Magnetar Financial LLC Purchases Shares of 10,718 Birkenstock Holding plc (NYSE:BIRK)

Magnetar Financial LLC acquired a new stake in Birkenstock Holding plc (NYSE:BIRK - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 10,718 shares of the company's stock, valued at approximately $607,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BIRK. Quarry LP acquired a new stake in shares of Birkenstock in the third quarter valued at approximately $25,000. Signaturefd LLC grew its holdings in Birkenstock by 642.6% in the 4th quarter. Signaturefd LLC now owns 505 shares of the company's stock valued at $29,000 after buying an additional 437 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new stake in shares of Birkenstock in the 4th quarter worth $34,000. MetLife Investment Management LLC raised its holdings in shares of Birkenstock by 52.2% during the 3rd quarter. MetLife Investment Management LLC now owns 688 shares of the company's stock worth $34,000 after acquiring an additional 236 shares during the period. Finally, R Squared Ltd purchased a new stake in shares of Birkenstock in the fourth quarter valued at about $143,000. Hedge funds and other institutional investors own 19.93% of the company's stock.

Birkenstock Stock Down 0.6 %

NYSE:BIRK traded down $0.27 during midday trading on Wednesday, reaching $46.90. The company had a trading volume of 1,705,658 shares, compared to its average volume of 1,242,958. 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 $8.81 billion, a price-to-earnings ratio of 37.82, 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. The stock's fifty day simple moving average is $52.69 and its 200-day simple moving average is $51.59.

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Birkenstock (NYSE:BIRK - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $385.88 million during the quarter, compared to analysts' expectations of $355.80 million. On average, sell-side analysts anticipate that Birkenstock Holding plc will post 1.77 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on BIRK shares. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Birkenstock from $65.00 to $66.00 and gave the company a "buy" rating in a report on Thursday, December 19th. UBS Group increased their price objective on Birkenstock from $83.00 to $95.00 and gave the stock a "buy" rating in a research report on Thursday, December 19th. BMO Capital Markets lifted their target price on Birkenstock from $60.00 to $70.00 and gave the company an "outperform" rating in a research report on Thursday, December 19th. Piper Sandler started coverage on Birkenstock in a research note on Tuesday, December 10th. They issued an "overweight" rating and a $65.00 price target on the stock. Finally, Robert W. Baird boosted their price objective on shares of Birkenstock from $65.00 to $72.00 and gave the company an "outperform" rating in a report on Thursday, December 19th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $68.31.

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.