118,898 Shares in Birkenstock Holding plc (NYSE:BIRK) Acquired by Kessler Investment Group LLC

Kessler Investment Group LLC acquired a new position in Birkenstock Holding plc (NYSE:BIRK) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 118,898 shares of the company’s stock, valued at approximately $6,737,000. Birkenstock accounts for 3.2% of Kessler Investment Group LLC’s investment portfolio, making the stock its 14th largest position.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vontobel Holding Ltd. acquired a new stake in shares of Birkenstock during the 4th quarter valued at $461,000. True Vision MN LLC acquired a new stake in shares of Birkenstock during the 4th quarter valued at $502,000. Renaissance Capital LLC boosted its stake in shares of Birkenstock by 94.0% during the 4th quarter. Renaissance Capital LLC now owns 82,190 shares of the company’s stock valued at $4,657,000 after buying an additional 39,831 shares during the period. R Squared Ltd acquired a new stake in shares of Birkenstock during the 4th quarter valued at $143,000. Finally, Oak Thistle LLC acquired a new stake in shares of Birkenstock during the 4th quarter valued at $458,000. Institutional investors and hedge funds own 19.93% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. BTIG Research lifted their target price on shares of Birkenstock from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Hsbc Global Res raised shares of Birkenstock to a “strong-buy” rating in a research note on Tuesday, December 3rd. HSBC raised 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 research note on Tuesday, December 3rd. Telsey Advisory Group reissued an “outperform” rating and set a $70.00 price objective on shares of Birkenstock in a report on Thursday. Finally, Robert W. Baird increased their price objective on Birkenstock from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Two investment 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’s stock. Based on data from MarketBeat.com, Birkenstock has a consensus rating of “Moderate Buy” and a consensus price target of $68.31.

Birkenstock Stock Performance

BIRK opened at $55.17 on Friday. Birkenstock Holding plc has a 12-month low of $41.00 and a 12-month high of $64.78. The firm has a market capitalization of $10.36 billion, a P/E ratio of 51.09, a price-to-earnings-growth ratio of 1.13 and a beta of 1.61. The stock’s 50 day moving average price is $57.55 and its two-hundred day moving average price is $53.35. The company has a quick ratio of 1.20, a current ratio of 2.60 and a debt-to-equity ratio of 0.50.

Birkenstock Company 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.