Federated Hermes Inc. Acquires New Position in Birkenstock Holding plc (NYSE:BIRK)

Federated Hermes Inc. bought a new position in Birkenstock Holding plc (NYSE:BIRK) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 557,200 shares of the company’s stock, valued at approximately $27,152,000. Federated Hermes Inc. owned approximately 0.30% of Birkenstock at the end of the most recent reporting period.

Separately, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in Birkenstock in the fourth quarter worth about $1,886,000. 19.93% of the stock is currently owned by hedge funds and other institutional investors.

Birkenstock Stock Performance

Shares of NYSE BIRK opened at $42.67 on Friday. Birkenstock Holding plc has a 12 month low of $35.83 and a 12 month high of $55.00. The company’s 50 day simple moving average is $46.96. The company has a quick ratio of 1.28, a current ratio of 2.85 and a debt-to-equity ratio of 0.80.

Birkenstock (NYSE:BIRK) last announced its quarterly earnings results on Thursday, February 29th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.01). The business had revenue of $303.00 million during the quarter, compared to the consensus estimate of $289.09 million. The business’s quarterly revenue was up 21.9% compared to the same quarter last year. Equities research analysts forecast that Birkenstock Holding plc will post 1.28 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on BIRK. Robert W. Baird raised their target price on shares of Birkenstock from $54.00 to $58.00 and gave the company an “outperform” rating in a research report on Friday, March 1st. UBS Group boosted their price objective on shares of Birkenstock from $51.00 to $52.00 and gave the stock a “neutral” rating in a research note on Monday, March 4th. BMO Capital Markets upped their target price on Birkenstock from $50.00 to $54.00 and gave the stock an “outperform” rating in a report on Friday, March 1st. Piper Sandler lifted their price target on Birkenstock from $56.50 to $61.00 and gave the company an “overweight” rating in a report on Friday, March 1st. Finally, Telsey Advisory Group cut Birkenstock from an “outperform” rating to a “market perform” rating and set a $56.00 price objective for the company. in a research note on Thursday, February 29th. Eight research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $49.15.

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.