Handelsbanken Fonder AB Takes $391,000 Position in Birkenstock Holding plc (NYSE:BIRK)

Handelsbanken Fonder AB bought a new position in shares of Birkenstock Holding plc (NYSE:BIRK - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 6,900 shares of the company's stock, valued at approximately $391,000.

Other institutional investors also recently modified their holdings of the company. MetLife Investment Management LLC raised its stake in shares of Birkenstock by 52.2% in the third quarter. MetLife Investment Management LLC now owns 688 shares of the company's stock worth $34,000 after purchasing an additional 236 shares during the last quarter. Quarry LP bought a new stake in Birkenstock during the third quarter worth $25,000. Venturi Wealth Management LLC raised its position in Birkenstock by 9.3% in the 4th quarter. Venturi Wealth Management LLC now owns 7,292 shares of the company's stock valued at $413,000 after buying an additional 622 shares during the last quarter. Amalgamated Bank lifted its stake in 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 acquiring an additional 707 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in Birkenstock by 59.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,627 shares of the company's stock valued at $327,000 after acquiring an additional 2,473 shares in the last quarter. 19.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently weighed in on BIRK shares. BMO Capital Markets raised their price target on shares of Birkenstock from $60.00 to $70.00 and gave the company an "outperform" rating in a research report on Thursday, December 19th. UBS Group lifted their target price 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 reaffirmed an "outperform" rating and issued a $70.00 target price on shares of Birkenstock in a report on Thursday, February 20th. BTIG Research increased their price target on Birkenstock from $60.00 to $70.00 and gave the company a "buy" rating in a research report on Wednesday, December 18th. Finally, HSBC raised Birkenstock from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $58.00 to $60.00 in a research report on Tuesday, December 3rd. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $68.31.

Birkenstock Stock Performance

Shares of BIRK traded down $1.40 during trading hours on Monday, hitting $48.08. The company's stock had a trading volume of 952,629 shares, compared to its average volume of 1,537,281. The company has a market cap of $9.03 billion, a price-to-earnings ratio of 38.77, a PEG ratio of 1.02 and a beta of 1.61. 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 business has a 50 day simple moving average of $56.84 and a two-hundred day simple moving average of $52.91. 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 issued its 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. The business had revenue of $385.88 million for the quarter, compared to analysts' expectations of $355.80 million. Birkenstock had a net margin of 11.73% and a return on equity of 9.52%. On average, equities analysts expect that Birkenstock Holding plc will post 1.77 earnings per share for the current fiscal 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.