Greenland Capital Management LP purchased a new position in Birkenstock Holding plc (NYSE:BIRK - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 15,521 shares of the company's stock, valued at approximately $879,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. raised its holdings in Birkenstock by 59.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,627 shares of the company's stock worth $327,000 after acquiring an additional 2,473 shares during the period. MetLife Investment Management LLC lifted its position 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 purchasing an additional 236 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in Birkenstock during the 3rd quarter valued at approximately $1,323,000. HighTower Advisors LLC grew its holdings in Birkenstock by 370.8% in the 3rd quarter. HighTower Advisors LLC now owns 26,165 shares of the company's stock valued at $1,289,000 after buying an additional 20,607 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new position in Birkenstock in the 3rd quarter worth approximately $694,000. Institutional investors and hedge funds own 19.93% of the company's stock.
Birkenstock Price Performance
BIRK traded up $0.90 during trading on Monday, hitting $48.91. The company's stock had a trading volume of 586,194 shares, compared to its average volume of 1,749,700. Birkenstock Holding plc has a 12 month low of $40.56 and a 12 month high of $64.78. The firm's 50 day moving average price is $48.71 and its two-hundred day moving average price is $51.39. The company has a quick ratio of 1.08, a current ratio of 2.84 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $9.19 billion, a price-to-earnings ratio of 39.44, a price-to-earnings-growth ratio of 1.02 and a beta of 1.71.
Birkenstock (NYSE:BIRK - Get Free Report) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.16 by $0.03. Birkenstock had a net margin of 11.73% and a return on equity of 9.52%. The business had revenue of $385.88 million for the quarter, compared to analysts' expectations of $355.80 million. Sell-side analysts forecast that Birkenstock Holding plc will post 1.77 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on BIRK. Telsey Advisory Group reissued an "outperform" rating and issued a $70.00 price objective on shares of Birkenstock in a research report on Thursday, February 20th. BMO Capital Markets increased their target price on shares of Birkenstock from $60.00 to $70.00 and gave the company an "outperform" rating in a research note on Thursday, December 19th. Deutsche Bank Aktiengesellschaft upped their price target on Birkenstock from $65.00 to $66.00 and gave the company a "buy" rating in a report on Thursday, December 19th. BTIG Research boosted 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. Finally, Robert W. Baird upped their target price on Birkenstock from $65.00 to $72.00 and gave the company an "outperform" rating in a research note on Thursday, December 19th. Two research 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. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $67.50.
Check Out Our Latest Stock Report on Birkenstock
Birkenstock Company Profile
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Free Report)
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.
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