Tredje AP fonden Boosts Position in Birkenstock Holding plc (NYSE:BIRK)

Tredje AP fonden boosted its holdings in Birkenstock Holding plc (NYSE:BIRK) by 106.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 310,000 shares of the company’s stock after purchasing an additional 160,000 shares during the quarter. Tredje AP fonden’s holdings in Birkenstock were worth $17,565,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of BIRK. Quarry LP purchased a new stake in shares of Birkenstock during the third quarter valued at approximately $25,000. MetLife Investment Management LLC raised its stake in shares of Birkenstock by 52.2% during the third quarter. MetLife Investment Management LLC now owns 688 shares of the company’s stock valued at $34,000 after purchasing an additional 236 shares during the period. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Birkenstock during the fourth quarter valued at approximately $34,000. Amalgamated Bank raised its stake in shares of Birkenstock by 51.8% during the third quarter. Amalgamated Bank now owns 2,071 shares of the company’s stock valued at $102,000 after purchasing an additional 707 shares during the period. Finally, R Squared Ltd purchased a new stake in shares of Birkenstock during the fourth quarter valued at approximately $143,000. Hedge funds and other institutional investors own 19.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Piper Sandler assumed coverage on shares of Birkenstock in a research report on Tuesday, December 10th. They set an “overweight” rating and a $65.00 price target for the company. Deutsche Bank Aktiengesellschaft raised their price target on shares of Birkenstock from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Hsbc Global Res raised shares of Birkenstock to a “strong-buy” rating in a research report on Tuesday, December 3rd. Robert W. Baird raised their price target on shares of Birkenstock from $65.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $70.00 price target on shares of Birkenstock in a research report on Thursday, February 20th. Two 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 stock. According to MarketBeat.com, Birkenstock has a consensus rating of “Moderate Buy” and an average target price of $68.31.

Birkenstock Stock Performance

Birkenstock stock opened at $46.45 on Thursday. Birkenstock Holding plc has a 12 month low of $41.00 and a 12 month high of $64.78. The company has a market cap of $8.72 billion, a PE ratio of 37.46, a P/E/G ratio of 1.02 and a beta of 1.90. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.84 and a quick ratio of 1.08. The company has a fifty day moving average price of $54.83 and a two-hundred day moving average price of $52.07.

Birkenstock (NYSE:BIRK) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.19 earnings per share (EPS) 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 the consensus estimate of $355.80 million. Research analysts expect that Birkenstock Holding plc will post 1.77 earnings per share 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.