Principal Financial Group Inc. Acquires 463,191 Shares of Birkenstock Holding plc (NYSE:BIRK)

Principal Financial Group Inc. raised its holdings in Birkenstock Holding plc (NYSE:BIRK) by 581.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 542,798 shares of the company’s stock after buying an additional 463,191 shares during the period. Principal Financial Group Inc. owned about 0.29% of Birkenstock worth $30,755,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in BIRK. Quarry LP purchased a new position in Birkenstock during the third quarter worth about $25,000. MetLife Investment Management LLC boosted its holdings 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 purchasing an additional 236 shares during the last quarter. Amalgamated Bank boosted its holdings in Birkenstock by 51.8% during the third quarter. Amalgamated Bank now owns 2,071 shares of the company’s stock worth $102,000 after purchasing an additional 707 shares during the last quarter. R Squared Ltd purchased a new position in Birkenstock during the fourth quarter worth about $143,000. Finally, Point72 DIFC Ltd purchased a new position in Birkenstock during the third quarter worth about $299,000. 19.93% of the stock is owned by institutional investors.

Birkenstock Stock Performance

Birkenstock stock opened at $51.82 on Friday. The firm’s 50 day simple moving average is $57.54 and its 200 day simple moving average is $53.23. The company has a current ratio of 2.60, a quick ratio of 1.20 and a debt-to-equity ratio of 0.50. The firm has a market capitalization of $9.73 billion, a PE ratio of 41.79, a price-to-earnings-growth ratio of 1.07 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.

Birkenstock (NYSE:BIRK) last posted its earnings results on Thursday, February 20th. The company reported $0.19 earnings per share 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 9.61%. The business had revenue of $385.88 million for the quarter, compared to analyst estimates of $355.80 million. As a group, analysts expect that Birkenstock Holding plc will post 1.77 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on BIRK shares. Hsbc Global Res upgraded shares of Birkenstock to a “strong-buy” rating in a report on Tuesday, December 3rd. 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 note on Thursday, December 19th. Robert W. Baird boosted their target price 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. Telsey Advisory Group reiterated an “outperform” rating and issued a $70.00 target price on shares of Birkenstock in a research note on Thursday. Finally, 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 target price on the stock. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Birkenstock has an average 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.