Zurcher Kantonalbank Zurich Cantonalbank Buys Shares of 38,704 Birkenstock Holding plc (NYSE:BIRK)

Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in Birkenstock Holding plc (NYSE:BIRK) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 38,704 shares of the company’s stock, valued at approximately $1,886,000.

Separately, Venturi Wealth Management LLC purchased a new position in shares of Birkenstock during the 4th quarter valued at about $83,000. 19.93% of the stock is currently owned by hedge funds and other institutional investors.

Birkenstock Stock Up 0.4 %

Birkenstock stock opened at $45.04 on Thursday. Birkenstock Holding plc has a twelve month low of $35.83 and a twelve month high of $55.00. The stock’s fifty day moving average is $46.76. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.28 and a current ratio of 2.85.

Birkenstock (NYSE:BIRK) last issued its earnings results on Thursday, February 29th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). The company had revenue of $303.00 million for the quarter, compared to analysts’ expectations of $289.09 million. Birkenstock’s quarterly revenue was up 21.9% on a year-over-year basis. On average, analysts predict that Birkenstock Holding plc will post 1.28 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on BIRK shares. Piper Sandler lifted their price objective on Birkenstock from $56.50 to $61.00 and gave the company an “overweight” rating in a research note on Friday, March 1st. Robert W. Baird lifted their price objective on Birkenstock from $54.00 to $58.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Telsey Advisory Group lowered Birkenstock from an “outperform” rating to a “market perform” rating and set a $56.00 price target for the company. in a research note on Thursday, February 29th. BMO Capital Markets lifted their price target on Birkenstock from $50.00 to $54.00 and gave the company an “outperform” rating in a research note on Friday, March 1st. Finally, UBS Group lifted their price target on Birkenstock from $51.00 to $52.00 and gave the company a “neutral” rating in a research note on Monday, March 4th. Eight investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.15.

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.