Shikiar Asset Management Inc. Invests $883,000 in Birkenstock Holding plc (NYSE:BIRK)

Shikiar Asset Management Inc. purchased a new stake in Birkenstock Holding plc (NYSE:BIRK) in the 1st quarter, HoldingsChannel reports. The fund purchased 19,250 shares of the company’s stock, valued at approximately $883,000.

Other large investors have also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. grew its stake in shares of Birkenstock by 5.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,124,254 shares of the company’s stock valued at $233,681,000 after acquiring an additional 194,622 shares in the last quarter. Bamco Inc. NY grew its stake in shares of Birkenstock by 8.3% during the fourth quarter. Bamco Inc. NY now owns 3,359,351 shares of the company’s stock valued at $190,341,000 after acquiring an additional 256,844 shares in the last quarter. Norges Bank acquired a new stake in shares of Birkenstock during the fourth quarter valued at about $131,786,000. Capital World Investors grew its stake in shares of Birkenstock by 1.1% during the fourth quarter. Capital World Investors now owns 1,490,366 shares of the company’s stock valued at $84,444,000 after acquiring an additional 16,466 shares in the last quarter. Finally, Alliancebernstein L.P. grew its stake in shares of Birkenstock by 27.2% during the fourth quarter. Alliancebernstein L.P. now owns 1,342,214 shares of the company’s stock valued at $76,050,000 after acquiring an additional 286,618 shares in the last quarter. 19.93% of the stock is currently owned by institutional investors and hedge funds.

Birkenstock Trading Down 3.8%

Birkenstock stock opened at $51.51 on Monday. The company has a 50 day moving average price of $52.01 and a 200 day moving average price of $52.76. Birkenstock Holding plc has a 52 week low of $40.56 and a 52 week 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. The firm has a market capitalization of $9.68 billion, a price-to-earnings ratio of 41.54, a P/E/G ratio of 1.02 and a beta of 1.48.

Birkenstock (NYSE:BIRK) last issued its earnings results on Thursday, May 15th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.01. Birkenstock had a net margin of 11.73% and a return on equity of 9.52%. The company had revenue of $623.54 million during the quarter, compared to analyst estimates of $567.84 million. During the same quarter last year, the business posted $0.38 EPS. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. Research analysts forecast that Birkenstock Holding plc will post 1.77 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Evercore ISI raised their target price on Birkenstock from $65.00 to $70.00 and gave the company an “outperform” rating in a research note on Monday, May 19th. Robert W. Baird increased their price target on shares of Birkenstock from $65.00 to $70.00 and gave the stock an “outperform” rating in a research report on Friday, May 16th. Piper Sandler reduced their price target on shares of Birkenstock from $70.00 to $60.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. William Blair reaffirmed an “outperform” rating on shares of Birkenstock in a research report on Tuesday, June 3rd. Finally, BMO Capital Markets lifted their target price on Birkenstock from $70.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, May 16th. One investment analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Birkenstock currently has an average rating of “Buy” and an average target price of $68.07.

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.