Voya Investment Management LLC Boosts Stake in Birkenstock Holding plc (NYSE:BIRK)

Voya Investment Management LLC lifted its position in Birkenstock Holding plc (NYSE:BIRK - Free Report) by 4,844.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 252,589 shares of the company's stock after purchasing an additional 247,480 shares during the quarter. Voya Investment Management LLC owned approximately 0.13% of Birkenstock worth $14,312,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Renaissance Capital LLC grew its position in shares of Birkenstock by 94.0% during the fourth quarter. Renaissance Capital LLC now owns 82,190 shares of the company's stock worth $4,657,000 after acquiring an additional 39,831 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new stake in Birkenstock during the 4th quarter worth $606,000. Handelsbanken Fonder AB purchased a new position in Birkenstock during the 4th quarter worth $391,000. Geode Capital Management LLC increased its stake in Birkenstock by 50.5% in the third quarter. Geode Capital Management LLC now owns 188,714 shares of the company's stock valued at $9,302,000 after purchasing an additional 63,289 shares during the period. Finally, Norges Bank purchased a new stake in shares of Birkenstock in the fourth quarter valued at about $131,786,000. Hedge funds and other institutional investors own 19.93% of the company's stock.

Birkenstock Stock Performance

Shares of BIRK stock opened at $50.74 on Monday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.08 and a current ratio of 2.84. The stock has a market cap of $9.53 billion, a PE ratio of 40.92, a P/E/G ratio of 1.02 and a beta of 1.71. Birkenstock Holding plc has a 1 year low of $40.56 and a 1 year high of $64.78. The stock has a fifty day moving average price of $47.19 and a 200 day moving average price of $51.38.

Birkenstock (NYSE:BIRK - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.19 EPS for the quarter, topping 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 business had revenue of $385.88 million for the quarter, compared to analyst estimates of $355.80 million. Sell-side analysts forecast that Birkenstock Holding plc will post 1.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

BIRK has been the topic of several recent research reports. Telsey Advisory Group restated an "outperform" rating and issued a $70.00 price target on shares of Birkenstock in a research report on Thursday, February 20th. Stifel Nicolaus dropped their target price on Birkenstock from $70.00 to $62.00 and set a "buy" rating on the stock in a report on Thursday, April 10th. Finally, Piper Sandler decreased their price target on Birkenstock from $70.00 to $60.00 and set an "overweight" rating for the company in a report on Friday, April 11th. Two research 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 a consensus rating of "Moderate Buy" and an average target price of $67.50.

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.

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