Barclays PLC Trims Holdings in Birkenstock Holding plc (NYSE:BIRK)

Barclays PLC lowered its holdings in Birkenstock Holding plc (NYSE:BIRK) by 98.0% in the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 7,795 shares of the company’s stock after selling 390,801 shares during the quarter. Barclays PLC’s holdings in Birkenstock were worth $441,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Renaissance Capital LLC lifted its stake in Birkenstock by 94.0% in the fourth quarter. Renaissance Capital LLC now owns 82,190 shares of the company’s stock worth $4,657,000 after acquiring an additional 39,831 shares during the period. Oppenheimer & Co. Inc. purchased a new stake in shares of Birkenstock in the 4th quarter worth about $606,000. Handelsbanken Fonder AB bought a new stake in shares of Birkenstock during the 4th quarter valued at about $391,000. Norges Bank purchased a new position in shares of Birkenstock during the fourth quarter valued at about $131,786,000. Finally, Principal Financial Group Inc. raised its stake in Birkenstock by 581.8% in the fourth quarter. Principal Financial Group Inc. now owns 542,798 shares of the company’s stock worth $30,755,000 after buying an additional 463,191 shares in the last quarter. 19.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BIRK has been the topic of several research reports. Piper Sandler cut their price objective on Birkenstock from $70.00 to $60.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Telsey Advisory Group restated an “outperform” rating and set a $70.00 price target on shares of Birkenstock in a research report on Friday. Stifel Nicolaus reduced their price target on Birkenstock from $70.00 to $62.00 and set a “buy” rating on the stock in a research note on Thursday, April 10th. Finally, UBS Group raised their price objective on Birkenstock from $68.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, May 5th. 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.06.

Birkenstock Price Performance

Shares of BIRK opened at $52.64 on Friday. The company has a market capitalization of $9.89 billion, a P/E ratio of 42.45, a price-to-earnings-growth ratio of 1.02 and a beta of 1.56. Birkenstock Holding plc has a twelve month low of $40.56 and a twelve month high of $64.78. The company has a quick ratio of 1.08, a current ratio of 2.84 and a debt-to-equity ratio of 0.48. The firm has a 50 day moving average of $47.37 and a 200 day moving average of $51.43.

Birkenstock (NYSE:BIRK) last posted its quarterly earnings results on Thursday, February 20th. The company reported $0.19 earnings per share for the quarter, topping 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 firm had revenue of $385.88 million during the quarter, compared to analysts’ expectations of $355.80 million. As a group, equities research analysts anticipate that Birkenstock Holding plc will post 1.77 earnings per share for the current fiscal 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.