in a research note on Thursday, February 20th. Finally, Stifel Nicolaus decreased their price target on shares of Birkenstock from $70.00 to $62.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $67.50.

Birkenstock Price Performance

Birkenstock stock traded up $0.89 during midday trading on Wednesday, reaching $49.01. The company's stock had a trading volume of 372,723 shares, compared to its average volume of 1,357,164. The stock has a market cap of $9.21 billion, a PE ratio of 39.52, a price-to-earnings-growth ratio of 1.02 and a beta of 1.71. The company has a current ratio of 2.84, a quick ratio of 1.08 and a debt-to-equity ratio of 0.48. Birkenstock Holding plc has a 52 week low of $40.56 and a 52 week high of $64.78. The business has a 50-day moving average price of $47.50 and a 200-day moving average price of $51.33.

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

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.