Renaissance Technologies LLC Increases Stake in Birkenstock Holding plc (NYSE:BIRK)

Renaissance Technologies LLC lifted its holdings in shares of Birkenstock Holding plc (NYSE:BIRK) by 9.3% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 552,500 shares of the company’s stock after purchasing an additional 46,882 shares during the period. Renaissance Technologies LLC’s holdings in Birkenstock were worth $31,305,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its position in Birkenstock by 59.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,627 shares of the company’s stock worth $327,000 after acquiring an additional 2,473 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Birkenstock in the third quarter worth approximately $1,323,000. HighTower Advisors LLC grew its holdings in shares of Birkenstock by 370.8% in the third quarter. HighTower Advisors LLC now owns 26,165 shares of the company’s stock worth $1,289,000 after purchasing an additional 20,607 shares during the last quarter. Quarry LP purchased a new position in shares of Birkenstock in the third quarter worth $25,000. Finally, Stifel Financial Corp bought a new stake in Birkenstock during the 3rd quarter valued at $1,315,000. Hedge funds and other institutional investors own 19.93% of the company’s stock.

Birkenstock Stock Up 1.7 %

Shares of Birkenstock stock opened at $48.06 on Friday. Birkenstock Holding plc has a 1 year low of $40.56 and a 1 year high of $64.78. The firm has a market cap of $9.03 billion, a price-to-earnings ratio of 38.76, a PEG ratio of 1.02 and a beta of 1.71. The company has a 50-day moving average of $48.71 and a 200 day moving average of $51.38. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.84 and a quick ratio of 1.08.

Birkenstock (NYSE:BIRK) last announced its earnings results 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 net margin of 11.73% and a return on equity of 9.52%. The business had revenue of $385.88 million during the quarter, compared to the consensus estimate of $355.80 million. As a group, sell-side analysts anticipate that Birkenstock Holding plc will post 1.77 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. UBS Group raised their price target on shares of Birkenstock from $83.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Stifel Nicolaus cut their target price on Birkenstock from $70.00 to $62.00 and set a “buy” rating on the stock in a research note on Thursday. Deutsche Bank Aktiengesellschaft upped their price target on Birkenstock from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. BTIG Research lifted their price objective on Birkenstock from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $70.00 target price on shares of Birkenstock in a report on Thursday, February 20th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $67.50.

Birkenstock 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.