Russell Investments Group Ltd. Purchases 55,178 Shares of Birkenstock Holding plc (NYSE:BIRK)

Russell Investments Group Ltd. raised its position in shares of Birkenstock Holding plc (NYSE:BIRK - Free Report) by 162,288.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55,212 shares of the company's stock after purchasing an additional 55,178 shares during the period. Russell Investments Group Ltd.'s holdings in Birkenstock were worth $3,128,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Wells Fargo & Company MN raised its holdings in shares of Birkenstock by 68.2% during the fourth quarter. Wells Fargo & Company MN now owns 2,885 shares of the company's stock valued at $163,000 after buying an additional 1,170 shares during the last quarter. Prudential PLC acquired a new position in Birkenstock during the 4th quarter worth $450,000. ExodusPoint Capital Management LP raised its holdings in Birkenstock by 244.6% during the fourth quarter. ExodusPoint Capital Management LP now owns 56,365 shares of the company's stock worth $3,194,000 after purchasing an additional 40,010 shares in the last quarter. Cinctive Capital Management LP acquired a new stake in Birkenstock in the fourth quarter worth approximately $3,888,000. Finally, Headlands Technologies LLC bought a new position in Birkenstock during the 4th quarter valued at $76,000. Institutional investors own 19.93% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on BIRK shares. Piper Sandler cut their price objective on Birkenstock from $70.00 to $60.00 and set an "overweight" rating for the company in a report on Friday, April 11th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $70.00 price objective on shares of Birkenstock in a research note on Thursday, February 20th. Finally, Stifel Nicolaus reduced their target price on shares of Birkenstock from $70.00 to $62.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Two research 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 has an average rating of "Moderate Buy" and an average price target of $67.50.

Birkenstock Stock Up 3.2 %

NYSE BIRK traded up $1.48 during trading on Tuesday, reaching $48.12. 1,047,714 shares of the company's stock were exchanged, compared to its average volume of 1,360,870. The firm has a market capitalization of $9.04 billion, a PE ratio of 38.81, a P/E/G ratio of 1.02 and a beta of 1.71. Birkenstock Holding plc has a fifty-two week low of $40.56 and a fifty-two week 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 company's fifty day simple moving average is $47.50 and its 200-day simple moving average is $51.33.

Birkenstock (NYSE:BIRK - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.19 EPS for the quarter, beating 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 for the quarter, compared to the consensus estimate of $355.80 million. 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.