Renaissance Capital LLC Purchases 39,831 Shares of Birkenstock Holding plc (NYSE:BIRK)

Renaissance Capital LLC grew its holdings in shares of Birkenstock Holding plc (NYSE:BIRK) by 94.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 82,190 shares of the company’s stock after acquiring an additional 39,831 shares during the quarter. Birkenstock makes up about 3.1% of Renaissance Capital LLC’s holdings, making the stock its 16th biggest holding. Renaissance Capital LLC’s holdings in Birkenstock were worth $4,657,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in BIRK. Bamco Inc. NY boosted its stake in shares of Birkenstock by 2.6% in the 3rd quarter. Bamco Inc. NY now owns 3,102,507 shares of the company’s stock valued at $152,923,000 after purchasing an additional 78,093 shares in the last quarter. FMR LLC raised its holdings in Birkenstock by 61.4% during the 3rd quarter. FMR LLC now owns 2,128,689 shares of the company’s stock worth $104,923,000 after purchasing an additional 809,784 shares during the last quarter. Holocene Advisors LP lifted its holdings in Birkenstock by 34.4% in the third quarter. Holocene Advisors LP now owns 501,806 shares of the company’s stock valued at $24,734,000 after buying an additional 128,552 shares during the period. State Street Corp boosted its position in shares of Birkenstock by 49.4% during the 3rd quarter. State Street Corp now owns 402,899 shares of the company’s stock valued at $19,859,000 after purchasing an additional 133,212 shares in the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in shares of Birkenstock by 12.7% during the 3rd quarter. Victory Capital Management Inc. now owns 388,360 shares of the company’s stock worth $19,142,000 after buying an additional 43,657 shares in the last quarter. Institutional investors own 19.93% of the company’s stock.

Analyst Upgrades and Downgrades

BIRK has been the subject of several research reports. UBS Group raised their target price on Birkenstock from $83.00 to $95.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $70.00 price objective on shares of Birkenstock in a research report on Wednesday, January 22nd. BTIG Research lifted their target price on Birkenstock from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Robert W. Baird lifted their price target on shares of Birkenstock from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Finally, HSBC upgraded shares of Birkenstock from a “hold” rating to a “buy” rating and increased their target price for the stock from $58.00 to $60.00 in a research report on Tuesday, December 3rd. Two equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $68.31.

Birkenstock Stock Down 5.9 %

Shares of NYSE:BIRK opened at $55.66 on Tuesday. The firm has a fifty day moving average of $56.73 and a 200 day moving average of $53.31. Birkenstock Holding plc has a 52-week low of $41.00 and a 52-week high of $64.78. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.20 and a current ratio of 2.60. The firm has a market capitalization of $10.45 billion, a PE ratio of 51.53, a price-to-earnings-growth ratio of 1.18 and a beta of 1.61.

About Birkenstock

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.