Voya Investment Management LLC Grows Stake in Birkenstock Holding plc (NYSE:BIRK)

Voya Investment Management LLC increased its position in shares of Birkenstock Holding plc (NYSE:BIRK - Free Report) by 4,844.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 252,589 shares of the company's stock after buying an additional 247,480 shares during the period. Voya Investment Management LLC owned 0.13% of Birkenstock worth $14,312,000 as of its most recent filing with the SEC.

Other institutional investors have also recently modified their holdings of the company. Signaturefd LLC grew its stake in Birkenstock by 642.6% during the 4th quarter. Signaturefd LLC now owns 505 shares of the company's stock worth $29,000 after purchasing an additional 437 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new position in shares of Birkenstock during the fourth quarter worth approximately $34,000. NewEdge Advisors LLC purchased a new stake in Birkenstock during the 4th quarter valued at approximately $45,000. Headlands Technologies LLC acquired a new stake in Birkenstock in the fourth quarter valued at $76,000. Finally, JPMorgan Chase & Co. lifted its position in shares of Birkenstock by 112.0% in 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. 19.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BIRK has been the subject of a number of research analyst reports. Stifel Nicolaus dropped their price objective on Birkenstock from $70.00 to $62.00 and set a "buy" rating for the company in a report on Thursday, April 10th. Piper Sandler dropped their target price on shares of Birkenstock from $70.00 to $60.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. Finally, Telsey Advisory Group restated an "outperform" rating and issued a $70.00 price target on shares of Birkenstock in a research note on Thursday, February 20th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $67.50.

Birkenstock Stock Performance

NYSE:BIRK traded up $0.54 on Wednesday, reaching $51.47. 1,802,241 shares of the company's stock were exchanged, compared to its average volume of 1,389,535. The firm has a market cap of $9.67 billion, a price-to-earnings ratio of 41.51, a P/E/G ratio of 1.02 and a beta of 1.71. The stock has a fifty day simple moving average of $47.05 and a 200-day simple moving average of $51.39. Birkenstock Holding plc has a 52 week low of $40.56 and a 52 week high of $64.78. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.84 and a quick ratio of 1.08.

Birkenstock (NYSE:BIRK - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.03. The company had revenue of $385.88 million for the quarter, compared to analysts' expectations of $355.80 million. Birkenstock had a net margin of 11.73% and a return on equity of 9.52%. As a group, sell-side analysts predict that Birkenstock Holding plc will post 1.77 earnings per share 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.