Kessler Investment Group LLC Invests $6.74 Million in Birkenstock Holding plc (NYSE:BIRK)

Kessler Investment Group LLC purchased a new position in shares of Birkenstock Holding plc (NYSE:BIRK) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 118,898 shares of the company’s stock, valued at approximately $6,737,000. Birkenstock comprises approximately 3.2% of Kessler Investment Group LLC’s investment portfolio, making the stock its 14th largest holding. Kessler Investment Group LLC owned about 0.06% of Birkenstock as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of BIRK. Quarry LP acquired a new stake in Birkenstock during the third quarter worth about $25,000. MetLife Investment Management LLC raised its stake in Birkenstock by 52.2% during the third quarter. MetLife Investment Management LLC now owns 688 shares of the company’s stock worth $34,000 after acquiring an additional 236 shares during the period. GAMMA Investing LLC raised its stake in Birkenstock by 33.7% during the third quarter. GAMMA Investing LLC now owns 893 shares of the company’s stock worth $44,000 after acquiring an additional 225 shares during the period. Amalgamated Bank increased its stake in shares of Birkenstock by 51.8% in the third quarter. Amalgamated Bank now owns 2,071 shares of the company’s stock valued at $102,000 after purchasing an additional 707 shares during the period. Finally, R Squared Ltd acquired a new stake in shares of Birkenstock in the fourth quarter valued at approximately $143,000. Institutional investors own 19.93% of the company’s stock.

Birkenstock Trading Down 3.1 %

Shares of NYSE:BIRK opened at $55.17 on Friday. The stock has a market capitalization of $10.36 billion, a price-to-earnings ratio of 51.09, a PEG ratio of 1.13 and a beta of 1.61. Birkenstock Holding plc has a 1-year low of $41.00 and a 1-year 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 company has a 50 day moving average price of $57.55 and a 200 day moving average price of $53.35.

Analysts Set New Price Targets

BIRK has been the topic of several analyst reports. Piper Sandler initiated coverage on shares of Birkenstock in a research note on Tuesday, December 10th. They issued an “overweight” rating and a $65.00 price target on the stock. Hsbc Global Res upgraded shares of Birkenstock to a “strong-buy” rating in a research note on Tuesday, December 3rd. BTIG Research raised their price target on shares of Birkenstock from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Robert W. Baird raised their price target on shares of Birkenstock from $65.00 to $72.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Finally, HSBC upgraded shares of Birkenstock from a “hold” rating to a “buy” rating and raised their price target for the company from $58.00 to $60.00 in a research note on Tuesday, December 3rd. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Birkenstock currently has a consensus rating of “Moderate Buy” and an average target price of $68.31.

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.