APG Asset Management N.V. Invests $1.71 Million in Birkenstock Holding plc (NYSE:BIRK)

APG Asset Management N.V. acquired a new stake in Birkenstock Holding plc (NYSE:BIRK) in the 4th quarter, Holdings Channel reports. The fund acquired 31,300 shares of the company’s stock, valued at approximately $1,713,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of BIRK. Norges Bank acquired a new stake in Birkenstock during the 4th quarter worth about $131,786,000. AGF Management Ltd. acquired a new position in shares of Birkenstock in the fourth quarter valued at about $37,153,000. Arrowstreet Capital Limited Partnership raised its stake in shares of Birkenstock by 9,658.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 470,182 shares of the company’s stock worth $26,641,000 after purchasing an additional 465,364 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Birkenstock by 581.8% during the fourth quarter. Principal Financial Group Inc. now owns 542,798 shares of the company’s stock worth $30,755,000 after purchasing an additional 463,191 shares during the period. Finally, Alliancebernstein L.P. boosted its position in Birkenstock by 27.2% in the fourth quarter. Alliancebernstein L.P. now owns 1,342,214 shares of the company’s stock valued at $76,050,000 after buying an additional 286,618 shares during the last quarter. 19.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BIRK. Stifel Nicolaus reduced their price target on shares of Birkenstock from $70.00 to $62.00 and set a “buy” rating for the company in a research report on Thursday. Robert W. Baird raised their target price on shares of Birkenstock from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. BMO Capital Markets upped their price target on shares of Birkenstock from $60.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. UBS Group lifted their price objective on Birkenstock from $83.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, Telsey Advisory Group reissued an “outperform” rating and issued a $70.00 price objective on shares of Birkenstock in a report on Thursday, February 20th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Birkenstock currently has a consensus rating of “Moderate Buy” and a consensus price target of $67.50.

Birkenstock Price Performance

Birkenstock stock opened at $48.06 on Friday. The stock has a market capitalization of $9.03 billion, a P/E ratio of 38.76, a P/E/G ratio of 1.02 and a beta of 1.71. The company’s fifty day moving average price is $48.71 and its 200 day moving average price is $51.38. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.08 and a current ratio of 2.84. Birkenstock Holding plc has a 1 year low of $40.56 and a 1 year high of $64.78.

Birkenstock (NYSE:BIRK) last announced its earnings results on Thursday, February 20th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.03. Birkenstock had a net margin of 11.73% and a return on equity of 9.52%. The business had revenue of $385.88 million for the quarter, compared to analyst estimates 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.

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.