Arrowstreet Capital Limited Partnership Purchases 465,364 Shares of Birkenstock Holding plc (NYSE:BIRK)

Arrowstreet Capital Limited Partnership lifted its stake in Birkenstock Holding plc (NYSE:BIRK - Free Report) by 9,658.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 470,182 shares of the company's stock after acquiring an additional 465,364 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.25% of Birkenstock worth $26,641,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. HighTower Advisors LLC grew its stake in Birkenstock by 370.8% in the third quarter. HighTower Advisors LLC now owns 26,165 shares of the company's stock valued at $1,289,000 after purchasing an additional 20,607 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Birkenstock in the third quarter valued at $1,323,000. Renaissance Capital LLC increased its holdings in Birkenstock by 94.0% during the fourth quarter. Renaissance Capital LLC now owns 82,190 shares of the company's stock worth $4,657,000 after buying an additional 39,831 shares during the last quarter. FMR LLC raised its position in Birkenstock by 61.4% during the third quarter. FMR LLC now owns 2,128,689 shares of the company's stock worth $104,923,000 after acquiring an additional 809,784 shares in the last quarter. Finally, Oppenheimer & Co. Inc. acquired a new stake in Birkenstock in the fourth quarter valued at $606,000. Institutional investors own 19.93% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Piper Sandler started coverage on shares of Birkenstock in a research note on Tuesday, December 10th. They set an "overweight" rating and a $65.00 price objective on the stock. BTIG Research boosted their price target on Birkenstock from $60.00 to $70.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. 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. BMO Capital Markets boosted their target price on Birkenstock from $60.00 to $70.00 and gave the stock an "outperform" rating in a report on Thursday, December 19th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Birkenstock from $65.00 to $66.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. Two 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. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $68.31.

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Birkenstock Stock Performance

NYSE:BIRK traded up $0.10 during mid-day trading on Monday, reaching $43.97. 2,870,000 shares of the company's stock were exchanged, compared to its average volume of 1,306,541. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.08 and a current ratio of 2.84. The firm has a market capitalization of $8.26 billion, a PE ratio of 35.46, a price-to-earnings-growth ratio of 1.02 and a beta of 1.71. Birkenstock Holding plc has a one year low of $41.00 and a one year high of $64.78. The business's fifty day simple moving average is $50.33 and its two-hundred day simple moving average is $51.55.

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