Kessler Investment Group LLC Buys New Holdings in Birkenstock Holding plc (NYSE:BIRK)

Kessler Investment Group LLC acquired a new stake in Birkenstock Holding plc (NYSE:BIRK - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 118,898 shares of the company's stock, valued at approximately $6,737,000. Birkenstock accounts for 3.2% of Kessler Investment Group LLC's holdings, making the stock its 14th biggest holding. Kessler Investment Group LLC owned 0.06% of Birkenstock at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BIRK. GAMMA Investing LLC raised its holdings in shares of Birkenstock by 33.7% during the third quarter. GAMMA Investing LLC now owns 893 shares of the company's stock worth $44,000 after acquiring an additional 225 shares in the last quarter. MetLife Investment Management LLC raised its stake in shares of Birkenstock by 52.2% during the 3rd quarter. MetLife Investment Management LLC now owns 688 shares of the company's stock worth $34,000 after purchasing an additional 236 shares in the last quarter. Quarry LP acquired a new stake in shares of Birkenstock during the 3rd quarter valued at about $25,000. Amalgamated Bank grew its stake in shares of Birkenstock by 51.8% in the 3rd quarter. Amalgamated Bank now owns 2,071 shares of the company's stock valued at $102,000 after buying an additional 707 shares in the last quarter. Finally, Venturi Wealth Management LLC increased its holdings in Birkenstock by 58.8% in the third quarter. Venturi Wealth Management LLC now owns 6,670 shares of the company's stock worth $329,000 after buying an additional 2,470 shares during the last quarter. Hedge funds and other institutional investors own 19.93% of the company's stock.

Wall Street Analyst Weigh In

BIRK has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Birkenstock from $65.00 to $66.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. BMO Capital Markets upped their price objective on shares of Birkenstock from $60.00 to $70.00 and gave the stock an "outperform" rating in a report on Thursday, December 19th. UBS Group raised their target price on Birkenstock from $83.00 to $95.00 and gave the company a "buy" rating in a report on Thursday, December 19th. 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. Finally, Hsbc Global Res raised Birkenstock to a "strong-buy" rating in a report on Tuesday, December 3rd. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $68.31.

Birkenstock Stock Performance

NYSE BIRK traded down $0.03 during midday trading on Wednesday, hitting $54.94. The company had a trading volume of 3,151,116 shares, compared to its average volume of 1,484,191. The firm has a fifty day simple moving average of $57.59 and a two-hundred day simple moving average of $53.26. Birkenstock Holding plc has a fifty-two week low of $41.00 and a fifty-two week high of $64.78. The company has a quick ratio of 1.20, a current ratio of 2.60 and a debt-to-equity ratio of 0.50. The stock has a market cap of $10.32 billion, a price-to-earnings ratio of 50.87, a P/E/G ratio of 1.10 and a beta of 1.61.

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.