Stifel Financial Corp Invests $1.32 Million in Birkenstock Holding plc (NYSE:BIRK)

Stifel Financial Corp purchased a new position in shares of Birkenstock Holding plc (NYSE:BIRK - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 26,685 shares of the company's stock, valued at approximately $1,315,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Bamco Inc. NY increased its position in shares of Birkenstock by 2.6% during the third quarter. Bamco Inc. NY now owns 3,102,507 shares of the company's stock worth $152,923,000 after acquiring an additional 78,093 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Birkenstock by 30.4% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,000,000 shares of the company's stock worth $163,230,000 after purchasing an additional 700,000 shares during the last quarter. FMR LLC increased its holdings in Birkenstock by 61.4% during the 3rd quarter. FMR LLC now owns 2,128,689 shares of the company's stock worth $104,923,000 after purchasing an additional 809,784 shares during the last quarter. Millennium Management LLC acquired a new position in shares of Birkenstock in the 2nd quarter valued at approximately $61,972,000. Finally, Federated Hermes Inc. boosted its stake in shares of Birkenstock by 42.0% during the 2nd quarter. Federated Hermes Inc. now owns 1,071,235 shares of the company's stock valued at $58,286,000 after buying an additional 316,935 shares during the last quarter. Institutional investors and hedge funds own 19.93% of the company's stock.

Analysts Set New Price Targets

BIRK has been the topic of several recent analyst reports. Hsbc Global Res raised shares of Birkenstock to a "strong-buy" rating in a report on Tuesday, December 3rd. HSBC upgraded shares of Birkenstock from a "hold" rating to a "buy" rating and upped their target price for the company from $58.00 to $60.00 in a research note on Tuesday, December 3rd. BTIG Research lifted their price target on Birkenstock from $60.00 to $70.00 and gave the stock a "buy" rating in a research note on Wednesday. Piper Sandler began coverage on Birkenstock in a report on Tuesday, December 10th. They set an "overweight" rating and a $65.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Birkenstock from $65.00 to $66.00 and gave the company a "buy" rating in a report on Thursday. Two investment 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's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $68.31.

Birkenstock Stock Performance

Birkenstock stock traded up $2.81 during midday trading on Friday, reaching $60.40. 2,428,281 shares of the stock traded hands, compared to its average volume of 1,066,536. The firm has a fifty day moving average price of $50.18 and a two-hundred day moving average price of $53.06. Birkenstock Holding plc has a fifty-two week low of $41.00 and a fifty-two week high of $64.78. The firm has a market cap of $11.34 billion, a price-to-earnings ratio of 99.02, a PEG ratio of 1.19 and a beta of 2.22. The company has a current ratio of 2.91, a quick ratio of 1.49 and a debt-to-equity ratio of 0.55.

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.