AGF Management Ltd. Takes Position in Birkenstock Holding plc (NYSE:BIRK)

AGF Management Ltd. bought a new position in Birkenstock Holding plc (NYSE:BIRK) during the 4th quarter, HoldingsChannel reports. The firm bought 655,727 shares of the company’s stock, valued at approximately $37,153,000.

Several other hedge funds also recently bought and sold shares of BIRK. Quarry LP bought a new position in Birkenstock in the third quarter valued at $25,000. MetLife Investment Management LLC boosted its holdings in shares of Birkenstock by 52.2% during the 3rd quarter. MetLife Investment Management LLC now owns 688 shares of the company’s stock worth $34,000 after buying an additional 236 shares during the period. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in Birkenstock in the 4th quarter worth about $34,000. Amalgamated Bank raised its stake in Birkenstock by 51.8% in the 3rd quarter. Amalgamated Bank now owns 2,071 shares of the company’s stock worth $102,000 after purchasing an additional 707 shares in the last quarter. Finally, R Squared Ltd acquired a new position in shares of Birkenstock in the 4th quarter valued at approximately $143,000. 19.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BIRK has been the topic of several research reports. Hsbc Global Res raised shares of Birkenstock to a “strong-buy” rating in a report on Tuesday, December 3rd. Robert W. Baird upped their price objective 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. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Birkenstock from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Piper Sandler initiated coverage on shares of Birkenstock in a research report on Tuesday, December 10th. They set an “overweight” rating and a $65.00 target price on the stock. Finally, HSBC upgraded shares of Birkenstock from a “hold” rating to a “buy” rating and upped their price objective for the stock from $58.00 to $60.00 in a report on Tuesday, December 3rd. Two research 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 MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $68.31.

Birkenstock Stock Up 3.3 %

NYSE:BIRK opened at $44.94 on Wednesday. The stock has a fifty day simple moving average of $55.03 and a 200-day simple moving average of $52.11. Birkenstock Holding plc has a twelve month low of $41.00 and a twelve month high of $64.78. The company has a current ratio of 2.84, a quick ratio of 1.08 and a debt-to-equity ratio of 0.48. The company has a market cap of $8.44 billion, a price-to-earnings ratio of 36.24, a price-to-earnings-growth ratio of 1.02 and a beta of 1.90.

Birkenstock (NYSE:BIRK) last released its earnings results on Thursday, February 20th. The company reported $0.19 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.03. Birkenstock had a return on equity of 9.52% and a net margin of 11.73%. The firm had revenue of $385.88 million during the quarter, compared to the consensus estimate of $355.80 million. Analysts anticipate that Birkenstock Holding plc will post 1.77 EPS for the current year.

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.