T. Rowe Price Investment Management Inc. Acquires 194,622 Shares of Birkenstock Holding plc (NYSE:BIRK)

T. Rowe Price Investment Management Inc. grew its holdings in Birkenstock Holding plc (NYSE:BIRK - Free Report) by 5.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,124,254 shares of the company's stock after purchasing an additional 194,622 shares during the period. T. Rowe Price Investment Management Inc. owned approximately 2.20% of Birkenstock worth $233,681,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Legal & General Group Plc raised its position 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 purchasing an additional 347 shares during the period. Signaturefd LLC raised its position in shares of Birkenstock by 642.6% in the fourth quarter. Signaturefd LLC now owns 505 shares of the company's stock valued at $29,000 after purchasing an additional 437 shares during the period. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Birkenstock during the fourth quarter valued at approximately $34,000. Venturi Wealth Management LLC grew its stake in Birkenstock by 9.3% during the fourth quarter. Venturi Wealth Management LLC now owns 7,292 shares of the company's stock valued at $413,000 after acquiring an additional 622 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Birkenstock by 112.0% during the fourth quarter. JPMorgan Chase & Co. now owns 1,338 shares of the company's stock valued at $76,000 after acquiring an additional 707 shares in the last quarter. Institutional investors own 19.93% of the company's stock.

Birkenstock Trading Down 0.6 %

Shares of BIRK traded down $0.30 during trading hours on Tuesday, hitting $51.09. The company had a trading volume of 488,377 shares, compared to its average volume of 1,376,796. The firm has a market cap of $9.60 billion, a P/E ratio of 41.11, a P/E/G ratio of 1.02 and a beta of 1.71. The stock's 50 day moving average price is $47.12 and its 200 day moving average price is $51.39. 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 Holding plc has a 52-week low of $40.56 and a 52-week high of $64.78.

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on BIRK. Stifel Nicolaus reduced their price objective 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. Telsey Advisory Group reaffirmed an "outperform" rating and set a $70.00 price objective on shares of Birkenstock in a research note on Thursday, February 20th. Finally, Piper Sandler reduced their price objective on shares of Birkenstock from $70.00 to $60.00 and set an "overweight" rating for the company in a research note on Friday, April 11th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $67.50.

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.