Norges Bank Makes New Investment in Birkenstock Holding plc (NYSE:BIRK)

Norges Bank purchased a new stake in shares of Birkenstock Holding plc (NYSE:BIRK - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 2,325,916 shares of the company's stock, valued at approximately $131,786,000. Norges Bank owned 1.24% of Birkenstock as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in BIRK. FMR LLC increased its position in shares of Birkenstock by 61.4% during the third quarter. FMR LLC now owns 2,128,689 shares of the company's stock valued at $104,923,000 after purchasing an additional 809,784 shares during the period. AGF Management Ltd. bought a new stake in Birkenstock in the 4th quarter valued at $37,153,000. Principal Financial Group Inc. raised its stake in shares of Birkenstock by 581.8% in 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 in the last quarter. Tredje AP fonden lifted its holdings in shares of Birkenstock by 106.7% during the 4th quarter. Tredje AP fonden now owns 310,000 shares of the company's stock worth $17,565,000 after acquiring an additional 160,000 shares during the period. Finally, BNP Paribas Financial Markets boosted its position in shares of Birkenstock by 299.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 193,268 shares of the company's stock valued at $9,526,000 after acquiring an additional 144,863 shares in the last quarter. Institutional investors and hedge funds own 19.93% of the company's stock.

Birkenstock Trading Down 1.5 %

Shares of NYSE BIRK traded down $0.67 during midday trading on Friday, hitting $43.96. The stock had a trading volume of 3,116,750 shares, compared to its average volume of 1,300,287. The firm has a market cap of $8.26 billion, a P/E ratio of 35.45, a price-to-earnings-growth ratio of 1.02 and a beta of 1.71. 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 debt-to-equity ratio of 0.48, a current ratio of 2.84 and a quick ratio of 1.08. The company's 50-day simple moving average is $50.61 and its 200 day simple moving average is $51.55.

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Birkenstock (NYSE:BIRK - Get Free Report) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.19 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $355.80 million. Research analysts anticipate that Birkenstock Holding plc will post 1.77 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BIRK. Piper Sandler initiated coverage on shares of Birkenstock in a research report on Tuesday, December 10th. They issued an "overweight" rating and a $65.00 price target for the company. BMO Capital Markets raised their target price on Birkenstock from $60.00 to $70.00 and gave the stock an "outperform" rating in a research report on Thursday, December 19th. UBS Group upped their price target on Birkenstock from $83.00 to $95.00 and gave the company a "buy" rating in a research report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft lifted their price objective on Birkenstock from $65.00 to $66.00 and gave the company a "buy" rating in a report on Thursday, December 19th. Finally, 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. 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. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $68.31.

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.