Raymond James Financial Inc. acquired a new stake in shares of Birkenstock Holding plc (NYSE:BIRK - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 4,987 shares of the company's stock, valued at approximately $283,000.
Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in Birkenstock during the fourth quarter worth about $131,786,000. AGF Management Ltd. purchased a new stake in Birkenstock in the fourth quarter valued at $37,153,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Birkenstock by 9,658.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 470,182 shares of the company's stock worth $26,641,000 after purchasing an additional 465,364 shares during the period. Principal Financial Group Inc. increased its position in shares of Birkenstock by 581.8% during the 4th quarter. Principal Financial Group Inc. now owns 542,798 shares of the company's stock worth $30,755,000 after purchasing an additional 463,191 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its position in Birkenstock by 27.2% in the fourth quarter. Alliancebernstein L.P. now owns 1,342,214 shares of the company's stock valued at $76,050,000 after buying an additional 286,618 shares during the last quarter. Institutional investors and hedge funds own 19.93% of the company's stock.
Birkenstock Stock Performance
BIRK traded up $0.34 during trading on Wednesday, hitting $54.42. 3,950,804 shares of the stock were exchanged, compared to its average volume of 1,441,649. The firm has a market capitalization of $10.22 billion, a P/E ratio of 43.89, a PEG ratio of 1.02 and a beta of 1.56. Birkenstock Holding plc has a 1-year low of $40.56 and a 1-year high of $64.78. The stock has a fifty day moving average price of $47.63 and a two-hundred day moving average price of $51.50. The company has a quick ratio of 1.08, a current ratio of 2.84 and a debt-to-equity ratio of 0.48.
Birkenstock (NYSE:BIRK - Get Free Report) last issued its quarterly 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. 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 analysts' expectations of $355.80 million. As a group, sell-side 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 equities analysts recently weighed in on BIRK shares. Telsey Advisory Group reaffirmed an "outperform" rating and set a $70.00 price objective on shares of Birkenstock in a research report on Friday, May 9th. 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 report on Thursday, April 10th. UBS Group upped their price target on Birkenstock from $68.00 to $72.00 and gave the stock a "buy" rating in a report on Monday, May 5th. Finally, Piper Sandler cut their target price on shares of Birkenstock from $70.00 to $60.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $66.06.
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About Birkenstock
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Free Report)
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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