Blueshift Asset Management LLC Acquires Shares of 5,889 Birkenstock Holding plc (NYSE:BIRK)

Blueshift Asset Management LLC acquired a new stake in Birkenstock Holding plc (NYSE:BIRK) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,889 shares of the company’s stock, valued at approximately $334,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. FMR LLC lifted its position in Birkenstock by 61.4% during the third quarter. FMR LLC now owns 2,128,689 shares of the company’s stock worth $104,923,000 after acquiring an additional 809,784 shares during the last quarter. AGF Management Ltd. acquired a new stake in Birkenstock during the 4th quarter worth approximately $37,153,000. Principal Financial Group Inc. boosted its stake in Birkenstock by 581.8% in the 4th quarter. Principal Financial Group Inc. now owns 542,798 shares of the company’s stock valued at $30,755,000 after purchasing an additional 463,191 shares during the period. Verition Fund Management LLC grew its holdings in Birkenstock by 201.0% in the 3rd quarter. Verition Fund Management LLC now owns 345,852 shares of the company’s stock valued at $17,047,000 after buying an additional 230,947 shares in the last quarter. Finally, Tredje AP fonden increased its position in Birkenstock by 106.7% during the 4th quarter. Tredje AP fonden now owns 310,000 shares of the company’s stock worth $17,565,000 after buying an additional 160,000 shares during the period. Institutional investors own 19.93% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on BIRK shares. Piper Sandler started coverage on shares of Birkenstock in a research note on Tuesday, December 10th. They issued an “overweight” rating and a $65.00 price target on the stock. BTIG Research increased their target price on shares of Birkenstock from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Birkenstock from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Robert W. Baird raised their price objective on Birkenstock from $65.00 to $72.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Finally, UBS Group upped their target price on Birkenstock from $83.00 to $95.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Two investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Birkenstock currently has an average rating of “Moderate Buy” and an average target price of $68.31.

Birkenstock Stock Performance

NYSE BIRK opened at $45.33 on Friday. The firm’s fifty day moving average price is $53.06 and its two-hundred day moving average price is $51.55. The stock has a market cap of $8.51 billion, a PE ratio of 36.56, a PEG ratio of 1.02 and a beta of 1.90. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.08 and a current ratio of 2.84. Birkenstock Holding plc has a fifty-two week low of $41.00 and a fifty-two week high of $64.78.

Birkenstock (NYSE:BIRK) last issued its quarterly earnings data on Thursday, February 20th. The company reported $0.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. The business had revenue of $385.88 million for the quarter, compared to analyst estimates of $355.80 million. Birkenstock had a return on equity of 9.52% and a net margin of 11.73%. On average, equities analysts expect that Birkenstock Holding plc will post 1.77 EPS for the current fiscal 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.