Zurcher Kantonalbank Zurich Cantonalbank Takes $1.89 Million Position in Birkenstock Holding plc (NYSE:BIRK)

Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Birkenstock Holding plc (NYSE:BIRK) during the fourth quarter, HoldingsChannel.com reports. The firm purchased 38,704 shares of the company’s stock, valued at approximately $1,886,000.

Separately, Venturi Wealth Management LLC acquired a new stake in Birkenstock during the 4th quarter worth $83,000. 19.93% of the stock is currently owned by institutional investors.

Birkenstock Stock Performance

Shares of NYSE BIRK opened at $45.04 on Thursday. The firm has a 50-day moving average of $46.76. The company has a debt-to-equity ratio of 0.80, a current ratio of 2.85 and a quick ratio of 1.28. Birkenstock Holding plc has a fifty-two week low of $35.83 and a fifty-two week high of $55.00.

Birkenstock (NYSE:BIRK) last posted its quarterly earnings results on Thursday, February 29th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). The company had revenue of $303.00 million during the quarter, compared to analyst estimates of $289.09 million. Birkenstock’s revenue was up 21.9% on a year-over-year basis. Research analysts anticipate that Birkenstock Holding plc will post 1.28 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on BIRK. Piper Sandler raised their price objective on Birkenstock from $56.50 to $61.00 and gave the stock an “overweight” rating in a research note on Friday, March 1st. BMO Capital Markets raised their price objective on Birkenstock from $50.00 to $54.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. Telsey Advisory Group downgraded Birkenstock from an “outperform” rating to a “market perform” rating and set a $56.00 price objective on the stock. in a research note on Thursday, February 29th. UBS Group raised their price objective on Birkenstock from $51.00 to $52.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. Finally, Robert W. Baird raised their price objective on Birkenstock from $54.00 to $58.00 and gave the stock an “outperform” rating in a research note on Friday, March 1st. Eight research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $49.15.

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.