Geode Capital Management LLC Buys 88,390 Shares of Birkenstock Holding PLC $BIRK

Geode Capital Management LLC lifted its position in Birkenstock Holding PLC (NYSE:BIRK) by 44.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 285,816 shares of the company’s stock after buying an additional 88,390 shares during the quarter. Geode Capital Management LLC owned about 0.15% of Birkenstock worth $14,056,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Westfield Capital Management Co. LP acquired a new stake in Birkenstock in the first quarter valued at $72,108,000. Nuveen LLC bought a new stake in shares of Birkenstock in the 1st quarter valued at about $52,385,000. T. Rowe Price Investment Management Inc. lifted its stake in Birkenstock by 25.3% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,167,145 shares of the company’s stock valued at $236,914,000 after purchasing an additional 1,042,891 shares during the last quarter. Swedbank AB acquired a new stake in Birkenstock in the 1st quarter valued at about $45,850,000. Finally, AGF Management Ltd. grew its holdings in Birkenstock by 72.8% during the second quarter. AGF Management Ltd. now owns 2,038,210 shares of the company’s stock worth $100,239,000 after purchasing an additional 858,522 shares during the period. 19.93% of the stock is currently owned by institutional investors and hedge funds.

Birkenstock Stock Up 0.8%

BIRK stock opened at $43.66 on Tuesday. Birkenstock Holding PLC has a fifty-two week low of $38.16 and a fifty-two week high of $62.66. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.78 and a quick ratio of 1.29. The stock has a market capitalization of $8.20 billion, a price-to-earnings ratio of 24.26, a PEG ratio of 0.83 and a beta of 1.14. The business’s fifty day moving average price is $42.26 and its two-hundred day moving average price is $47.79.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Telsey Advisory Group restated an “outperform” rating and issued a $70.00 price objective on shares of Birkenstock in a research note on Friday, September 26th. JPMorgan Chase & Co. dropped their price target on Birkenstock from $81.00 to $66.00 and set an “overweight” rating on the stock in a research note on Friday, September 19th. UBS Group set a $77.00 price target on Birkenstock and gave the company a “buy” rating in a report on Tuesday, August 5th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Birkenstock in a report on Tuesday, November 25th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $68.38.

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.