Ethic Inc. Invests $315,000 in Birkenstock Holding plc (NYSE:BIRK)

Ethic Inc. bought a new stake in shares of Birkenstock Holding plc (NYSE:BIRK) during the fourth quarter, Holdings Channel.com reports. The fund bought 5,568 shares of the company’s stock, valued at approximately $315,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Oak Thistle LLC acquired a new position in Birkenstock during the fourth quarter worth $458,000. R Squared Ltd acquired a new stake in shares of Birkenstock in the fourth quarter valued at about $143,000. Renaissance Capital LLC increased its stake in shares of Birkenstock by 94.0% during the fourth quarter. Renaissance Capital LLC now owns 82,190 shares of the company’s stock worth $4,657,000 after purchasing an additional 39,831 shares in the last quarter. True Vision MN LLC acquired a new position in shares of Birkenstock during the 4th quarter worth about $502,000. Finally, Vontobel Holding Ltd. acquired a new position in shares of Birkenstock during the 4th quarter worth about $461,000. Hedge funds and other institutional investors own 19.93% of the company’s stock.

Birkenstock Price Performance

Shares of BIRK stock opened at $56.70 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.84 and a quick ratio of 1.08. The company has a market capitalization of $10.65 billion, a PE ratio of 45.73, a price-to-earnings-growth ratio of 1.02 and a beta of 1.56. The firm’s 50-day moving average is $48.32 and its two-hundred day moving average is $51.64. Birkenstock Holding plc has a 12 month low of $40.56 and a 12 month high of $64.78.

Birkenstock (NYSE:BIRK) last released its quarterly earnings results on Thursday, May 15th. The company reported $0.58 EPS for the quarter, beating the consensus estimate of $0.57 by $0.01. Birkenstock had a net margin of 11.73% and a return on equity of 9.52%. The firm had revenue of $623.54 million for the quarter, compared to analyst estimates of $567.84 million. Analysts predict that Birkenstock Holding plc will post 1.77 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on BIRK shares. Piper Sandler lowered their price objective on Birkenstock from $70.00 to $60.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. UBS Group lifted their price target on Birkenstock from $72.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday. Stifel Nicolaus boosted their price target on Birkenstock from $62.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday. BMO Capital Markets raised their price objective on Birkenstock from $70.00 to $75.00 and gave the company an “outperform” rating in a report on Friday. Finally, Robert W. Baird lifted their target price on shares of Birkenstock from $65.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Birkenstock has an average rating of “Moderate Buy” and an average target price of $67.63.

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.