PCJ Investment Counsel Ltd. Invests $708,000 in Birkenstock Holding plc (NYSE:BIRK)

PCJ Investment Counsel Ltd. bought a new position in Birkenstock Holding plc (NYSE:BIRK - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 12,500 shares of the company's stock, valued at approximately $708,000.

Several other institutional investors have also recently bought and sold shares of BIRK. Amalgamated Bank raised its holdings in Birkenstock by 51.8% in 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. Venturi Wealth Management LLC raised its holdings in Birkenstock by 58.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 6,670 shares of the company's stock worth $329,000 after acquiring an additional 2,470 shares during the period. GSA Capital Partners LLP raised its holdings in Birkenstock by 109.0% in the 3rd quarter. GSA Capital Partners LLP now owns 27,051 shares of the company's stock worth $1,333,000 after acquiring an additional 14,108 shares during the period. Aigen Investment Management LP raised its holdings in Birkenstock by 35.9% in the 3rd quarter. Aigen Investment Management LP now owns 11,301 shares of the company's stock worth $557,000 after acquiring an additional 2,986 shares during the period. Finally, Victory Capital Management Inc. raised its holdings in Birkenstock by 12.7% in the 3rd quarter. Victory Capital Management Inc. now owns 388,360 shares of the company's stock worth $19,142,000 after acquiring an additional 43,657 shares during the period. Institutional investors own 19.93% of the company's stock.

Wall Street Analysts Forecast Growth

BIRK has been the topic of several recent analyst reports. HSBC upgraded shares of Birkenstock from a "hold" rating to a "buy" rating and lifted their target price for the stock from $58.00 to $60.00 in a report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Birkenstock from $65.00 to $66.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Robert W. Baird boosted their price objective on shares of Birkenstock from $65.00 to $72.00 and gave the stock an "outperform" rating in a report on Thursday, December 19th. Telsey Advisory Group restated an "outperform" rating and set a $70.00 price objective on shares of Birkenstock in a report on Thursday, February 20th. Finally, BMO Capital Markets boosted 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. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $68.31.

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Birkenstock Price Performance

NYSE:BIRK traded up $1.57 on Wednesday, reaching $46.45. The stock had a trading volume of 2,727,047 shares, compared to its average volume of 1,627,104. The company has a market capitalization of $8.72 billion, a P/E ratio of 37.46, a price-to-earnings-growth ratio of 1.02 and a beta of 1.90. Birkenstock Holding plc has a 1-year low of $41.00 and a 1-year high of $64.78. The company has a quick ratio of 1.08, a current ratio of 2.84 and a debt-to-equity ratio of 0.48. The stock has a fifty day moving average price of $55.03 and a 200-day moving average price of $52.11.

Birkenstock (NYSE:BIRK - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.19 EPS for the quarter, beating analysts' consensus estimates of $0.16 by $0.03. The firm had revenue of $385.88 million for the quarter, compared to analyst estimates of $355.80 million. Birkenstock had a net margin of 11.73% and a return on equity of 9.52%. Research analysts forecast that Birkenstock Holding plc will post 1.77 EPS for the current year.

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.