Birkenstock Holding plc (NYSE:BIRK) Position Cut by Nuveen Asset Management LLC

Nuveen Asset Management LLC lowered its stake in Birkenstock Holding plc (NYSE:BIRK - Free Report) by 0.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,999,117 shares of the company's stock after selling 5,632 shares during the period. Nuveen Asset Management LLC owned about 1.60% of Birkenstock worth $169,930,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the stock. Signaturefd LLC lifted its position in Birkenstock by 642.6% during the 4th quarter. Signaturefd LLC now owns 505 shares of the company's stock worth $29,000 after acquiring an additional 437 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Birkenstock during the 4th quarter worth approximately $34,000. NewEdge Advisors LLC acquired a new stake in Birkenstock during the 4th quarter worth approximately $45,000. Quarry LP lifted its position 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 stake in Birkenstock during the 4th quarter worth approximately $76,000. Institutional investors and hedge funds own 19.93% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Evercore ISI raised their price target on Birkenstock from $65.00 to $70.00 and gave the company an "outperform" rating in a report on Monday. Piper Sandler reduced their price target on Birkenstock from $70.00 to $60.00 and set an "overweight" rating for the company in a report on Friday, April 11th. Bank of America raised their price target on Birkenstock from $70.00 to $73.00 and gave the company a "buy" rating in a report on Friday. Robert W. Baird raised their price target on Birkenstock from $65.00 to $70.00 and gave the company an "outperform" rating in a report on Friday. Finally, BTIG Research raised their price target on Birkenstock from $70.00 to $72.00 and gave the company a "buy" rating in a report on Thursday. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Birkenstock currently has an average rating of "Moderate Buy" and a consensus target price of $67.19.

Birkenstock Trading Down 1.1%

Birkenstock stock traded down $0.62 during midday trading on Monday, reaching $56.07. The stock had a trading volume of 2,919,154 shares, compared to its average volume of 1,484,220. The stock's 50-day simple moving average is $48.32 and its 200 day simple moving average is $51.72. The stock has a market capitalization of $10.53 billion, a PE ratio of 45.22, a price-to-earnings-growth ratio of 1.02 and a beta of 1.56. Birkenstock Holding plc has a twelve month low of $40.56 and a twelve month high of $64.78. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.08 and a current ratio of 2.84.

Birkenstock (NYSE:BIRK - Get Free Report) last released its quarterly earnings results on Thursday, May 15th. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.57 by $0.01. Birkenstock had a return on equity of 9.52% and a net margin of 11.73%. The business had revenue of $623.54 million for the quarter, compared to analysts' expectations 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. Analysts expect that Birkenstock Holding plc will post 1.77 EPS for the current year.

Birkenstock Company 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.