Principal Financial Group Inc. Makes New $4.32 Million Investment in Birkenstock Holding plc (NYSE:BIRK)

Principal Financial Group Inc. bought a new position in Birkenstock Holding plc (NYSE:BIRK) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 79,452 shares of the company’s stock, valued at approximately $4,323,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC raised its stake in Birkenstock by 377.1% during the 2nd quarter. GAMMA Investing LLC now owns 668 shares of the company’s stock valued at $36,000 after purchasing an additional 528 shares during the last quarter. Banque Cantonale Vaudoise acquired a new position in Birkenstock during the 1st quarter valued at about $40,000. CWM LLC raised its position in shares of Birkenstock by 358.2% in the 1st quarter. CWM LLC now owns 2,181 shares of the company’s stock valued at $103,000 after acquiring an additional 1,705 shares during the period. Connable Office Inc. acquired a new stake in shares of Birkenstock in the 4th quarter valued at approximately $216,000. Finally, Amalgamated Bank acquired a new stake in shares of Birkenstock in the 4th quarter valued at approximately $233,000. 19.93% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on BIRK shares. Evercore ISI reaffirmed an “outperform” rating and set a $77.00 price target (up from $63.00) on shares of Birkenstock in a research note on Monday, August 26th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $70.00 price target on shares of Birkenstock in a research note on Thursday, August 29th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $60.00 price target on shares of Birkenstock in a research note on Friday, August 30th. BNP Paribas assumed coverage on Birkenstock in a research report on Thursday, June 20th. They issued an “outperform” rating and a $68.00 target price on the stock. Finally, Citigroup assumed coverage on Birkenstock in a report on Monday, July 1st. They set a “buy” rating and a $65.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, Birkenstock currently has an average rating of “Moderate Buy” and a consensus target price of $62.23.

Birkenstock Price Performance

Shares of BIRK opened at $43.89 on Wednesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.49 and a current ratio of 2.91. Birkenstock Holding plc has a 52-week low of $35.83 and a 52-week high of $64.78. The business’s 50 day moving average price is $56.05 and its two-hundred day moving average price is $51.67. The firm has a market cap of $8.24 billion and a PE ratio of 54.06.

Birkenstock (NYSE:BIRK) last released its quarterly earnings results on Thursday, August 29th. The company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.07). The company had revenue of $564.76 million during the quarter, compared to analysts’ expectations of $628.70 million. Birkenstock had a net margin of 6.26% and a return on equity of 5.79%. On average, equities analysts anticipate that Birkenstock Holding plc will post 1.37 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.