NewEdge Advisors LLC Acquires Shares of 800 Birkenstock Holding plc (NYSE:BIRK)

NewEdge Advisors LLC bought a new position in shares of Birkenstock Holding plc (NYSE:BIRK) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 800 shares of the company’s stock, valued at approximately $45,000.

Several other institutional investors have also recently made changes to their positions in the company. Jump Financial LLC acquired a new position in shares of Birkenstock during the 4th quarter worth approximately $1,217,000. XTX Topco Ltd acquired a new position in Birkenstock during the fourth quarter worth $700,000. Giverny Capital Inc. purchased a new position in Birkenstock during the fourth quarter valued at $1,552,000. Sterling Capital Management LLC grew its position in shares of Birkenstock by 49.7% in the fourth quarter. Sterling Capital Management LLC now owns 2,354 shares of the company’s stock valued at $133,000 after purchasing an additional 782 shares during the period. Finally, Raymond James Financial Inc. purchased a new stake in shares of Birkenstock during the fourth quarter worth about $283,000. 19.93% of the stock is owned by hedge funds and other institutional investors.

Birkenstock Trading Up 1.9 %

NYSE BIRK opened at $51.49 on Friday. 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 stock has a market capitalization of $9.67 billion, a P/E ratio of 41.52, a PEG ratio of 1.02 and a beta of 1.71. The firm’s 50-day moving average is $47.04 and its two-hundred day moving average is $51.39. Birkenstock Holding plc has a 12 month low of $40.56 and a 12 month high of $64.78.

Birkenstock (NYSE:BIRK) last posted 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 firm had revenue of $385.88 million during the quarter, compared to analysts’ expectations of $355.80 million. Birkenstock had a net margin of 11.73% and a return on equity of 9.52%. On average, sell-side analysts anticipate that Birkenstock Holding plc will post 1.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.