Legal & General Group Plc Boosts Holdings in Birkenstock Holding plc (NYSE:BIRK)

Legal & General Group Plc grew its stake in Birkenstock Holding plc (NYSE:BIRK) by 12.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,158 shares of the company’s stock after buying an additional 347 shares during the quarter. Legal & General Group Plc’s holdings in Birkenstock were worth $179,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in BIRK. Norges Bank purchased a new stake in shares of Birkenstock in the fourth quarter worth about $131,786,000. AGF Management Ltd. purchased a new stake in shares of Birkenstock during the 4th quarter worth approximately $37,153,000. Arrowstreet Capital Limited Partnership boosted its position in shares of Birkenstock by 9,658.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 470,182 shares of the company’s stock valued at $26,641,000 after acquiring an additional 465,364 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Birkenstock by 581.8% in the fourth 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 in the last quarter. Finally, Alliancebernstein L.P. increased its position in Birkenstock by 27.2% in the fourth quarter. Alliancebernstein L.P. now owns 1,342,214 shares of the company’s stock worth $76,050,000 after purchasing an additional 286,618 shares during the last quarter. 19.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Birkenstock Stock Down 1.9 %

Shares of NYSE:BIRK opened at $50.46 on Friday. Birkenstock Holding plc has a 12-month low of $40.56 and a 12-month high of $64.78. The stock’s 50-day moving average price is $47.02 and its two-hundred day moving average price is $51.38. The company has a current ratio of 2.84, a quick ratio of 1.08 and a debt-to-equity ratio of 0.48. The firm has a market cap of $9.48 billion, a price-to-earnings ratio of 40.69, a PEG ratio of 1.02 and a beta of 1.71.

Birkenstock (NYSE:BIRK) last posted its earnings results on Thursday, February 20th. The company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. Birkenstock had a net margin of 11.73% and a return on equity of 9.52%. The firm had revenue of $385.88 million during the quarter, compared to the consensus estimate of $355.80 million. On average, research analysts forecast that Birkenstock Holding plc will post 1.77 EPS 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.