Geode Capital Management LLC Increases Stock Position in Birkenstock Holding plc (NYSE:BIRK)

Geode Capital Management LLC raised its holdings in shares of Birkenstock Holding plc (NYSE:BIRK) by 0.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 188,961 shares of the company’s stock after purchasing an additional 247 shares during the period. Geode Capital Management LLC owned approximately 0.10% of Birkenstock worth $10,707,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Signaturefd LLC boosted its position in shares of Birkenstock by 642.6% during the fourth quarter. Signaturefd LLC now owns 505 shares of the company’s stock valued at $29,000 after buying an additional 437 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in shares of Birkenstock during the 4th quarter valued at about $34,000. JPMorgan Chase & Co. grew its stake in shares of Birkenstock by 112.0% in the fourth quarter. JPMorgan Chase & Co. now owns 1,338 shares of the company’s stock worth $76,000 after acquiring an additional 707 shares during the period. R Squared Ltd purchased a new position in shares of Birkenstock during the fourth quarter valued at approximately $143,000. Finally, Machina Capital S.A.S. purchased a new position in shares of Birkenstock during the fourth quarter valued at approximately $219,000. Institutional investors own 19.93% of the company’s stock.

Birkenstock Price Performance

Shares of NYSE:BIRK opened at $48.12 on Wednesday. The firm’s 50 day simple moving average is $47.50 and its two-hundred day simple moving average is $51.33. 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 market capitalization of $9.04 billion, a P/E ratio of 38.81, 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.

Birkenstock (NYSE:BIRK) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.16 by $0.03. Birkenstock had a return on equity of 9.52% and a net margin of 11.73%. The business had revenue of $385.88 million for the quarter, compared to the consensus estimate of $355.80 million. Research analysts expect that Birkenstock Holding plc will post 1.77 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on BIRK shares. Piper Sandler cut their target price on shares of Birkenstock from $70.00 to $60.00 and set an “overweight” rating for the company in a research report on Friday, April 11th. Telsey Advisory Group reiterated an “outperform” rating and set a $70.00 price objective on shares of Birkenstock in a research report on Thursday, February 20th. Finally, Stifel Nicolaus dropped their target price on Birkenstock from $70.00 to $62.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $67.50.

Birkenstock 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.