Harbor Capital Advisors Inc. Makes New Investment in Birkenstock Holding plc (NYSE:BIRK)

Harbor Capital Advisors Inc. acquired a new position in shares of Birkenstock Holding plc (NYSE:BIRK) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 93,589 shares of the company’s stock, valued at approximately $4,291,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Rhumbline Advisers raised its holdings in Birkenstock by 5.9% during the 1st quarter. Rhumbline Advisers now owns 31,957 shares of the company’s stock worth $1,465,000 after buying an additional 1,776 shares during the period. GAMMA Investing LLC raised its holdings in Birkenstock by 3,914.1% during the 1st quarter. GAMMA Investing LLC now owns 30,949 shares of the company’s stock worth $1,419,000 after buying an additional 30,178 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Birkenstock by 170.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 72,538 shares of the company’s stock worth $4,110,000 after buying an additional 45,700 shares during the period. Woodline Partners LP raised its holdings in Birkenstock by 129.7% during the 4th quarter. Woodline Partners LP now owns 191,219 shares of the company’s stock worth $10,834,000 after buying an additional 107,981 shares during the period. Finally, Tairen Capital Ltd acquired a new stake in Birkenstock during the 4th quarter worth about $1,133,000. Institutional investors and hedge funds own 19.93% of the company’s stock.

Birkenstock Stock Down 0.6%

Shares of Birkenstock stock opened at $55.79 on Wednesday. The firm has a market cap of $10.48 billion, a price-to-earnings ratio of 44.99, a P/E/G ratio of 1.02 and a beta of 1.48. 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 Holding plc has a 52-week low of $40.56 and a 52-week high of $64.78. The stock has a 50-day simple moving average of $51.42 and a 200-day simple moving average of $52.69.

Birkenstock (NYSE:BIRK) last issued its quarterly earnings data on Thursday, May 15th. The company reported $0.58 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. Birkenstock had a return on equity of 9.52% and a net margin of 11.73%. The business had revenue of $623.54 million for the quarter, compared to the consensus estimate of $567.84 million. During the same period last year, the business earned $0.38 EPS. The firm’s revenue was up 19.3% compared to the same quarter last year. On average, equities research analysts expect that Birkenstock Holding plc will post 1.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Bank of America raised their price objective on Birkenstock from $70.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday, May 16th. BMO Capital Markets raised their price objective on Birkenstock from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday, May 16th. Stifel Nicolaus raised their price objective on Birkenstock from $62.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, May 16th. Evercore ISI raised their price objective on Birkenstock from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Monday, May 19th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $70.00 price objective on shares of Birkenstock in a research report on Thursday, May 15th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Birkenstock has a consensus rating of “Moderate Buy” and a consensus target price of $67.40.

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.