Geode Capital Management LLC Raises Stake in Birkenstock Holding plc (NYSE:BIRK)

Geode Capital Management LLC boosted its stake in shares of Birkenstock Holding plc (NYSE:BIRK - Free Report) by 50.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 188,714 shares of the company's stock after buying an additional 63,289 shares during the quarter. Geode Capital Management LLC owned approximately 0.10% of Birkenstock worth $9,302,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in BIRK. Quarry LP bought a new position in Birkenstock during the third quarter worth $25,000. MetLife Investment Management LLC raised its position in shares of 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 acquiring an additional 236 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Birkenstock by 33.7% in the 3rd quarter. GAMMA Investing LLC now owns 893 shares of the company's stock valued at $44,000 after purchasing an additional 225 shares during the period. Amalgamated Bank boosted its position in shares of Birkenstock by 51.8% during the 3rd quarter. Amalgamated Bank now owns 2,071 shares of the company's stock valued at $102,000 after purchasing an additional 707 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new stake in Birkenstock during the second quarter worth approximately $136,000. Institutional investors own 19.93% of the company's stock.

Analysts Set New Price Targets

BIRK has been the topic of several recent analyst reports. BTIG Research boosted their price target on Birkenstock from $60.00 to $70.00 and gave the company a "buy" rating in a research note on Wednesday, December 18th. Telsey Advisory Group reissued an "outperform" rating and set a $70.00 target price on shares of Birkenstock in a research note on Thursday, December 19th. BMO Capital Markets lifted their price target on shares of Birkenstock from $60.00 to $70.00 and gave the company an "outperform" rating in a research note on Thursday, December 19th. Piper Sandler started coverage on shares of Birkenstock in a research report on Tuesday, December 10th. They set an "overweight" rating and a $65.00 price objective on the stock. Finally, Robert W. Baird boosted their target price on Birkenstock from $65.00 to $72.00 and gave the company an "outperform" rating in a research report on Thursday, December 19th. Two equities research 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. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $68.31.

Birkenstock Stock Up 1.1 %

Shares of BIRK stock traded up $0.63 on Thursday, hitting $57.29. The stock had a trading volume of 1,254,205 shares, compared to its average volume of 1,066,157. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.91 and a quick ratio of 1.49. The business has a 50 day moving average of $51.45 and a 200 day moving average of $53.05. Birkenstock Holding plc has a 12-month low of $41.00 and a 12-month high of $64.78. The stock has a market cap of $10.76 billion, a price-to-earnings ratio of 93.92, a price-to-earnings-growth ratio of 1.19 and a beta of 2.22.

Birkenstock Company 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.