Bank of New York Mellon Corp Grows Stake in Birkenstock Holding plc (NYSE:BIRK)

Bank of New York Mellon Corp boosted its position in Birkenstock Holding plc (NYSE:BIRK - Free Report) by 39.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,808 shares of the company's stock after buying an additional 36,987 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.07% of Birkenstock worth $7,355,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of BIRK. Bamco Inc. NY increased its stake in Birkenstock by 2.6% in the 3rd quarter. Bamco Inc. NY now owns 3,102,507 shares of the company's stock worth $152,923,000 after purchasing an additional 78,093 shares during the period. FMR LLC raised its holdings in Birkenstock by 61.4% during the 3rd quarter. FMR LLC now owns 2,128,689 shares of the company's stock valued at $104,923,000 after buying an additional 809,784 shares during the last quarter. Principal Financial Group Inc. boosted its position in Birkenstock by 581.8% during the 4th quarter. Principal Financial Group Inc. now owns 542,798 shares of the company's stock valued at $30,755,000 after buying an additional 463,191 shares during the period. Holocene Advisors LP grew its holdings in Birkenstock by 34.4% in the 3rd quarter. Holocene Advisors LP now owns 501,806 shares of the company's stock worth $24,734,000 after acquiring an additional 128,552 shares during the last quarter. Finally, State Street Corp increased its position in shares of Birkenstock by 49.4% in the third quarter. State Street Corp now owns 402,899 shares of the company's stock valued at $19,859,000 after acquiring an additional 133,212 shares during the period. 19.93% of the stock is currently owned by institutional investors.

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Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. UBS Group raised their target price on Birkenstock from $83.00 to $95.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. Robert W. Baird lifted their price objective on Birkenstock from $65.00 to $72.00 and gave the stock an "outperform" rating in a research report on Thursday, December 19th. Hsbc Global Res upgraded Birkenstock to a "strong-buy" rating in a report on Tuesday, December 3rd. BMO Capital Markets raised their price target on Birkenstock from $60.00 to $70.00 and gave the stock an "outperform" rating in a research note on Thursday, December 19th. Finally, Telsey Advisory Group reissued an "outperform" rating and set a $70.00 price objective on shares of Birkenstock in a research report on Thursday, February 20th. 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.com, Birkenstock has a consensus rating of "Moderate Buy" and a consensus target price of $68.31.

Birkenstock Stock Up 5.7 %

NYSE BIRK traded up $2.49 during mid-day trading on Wednesday, reaching $46.16. The stock had a trading volume of 1,135,728 shares, compared to its average volume of 1,654,775. The stock has a market cap of $8.67 billion, a PE ratio of 37.21, a price-to-earnings-growth ratio of 1.02 and a beta of 1.90. Birkenstock Holding plc has a 1 year low of $41.00 and a 1 year 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. The company has a fifty day moving average price of $53.77 and a 200 day moving average price of $51.66.

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