Wells Fargo & Company MN Purchases 1,170 Shares of Birkenstock Holding plc (NYSE:BIRK)

Wells Fargo & Company MN raised its position in Birkenstock Holding plc (NYSE:BIRK) by 68.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,885 shares of the company’s stock after buying an additional 1,170 shares during the quarter. Wells Fargo & Company MN’s holdings in Birkenstock were worth $163,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in Birkenstock in the 4th quarter valued at about $131,786,000. Alliancebernstein L.P. increased its stake in shares of 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 in the last quarter. AGF Management Ltd. bought a new stake in shares of Birkenstock in the fourth quarter valued at approximately $37,153,000. Principal Financial Group Inc. lifted its stake in shares of Birkenstock by 581.8% during the 4th quarter. Principal Financial Group Inc. now owns 542,798 shares of the company’s stock valued at $30,755,000 after buying an additional 463,191 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Birkenstock by 9,658.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 470,182 shares of the company’s stock worth $26,641,000 after buying an additional 465,364 shares during the period. Hedge funds and other institutional investors own 19.93% of the company’s stock.

Birkenstock Stock Up 0.3 %

Shares of NYSE:BIRK opened at $52.64 on Friday. The stock 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. The stock’s 50-day moving average price is $47.37 and its 200-day moving average price is $51.43. The company has a current ratio of 2.84, a quick ratio of 1.08 and a debt-to-equity ratio of 0.48. Birkenstock Holding plc has a 12-month low of $40.56 and a 12-month high of $64.78.

Birkenstock (NYSE:BIRK) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $355.80 million. On average, equities analysts anticipate that Birkenstock Holding plc will post 1.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on BIRK shares. Telsey Advisory Group restated an “outperform” rating and set a $70.00 target price on shares of Birkenstock in a research report on Friday. Stifel Nicolaus cut their target price on Birkenstock from $70.00 to $62.00 and set a “buy” rating for the company in a research note on Thursday, April 10th. UBS Group upped their price target on Birkenstock from $68.00 to $72.00 and gave the company a “buy” rating in a research report on Monday, May 5th. Finally, Piper Sandler cut their price objective on shares of Birkenstock from $70.00 to $60.00 and set an “overweight” rating for the company in a research report on Friday, April 11th. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $66.06.

Birkenstock Company Profile

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.