Birkenstock Holding plc (NYSE:BIRK) Shares Purchased by Renaissance Capital LLC

Renaissance Capital LLC boosted its position in Birkenstock Holding plc (NYSE:BIRK - Free Report) by 86.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 42,359 shares of the company's stock after acquiring an additional 19,677 shares during the quarter. Birkenstock accounts for about 1.4% of Renaissance Capital LLC's holdings, making the stock its 18th biggest holding. Renaissance Capital LLC's holdings in Birkenstock were worth $2,088,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of Birkenstock by 30.4% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,000,000 shares of the company's stock worth $163,230,000 after acquiring an additional 700,000 shares in the last quarter. Bamco Inc. NY raised its holdings in Birkenstock by 1.4% during the first quarter. Bamco Inc. NY now owns 2,974,458 shares of the company's stock worth $140,543,000 after purchasing an additional 40,457 shares in the last quarter. Capital World Investors lifted its position in shares of Birkenstock by 1.0% during the 1st quarter. Capital World Investors now owns 1,469,369 shares of the company's stock worth $69,428,000 after buying an additional 14,089 shares during the last quarter. Millennium Management LLC acquired a new position in shares of Birkenstock in the 2nd quarter valued at $61,972,000. Finally, Federated Hermes Inc. grew its position in shares of Birkenstock by 42.0% in the 2nd quarter. Federated Hermes Inc. now owns 1,071,235 shares of the company's stock valued at $58,286,000 after buying an additional 316,935 shares during the last quarter. Institutional investors and hedge funds own 19.93% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BIRK. UBS Group raised shares of Birkenstock from a "neutral" rating to a "buy" rating and boosted their price target for the company from $52.00 to $85.00 in a research report on Monday, July 1st. Telsey Advisory Group reissued an "outperform" rating and issued a $70.00 target price on shares of Birkenstock in a report on Tuesday, September 24th. BNP Paribas initiated coverage on Birkenstock in a research note on Thursday, June 20th. They set an "outperform" rating and a $68.00 price target on the stock. Citigroup began coverage on Birkenstock in a research report on Monday, July 1st. They set a "buy" rating and a $65.00 price target on the stock. Finally, BMO Capital Markets reissued an "outperform" rating and issued a $60.00 price objective on shares of Birkenstock in a report on Friday, August 30th. Four investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $62.11.

Birkenstock Price Performance

NYSE:BIRK traded down $0.08 during trading hours on Wednesday, hitting $50.36. The company's stock had a trading volume of 1,047,952 shares, compared to its average volume of 1,026,674. Birkenstock Holding plc has a 52-week low of $36.50 and a 52-week high of $64.78. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.49 and a current ratio of 2.91. The business's 50-day moving average is $52.20 and its two-hundred day moving average is $51.80. The company has a market capitalization of $9.46 billion and a PE ratio of 82.56.

Birkenstock (NYSE:BIRK - Get Free Report) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.49 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.56 by ($0.07). The company had revenue of $564.76 million during the quarter, compared to analysts' expectations of $628.70 million. Birkenstock had a net margin of 6.26% and a return on equity of 5.79%. As a group, research analysts anticipate that Birkenstock Holding plc will post 1.39 EPS for the current fiscal year.

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.