Birkenstock Holding PLC $BIRK Shares Bought by Federated Hermes Inc.

Federated Hermes Inc. lifted its holdings in shares of Birkenstock Holding PLC (NYSE:BIRK) by 39.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,331,927 shares of the company’s stock after acquiring an additional 379,759 shares during the period. Federated Hermes Inc.’s holdings in Birkenstock were worth $65,504,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in BIRK. GAMMA Investing LLC boosted its holdings in shares of Birkenstock by 34.5% in the second quarter. GAMMA Investing LLC now owns 908 shares of the company’s stock valued at $45,000 after acquiring an additional 233 shares in the last quarter. Connable Office Inc. lifted its position in Birkenstock by 7.8% in the second quarter. Connable Office Inc. now owns 4,767 shares of the company’s stock worth $234,000 after purchasing an additional 344 shares during the period. NewEdge Advisors LLC boosted its stake in Birkenstock by 61.0% during the 1st quarter. NewEdge Advisors LLC now owns 1,288 shares of the company’s stock valued at $59,000 after purchasing an additional 488 shares in the last quarter. Amalgamated Bank increased its position in shares of Birkenstock by 26.8% during the 2nd quarter. Amalgamated Bank now owns 2,632 shares of the company’s stock valued at $129,000 after purchasing an additional 556 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Birkenstock by 10.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 7,455 shares of the company’s stock valued at $342,000 after purchasing an additional 681 shares during the period. 19.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on BIRK shares. Weiss Ratings restated a “hold (c-)” rating on shares of Birkenstock in a report on Monday, December 1st. Telsey Advisory Group reaffirmed an “outperform” rating and set a $70.00 target price on shares of Birkenstock in a research report on Friday, September 26th. Finally, JPMorgan Chase & Co. decreased their price target on Birkenstock from $81.00 to $66.00 and set an “overweight” rating for the company in a research report on Friday, September 19th. Thirteen research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Birkenstock has an average rating of “Moderate Buy” and an average target price of $69.08.

Birkenstock Trading Up 2.7%

NYSE BIRK opened at $44.13 on Monday. The firm’s 50 day moving average price is $42.10 and its two-hundred day moving average price is $47.43. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.29 and a current ratio of 2.78. Birkenstock Holding PLC has a twelve month low of $38.16 and a twelve month high of $62.66. The stock has a market cap of $8.29 billion, a price-to-earnings ratio of 24.51, a PEG ratio of 0.84 and a beta of 1.14.

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.