Birkenstock Holding plc (NYSE:BIRK) Stock Position Lifted by Renaissance Capital LLC

Renaissance Capital LLC lifted its stake in shares of Birkenstock Holding plc (NYSE:BIRK - Free Report) by 94.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 82,190 shares of the company's stock after purchasing an additional 39,831 shares during the quarter. Birkenstock comprises 3.1% of Renaissance Capital LLC's portfolio, making the stock its 16th largest position. Renaissance Capital LLC's holdings in Birkenstock were worth $4,657,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in BIRK. Quarry LP acquired a new stake in shares of Birkenstock in the third quarter valued at approximately $25,000. MetLife Investment Management LLC increased its position in Birkenstock by 52.2% in the 3rd quarter. MetLife Investment Management LLC now owns 688 shares of the company's stock valued at $34,000 after acquiring an additional 236 shares during the period. GAMMA Investing LLC raised its stake in Birkenstock by 33.7% during the 3rd quarter. GAMMA Investing LLC now owns 893 shares of the company's stock valued at $44,000 after acquiring an additional 225 shares in the last quarter. Amalgamated Bank boosted its position in Birkenstock by 51.8% during the 3rd quarter. Amalgamated Bank now owns 2,071 shares of the company's stock worth $102,000 after acquiring an additional 707 shares during the period. Finally, R Squared Ltd bought a new position in shares of Birkenstock in the fourth quarter worth $143,000. Institutional investors own 19.93% of the company's stock.

Birkenstock Trading Down 2.2 %

Shares of NYSE BIRK traded down $1.24 during mid-day trading on Friday, hitting $55.63. 1,130,621 shares of the company traded hands, compared to its average volume of 1,399,873. The company has a quick ratio of 1.20, a current ratio of 2.60 and a debt-to-equity ratio of 0.50. Birkenstock Holding plc has a 1 year low of $41.00 and a 1 year high of $64.78. The stock has a market capitalization of $10.45 billion, a price-to-earnings ratio of 51.51, a PEG ratio of 1.18 and a beta of 1.61. The business has a 50 day moving average of $57.19 and a two-hundred day moving average of $53.37.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on BIRK. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Birkenstock from $65.00 to $66.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. UBS Group boosted their price target on shares of Birkenstock from $83.00 to $95.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. Telsey Advisory Group reiterated an "outperform" rating and issued a $70.00 price objective on shares of Birkenstock in a report on Wednesday, January 22nd. Hsbc Global Res raised Birkenstock to a "strong-buy" rating in a report on Tuesday, December 3rd. Finally, Robert W. Baird upped their target price on Birkenstock from $65.00 to $72.00 and gave the stock an "outperform" rating in a research report on Thursday, December 19th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $68.31.

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.