AGF Management Ltd. Buys Shares of 655,727 Birkenstock Holding plc (NYSE:BIRK)

AGF Management Ltd. acquired a new position in shares of Birkenstock Holding plc (NYSE:BIRK - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 655,727 shares of the company's stock, valued at approximately $37,153,000. AGF Management Ltd. owned 0.35% of Birkenstock as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of BIRK. Quarry LP bought a new stake in shares of Birkenstock during the 3rd quarter worth $25,000. MetLife Investment Management LLC lifted its position in Birkenstock by 52.2% in the 3rd quarter. MetLife Investment Management LLC now owns 688 shares of the company's stock worth $34,000 after buying an additional 236 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Birkenstock in the 4th quarter worth approximately $34,000. Amalgamated Bank boosted its stake in shares of Birkenstock by 51.8% during the third quarter. Amalgamated Bank now owns 2,071 shares of the company's stock valued at $102,000 after purchasing an additional 707 shares during the period. Finally, R Squared Ltd purchased a new stake in shares of Birkenstock during the fourth quarter valued at approximately $143,000. Institutional investors and hedge funds own 19.93% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on BIRK. Robert W. Baird raised their price objective on Birkenstock from $65.00 to $72.00 and gave the company an "outperform" rating in a research report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft lifted their price objective on Birkenstock from $65.00 to $66.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Telsey Advisory Group reissued an "outperform" rating and issued a $70.00 target price on shares of Birkenstock in a research report on Thursday, February 20th. Hsbc Global Res raised Birkenstock to a "strong-buy" rating in a research report on Tuesday, December 3rd. Finally, BMO Capital Markets boosted their price target on Birkenstock from $60.00 to $70.00 and gave the stock an "outperform" rating in a report on Thursday, December 19th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $68.31.

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Birkenstock Stock Performance

Shares of BIRK stock opened at $44.94 on Wednesday. The company has a quick ratio of 1.08, a current ratio of 2.84 and a debt-to-equity ratio of 0.48. The business has a 50 day moving average of $55.03 and a two-hundred day moving average of $52.11. The company has a market cap of $8.44 billion, a P/E ratio of 36.24, a PEG ratio of 1.02 and a beta of 1.90. Birkenstock Holding plc has a 52 week low of $41.00 and a 52 week high of $64.78.

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

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.

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