AGF Management Ltd. Buys Shares of 655,727 Birkenstock Holding plc (NYSE:BIRK)

AGF Management Ltd. acquired a new position in shares of Birkenstock Holding plc (NYSE:BIRK) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 655,727 shares of the company’s stock, valued at approximately $37,153,000. AGF Management Ltd. owned 0.35% of Birkenstock as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

Several brokerages have commented on BIRK. Robert W. Baird raised their price objective on Birkenstock from $65.00 to $72.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft lifted their price objective on Birkenstock from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Telsey Advisory Group reissued an “outperform” rating and issued a $70.00 target price on shares of Birkenstock in a research report on Thursday, February 20th. Hsbc Global Res raised Birkenstock to a “strong-buy” rating in a research report on Tuesday, December 3rd. Finally, BMO Capital Markets boosted their price target on Birkenstock from $60.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Two analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $68.31.

Birkenstock Stock Performance

Shares of BIRK stock opened at $44.94 on Wednesday. The company has a quick ratio of 1.08, a current ratio of 2.84 and a debt-to-equity ratio of 0.48. The business has a 50 day moving average of $55.03 and a two-hundred day moving average of $52.11. The company has a market cap of $8.44 billion, a P/E ratio of 36.24, a PEG ratio of 1.02 and a beta of 1.90. Birkenstock Holding plc has a 52 week low of $41.00 and a 52 week high of $64.78.

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

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.