Birkenstock Holding plc (NYSE:BIRK) is Wealth High Governance Capital Ltda’s 2nd Largest Position

Wealth High Governance Capital Ltda lifted its position in shares of Birkenstock Holding plc (NYSE:BIRK) by 65.8% during the fourth quarter, HoldingsChannel reports. The firm owned 248,741 shares of the company’s stock after purchasing an additional 98,741 shares during the quarter. Birkenstock comprises about 5.1% of Wealth High Governance Capital Ltda’s holdings, making the stock its 2nd largest holding. Wealth High Governance Capital Ltda’s holdings in Birkenstock were worth $14,094,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in BIRK. HighTower Advisors LLC grew its holdings in Birkenstock by 370.8% during the 3rd quarter. HighTower Advisors LLC now owns 26,165 shares of the company’s stock worth $1,289,000 after acquiring an additional 20,607 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Birkenstock in the third quarter valued at about $1,323,000. Renaissance Capital LLC lifted its holdings in Birkenstock by 94.0% during the 4th quarter. Renaissance Capital LLC now owns 82,190 shares of the company’s stock worth $4,657,000 after buying an additional 39,831 shares during the last quarter. FMR LLC grew its position in shares of Birkenstock by 61.4% in the 3rd quarter. FMR LLC now owns 2,128,689 shares of the company’s stock worth $104,923,000 after acquiring an additional 809,784 shares in the last quarter. Finally, Handelsbanken Fonder AB bought a new stake in shares of Birkenstock in the 4th quarter valued at approximately $391,000. 19.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on BIRK shares. BMO Capital Markets lifted their price objective on shares of Birkenstock from $60.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Hsbc Global Res upgraded shares of Birkenstock to a “strong-buy” rating in a research note on Tuesday, December 3rd. Telsey Advisory Group restated an “outperform” rating and issued a $70.00 target price on shares of Birkenstock in a research note on Thursday, February 20th. Robert W. Baird upped their target price on shares of Birkenstock from $65.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on Birkenstock from $65.00 to $66.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Two investment 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 has an average rating of “Moderate Buy” and a consensus target price of $68.31.

Birkenstock Price Performance

NYSE BIRK opened at $44.94 on Wednesday. The business’s fifty day moving average is $55.03 and its two-hundred day moving average is $52.11. The stock has a market capitalization of $8.44 billion, a P/E ratio of 36.24, a P/E/G ratio of 1.02 and a beta of 1.90. 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 0.48, a quick ratio of 1.08 and a current ratio of 2.84.

Birkenstock (NYSE:BIRK) last posted its quarterly earnings data 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 net margin of 11.73% and a return on equity of 9.52%. The firm had revenue of $385.88 million during the quarter, compared to analyst estimates of $355.80 million. On average, research analysts forecast that Birkenstock Holding plc will post 1.77 earnings per share for the current fiscal 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.