Federated Hermes Inc. Purchases Shares of 557,200 Birkenstock Holding plc (NYSE:BIRK)

Federated Hermes Inc. purchased a new position in shares of Birkenstock Holding plc (NYSE:BIRK - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 557,200 shares of the company's stock, valued at approximately $27,152,000. Federated Hermes Inc. owned 0.30% of Birkenstock at the end of the most recent reporting period.

Separately, Venturi Wealth Management LLC purchased a new stake in Birkenstock during the 4th quarter worth approximately $83,000. Hedge funds and other institutional investors own 19.93% of the company's stock.

Birkenstock Stock Performance

Shares of BIRK traded up $0.65 during mid-day trading on Friday, reaching $42.67. 852,743 shares of the company's stock were exchanged, compared to its average volume of 621,806. The stock's fifty day simple moving average is $46.96. Birkenstock Holding plc has a 52-week low of $35.83 and a 52-week high of $55.00. The company has a current ratio of 2.85, a quick ratio of 1.28 and a debt-to-equity ratio of 0.80.

Birkenstock (NYSE:BIRK - Get Free Report) last issued its quarterly earnings results on Thursday, February 29th. The company reported $0.09 earnings per share for the quarter, missing analysts' consensus estimates of $0.10 by ($0.01). The company had revenue of $303.00 million for the quarter, compared to analysts' expectations of $289.09 million. The firm's revenue was up 21.9% on a year-over-year basis. As a group, equities analysts predict that Birkenstock Holding plc will post 1.28 EPS for the current year.

Analysts Set New Price Targets

Several research firms have commented on BIRK. UBS Group boosted their price target on shares of Birkenstock from $51.00 to $52.00 and gave the stock a "neutral" rating in a research note on Monday, March 4th. Piper Sandler upped their price target on Birkenstock from $56.50 to $61.00 and gave the stock an "overweight" rating in a report on Friday, March 1st. Telsey Advisory Group cut Birkenstock from an "outperform" rating to a "market perform" rating and set a $56.00 price objective for the company. in a research note on Thursday, February 29th. Robert W. Baird upped their target price on shares of Birkenstock from $54.00 to $58.00 and gave the stock an "outperform" rating in a research note on Friday, March 1st. Finally, BMO Capital Markets raised their target price on shares of Birkenstock from $50.00 to $54.00 and gave the company an "outperform" rating in a report on Friday, March 1st. Eight investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $49.15.

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.