Public Employees Retirement System of Ohio Makes New $1.54 Million Investment in Birkenstock Holding plc (NYSE:BIRK)

Public Employees Retirement System of Ohio acquired a new position in Birkenstock Holding plc (NYSE:BIRK) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 31,153 shares of the company’s stock, valued at approximately $1,536,000.

A number of other institutional investors and hedge funds have also made changes to their positions in BIRK. Bank of New York Mellon Corp grew its stake in shares of Birkenstock by 19.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 62,776 shares of the company’s stock worth $3,416,000 after buying an additional 10,157 shares in the last quarter. Principal Financial Group Inc. purchased a new position in shares of Birkenstock in the 2nd quarter worth $4,323,000. TD Asset Management Inc lifted its holdings in shares of Birkenstock by 22.6% in the 2nd quarter. TD Asset Management Inc now owns 244,372 shares of the company’s stock worth $13,296,000 after acquiring an additional 45,000 shares during the last quarter. Victory Capital Management Inc. bought a new stake in shares of Birkenstock in the 2nd quarter worth about $18,755,000. Finally, Acadian Asset Management LLC bought a new stake in shares of Birkenstock in the 2nd quarter worth about $136,000. 19.93% of the stock is owned by hedge funds and other institutional investors.

Birkenstock Trading Up 2.0 %

NYSE BIRK opened at $57.16 on Thursday. The company has a quick ratio of 1.49, a current ratio of 2.91 and a debt-to-equity ratio of 0.55. The firm has a market cap of $10.74 billion, a PE ratio of 93.70, a price-to-earnings-growth ratio of 1.19 and a beta of 2.22. The company has a 50 day moving average price of $49.81 and a 200 day moving average price of $53.05. Birkenstock Holding plc has a 52 week low of $41.00 and a 52 week high of $64.78.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BIRK. Piper Sandler began coverage on shares of Birkenstock in a report on Tuesday, December 10th. They issued an “overweight” rating and a $65.00 target price for the company. BTIG Research raised their target price on shares of Birkenstock from $60.00 to $70.00 and gave the stock a “buy” rating in a report on Wednesday. HSBC upgraded shares of Birkenstock from a “hold” rating to a “buy” rating and lifted their price objective for the company from $58.00 to $60.00 in a report on Tuesday, December 3rd. Telsey Advisory Group reiterated an “outperform” rating and set a $70.00 price objective on shares of Birkenstock in a report on Friday, December 13th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $60.00 price objective on shares of Birkenstock in a report on Friday, August 30th. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $66.44.

Birkenstock Profile

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.