State Street Corp Raises Holdings in Birkenstock Holding plc (NYSE:BIRK)

State Street Corp boosted its stake in shares of Birkenstock Holding plc (NYSE:BIRK - Free Report) by 49.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 402,899 shares of the company's stock after acquiring an additional 133,212 shares during the quarter. State Street Corp owned 0.21% of Birkenstock worth $19,859,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the stock. Stifel Financial Corp purchased a new stake in shares of Birkenstock during the 3rd quarter worth about $1,315,000. Quarry LP purchased a new position in Birkenstock during the third quarter worth approximately $25,000. Point72 DIFC Ltd acquired a new stake in Birkenstock in the third quarter valued at approximately $299,000. Polymer Capital Management HK LTD acquired a new stake in Birkenstock in the third quarter valued at approximately $425,000. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of Birkenstock in the third quarter valued at approximately $694,000. 19.93% of the stock is owned by institutional investors and hedge funds.

Birkenstock Stock Up 0.4 %

Birkenstock stock traded up $0.22 during midday trading on Tuesday, reaching $60.15. The company's stock had a trading volume of 491,988 shares, compared to its average volume of 1,067,741. 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 market cap of $11.30 billion, a P/E ratio of 98.61, a P/E/G ratio of 1.19 and a beta of 2.22. The company has a quick ratio of 1.49, a current ratio of 2.91 and a debt-to-equity ratio of 0.55. The business has a 50-day simple moving average of $50.34 and a 200-day simple moving average of $53.03.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on BIRK shares. HSBC raised shares of Birkenstock from a "hold" rating to a "buy" rating and lifted their price target for the company from $58.00 to $60.00 in a research note on Tuesday, December 3rd. Hsbc Global Res upgraded shares of Birkenstock to a "strong-buy" rating in a research report on Tuesday, December 3rd. BMO Capital Markets upped their price target on shares of Birkenstock from $60.00 to $70.00 and gave the stock an "outperform" rating in a research report on Thursday, December 19th. Telsey Advisory Group reiterated an "outperform" rating and set a $70.00 price objective on shares of Birkenstock in a research note on Thursday, December 19th. Finally, Robert W. Baird increased their target price on Birkenstock from $65.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Birkenstock has a consensus rating of "Moderate Buy" and an average 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.