Prudential PLC bought a new stake in Birkenstock Holding plc (NYSE:BIRK - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 7,950 shares of the company's stock, valued at approximately $450,000.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. ExodusPoint Capital Management LP lifted its holdings in shares of Birkenstock by 244.6% in the 4th quarter. ExodusPoint Capital Management LP now owns 56,365 shares of the company's stock valued at $3,194,000 after purchasing an additional 40,010 shares during the last quarter. Cinctive Capital Management LP purchased a new position in shares of Birkenstock during the fourth quarter worth approximately $3,888,000. Headlands Technologies LLC acquired a new position in shares of Birkenstock in the 4th quarter valued at $76,000. Alliancebernstein L.P. boosted its stake in Birkenstock by 27.2% during the 4th quarter. Alliancebernstein L.P. now owns 1,342,214 shares of the company's stock worth $76,050,000 after purchasing an additional 286,618 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its position in Birkenstock by 9,658.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 470,182 shares of the company's stock worth $26,641,000 after purchasing an additional 465,364 shares during the last quarter. Institutional investors and hedge funds own 19.93% of the company's stock.
Analyst Ratings Changes
Several brokerages have recently weighed in on BIRK. Stifel Nicolaus decreased their target price on shares of Birkenstock from $70.00 to $62.00 and set a "buy" rating for the company in a research note on Thursday. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Birkenstock from $65.00 to $66.00 and gave the company a "buy" rating in a report on Thursday, December 19th. UBS Group increased their price objective on shares of Birkenstock from $83.00 to $95.00 and gave the company a "buy" rating in a research note on Thursday, December 19th. BMO Capital Markets increased 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. Finally, Piper Sandler cut their price objective on Birkenstock from $70.00 to $60.00 and set an "overweight" rating for the company in a research report on Friday. Two 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 MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $67.50.
Get Our Latest Research Report on Birkenstock
Birkenstock Stock Performance
BIRK traded up $1.92 during trading on Monday, reaching $49.93. 418,244 shares of the company were exchanged, compared to its average volume of 1,344,576. The company has a current ratio of 2.84, a quick ratio of 1.08 and a debt-to-equity ratio of 0.48. The firm has a 50 day moving average of $48.71 and a 200 day moving average of $51.39. The stock has a market cap of $9.38 billion, a P/E ratio of 40.27, a PEG ratio of 1.02 and a beta of 1.71. Birkenstock Holding plc has a 52 week low of $40.56 and a 52 week high of $64.78.
Birkenstock (NYSE:BIRK - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.19 earnings per share for the quarter, beating the consensus estimate of $0.16 by $0.03. Birkenstock had a net margin of 11.73% and a return on equity of 9.52%. The company had revenue of $385.88 million during the quarter, compared to analyst estimates of $355.80 million. On average, sell-side analysts forecast that Birkenstock Holding plc will post 1.77 EPS for the current fiscal year.
Birkenstock Company Profile
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Free Report)
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.
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