Fortress Investment Group LLC Increases Stake in Birkenstock Holding PLC $BIRK

Fortress Investment Group LLC increased its stake in shares of Birkenstock Holding PLC (NYSE:BIRK) by 91.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 250,000 shares of the company’s stock after acquiring an additional 119,225 shares during the quarter. Birkenstock comprises about 1.7% of Fortress Investment Group LLC’s portfolio, making the stock its 12th largest holding. Fortress Investment Group LLC owned approximately 0.13% of Birkenstock worth $12,295,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Balyasny Asset Management L.P. lifted its stake in Birkenstock by 214.3% in the 2nd quarter. Balyasny Asset Management L.P. now owns 2,991,187 shares of the company’s stock worth $147,107,000 after purchasing an additional 2,039,623 shares in the last quarter. Norges Bank purchased a new position in Birkenstock during the 2nd quarter valued at approximately $62,097,000. Nuveen LLC purchased a new position in Birkenstock during the 1st quarter valued at approximately $52,385,000. T. Rowe Price Investment Management Inc. increased 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 worth $236,914,000 after acquiring an additional 1,042,891 shares during the last quarter. Finally, Swedbank AB purchased a new stake in shares of Birkenstock during the 1st quarter worth approximately $45,850,000. 19.93% of the stock is owned by hedge funds and other institutional investors.

Birkenstock Stock Up 1.1%

Shares of NYSE BIRK opened at $45.51 on Friday. Birkenstock Holding PLC has a 52-week low of $38.16 and a 52-week high of $62.66. The firm has a market capitalization of $8.55 billion, a price-to-earnings ratio of 25.28, a PEG ratio of 0.86 and a beta of 1.14. The stock has a 50 day moving average price of $41.96 and a 200 day moving average price of $47.19. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.29 and a current ratio of 2.78.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Guggenheim upgraded shares of Birkenstock to a “strong-buy” rating in a research report on Wednesday. JPMorgan Chase & Co. reduced their price objective on Birkenstock from $81.00 to $66.00 and set an “overweight” rating on the stock in a research note on Friday, September 19th. Telsey Advisory Group reissued an “outperform” rating and set a $70.00 target price on shares of Birkenstock in a research report on Friday. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Birkenstock in a research report on Monday. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $68.38.

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.