PCJ Investment Counsel Ltd. Takes $708,000 Position in Birkenstock Holding plc (NYSE:BIRK)

PCJ Investment Counsel Ltd. purchased a new stake in shares of Birkenstock Holding plc (NYSE:BIRK) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 12,500 shares of the company’s stock, valued at approximately $708,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quarry LP bought a new position in shares of Birkenstock during the third quarter valued at $25,000. MetLife Investment Management LLC increased its position in Birkenstock by 52.2% during the third quarter. MetLife Investment Management LLC now owns 688 shares of the company’s stock valued at $34,000 after acquiring an additional 236 shares during the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Birkenstock during the fourth quarter valued at $34,000. Amalgamated Bank increased its position in 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 acquiring an additional 707 shares during the last quarter. Finally, R Squared Ltd purchased a new stake in Birkenstock during the fourth quarter valued at $143,000. 19.93% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently commented on the company. BTIG Research upped their price objective on Birkenstock from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Piper Sandler started coverage on Birkenstock in a research report on Tuesday, December 10th. They issued an “overweight” rating and a $65.00 price target for the company. BMO Capital Markets upped their price target on Birkenstock from $60.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Hsbc Global Res upgraded Birkenstock to a “strong-buy” rating in a research report on Tuesday, December 3rd. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $70.00 price target on shares of Birkenstock in a research report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $68.31.

Birkenstock Price Performance

Shares of Birkenstock stock opened at $45.60 on Friday. The stock has a 50 day moving average of $55.82 and a 200 day moving average of $52.63. Birkenstock Holding plc has a 12 month low of $41.00 and a 12 month high of $64.78. The firm has a market cap of $8.57 billion, a PE ratio of 36.78, a PEG ratio of 1.02 and a beta of 1.90. The company has a current ratio of 2.84, a quick ratio of 1.08 and a debt-to-equity ratio of 0.48.

Birkenstock (NYSE:BIRK) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.19 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $355.80 million. On average, research analysts expect that Birkenstock Holding plc will post 1.77 EPS for the current fiscal 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.