Premier Fund Managers Ltd Invests $920,000 in Birkenstock Holding plc (NYSE:BIRK)

Premier Fund Managers Ltd acquired a new stake in Birkenstock Holding plc (NYSE:BIRK - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 15,945 shares of the company's stock, valued at approximately $920,000.

A number of other hedge funds also recently made changes to their positions in BIRK. Charles Schwab Investment Management Inc. boosted its holdings in Birkenstock by 59.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,627 shares of the company's stock worth $327,000 after purchasing an additional 2,473 shares during the period. FMR LLC grew its position in shares of Birkenstock by 61.4% during the 3rd quarter. FMR LLC now owns 2,128,689 shares of the company's stock valued at $104,923,000 after buying an additional 809,784 shares during the last quarter. BNP Paribas Financial Markets raised its stake in Birkenstock by 299.3% during the third quarter. BNP Paribas Financial Markets now owns 193,268 shares of the company's stock worth $9,526,000 after acquiring an additional 144,863 shares during the period. MetLife Investment Management LLC lifted its holdings in 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 acquiring an additional 236 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Birkenstock in the third quarter valued at approximately $1,323,000. Hedge funds and other institutional investors own 19.93% of the company's stock.

Analyst Ratings Changes

BIRK has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft upped their price objective on Birkenstock from $65.00 to $66.00 and gave the stock a "buy" rating in a research note on Thursday, December 19th. Robert W. Baird raised their price target on Birkenstock from $65.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday, December 19th. Piper Sandler began coverage on shares of Birkenstock in a research note on Tuesday, December 10th. They set an "overweight" rating and a $65.00 target price on the stock. Telsey Advisory Group reiterated an "outperform" rating and set a $70.00 price objective on shares of Birkenstock in a research note on Thursday, February 20th. Finally, Hsbc Global Res upgraded Birkenstock to a "strong-buy" rating in a report on Tuesday, December 3rd. Two equities research 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 stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $68.31.

Remove Ads

Birkenstock Stock Performance

BIRK traded up $0.33 during trading on Tuesday, hitting $46.18. The stock had a trading volume of 372,459 shares, compared to its average volume of 1,588,538. The company has a current ratio of 2.84, a quick ratio of 1.08 and a debt-to-equity ratio of 0.48. Birkenstock Holding plc has a 12 month low of $41.00 and a 12 month high of $64.78. The company has a 50 day simple moving average of $51.69 and a 200-day simple moving average of $51.64. The firm has a market cap of $8.67 billion, a PE ratio of 37.25, a P/E/G ratio of 1.02 and a beta of 1.90.

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