Handelsbanken Fonder AB Increases Holdings in Birkenstock Holding plc (NYSE:BIRK)

Handelsbanken Fonder AB raised its stake in shares of Birkenstock Holding plc (NYSE:BIRK) by 118.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,100 shares of the company’s stock after buying an additional 8,200 shares during the quarter. Handelsbanken Fonder AB’s holdings in Birkenstock were worth $692,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Harbor Capital Advisors Inc. purchased a new position in Birkenstock during the first quarter valued at $4,291,000. Rhumbline Advisers raised its stake in Birkenstock by 5.9% during the first quarter. Rhumbline Advisers now owns 31,957 shares of the company’s stock valued at $1,465,000 after buying an additional 1,776 shares during the last quarter. GAMMA Investing LLC raised its stake in Birkenstock by 3,914.1% during the first quarter. GAMMA Investing LLC now owns 30,949 shares of the company’s stock valued at $1,419,000 after buying an additional 30,178 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Birkenstock by 170.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 72,538 shares of the company’s stock valued at $4,110,000 after buying an additional 45,700 shares during the last quarter. Finally, Woodline Partners LP raised its stake in Birkenstock by 129.7% during the fourth quarter. Woodline Partners LP now owns 191,219 shares of the company’s stock valued at $10,834,000 after buying an additional 107,981 shares during the last quarter. Hedge funds and other institutional investors own 19.93% of the company’s stock.

Birkenstock Stock Performance

Shares of BIRK opened at $51.51 on Monday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.84 and a quick ratio of 1.08. Birkenstock Holding plc has a one year low of $40.56 and a one year high of $64.78. The firm has a market capitalization of $9.68 billion, a P/E ratio of 41.54, a PEG ratio of 1.02 and a beta of 1.48. The business has a fifty day moving average of $52.01 and a 200 day moving average of $52.76.

Birkenstock (NYSE:BIRK) last issued its quarterly earnings data on Thursday, May 15th. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.57 by $0.01. Birkenstock had a return on equity of 9.52% and a net margin of 11.73%. The company had revenue of $623.54 million during the quarter, compared to analyst estimates of $567.84 million. During the same quarter in the previous year, the company posted $0.38 earnings per share. Birkenstock’s revenue was up 19.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Birkenstock Holding plc will post 1.77 EPS for the current year.

Wall Street Analyst Weigh In

BIRK has been the subject of a number of recent research reports. BTIG Research lifted their price objective on Birkenstock from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. Piper Sandler reduced their target price on Birkenstock from $70.00 to $60.00 and set an “overweight” rating for the company in a report on Friday, April 11th. Telsey Advisory Group reissued an “outperform” rating and issued a $70.00 target price on shares of Birkenstock in a report on Thursday, May 15th. UBS Group lifted their target price on Birkenstock from $72.00 to $76.00 and gave the stock a “buy” rating in a report on Friday, May 16th. Finally, William Blair reissued an “outperform” rating on shares of Birkenstock in a report on Tuesday, June 3rd. One research analyst has rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $68.07.

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.