Cinctive Capital Management LP Invests $3.89 Million in Birkenstock Holding plc (NYSE:BIRK)

Cinctive Capital Management LP purchased a new position in shares of Birkenstock Holding plc (NYSE:BIRK - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 68,617 shares of the company's stock, valued at approximately $3,888,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quarry LP bought a new position in shares of Birkenstock during the 3rd quarter worth approximately $25,000. Signaturefd LLC increased its position in shares of Birkenstock by 642.6% during the fourth quarter. Signaturefd LLC now owns 505 shares of the company's stock valued at $29,000 after acquiring an additional 437 shares during the last quarter. MetLife Investment Management LLC lifted its holdings in Birkenstock by 52.2% during the third 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. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Birkenstock in the fourth quarter worth $34,000. Finally, Headlands Technologies LLC bought a new position in Birkenstock in the 4th quarter valued at $76,000. 19.93% of the stock is currently owned by hedge funds and other institutional investors.

Birkenstock Stock Performance

Shares of NYSE BIRK traded down $0.32 during mid-day trading on Tuesday, hitting $43.66. The company had a trading volume of 589,513 shares, compared to its average volume of 1,303,846. 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 Holding plc has a 1 year low of $41.00 and a 1 year high of $64.78. The company has a market capitalization of $8.20 billion, a price-to-earnings ratio of 35.50, a P/E/G ratio of 1.02 and a beta of 1.71. The stock's 50-day moving average price is $50.33 and its 200-day moving average price is $51.55.

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Birkenstock (NYSE:BIRK - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported $0.19 earnings per share 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 business had revenue of $385.88 million during the quarter, compared to analyst estimates of $355.80 million. On average, sell-side analysts forecast that Birkenstock Holding plc will post 1.77 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BIRK. UBS Group boosted their price target on shares of Birkenstock from $83.00 to $95.00 and gave the stock a "buy" rating in a report on Thursday, December 19th. Telsey Advisory Group reiterated an "outperform" rating and issued a $70.00 target price on shares of Birkenstock in a research note on Thursday, February 20th. BMO Capital Markets raised their price target on shares of Birkenstock from $60.00 to $70.00 and gave the stock an "outperform" rating in a research note on Thursday, December 19th. BTIG Research upped their price objective on Birkenstock from $60.00 to $70.00 and gave the company a "buy" rating in a research note on Wednesday, December 18th. Finally, Piper Sandler began coverage on Birkenstock in a research report on Tuesday, December 10th. They issued an "overweight" rating and a $65.00 target price for the company. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price 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.