Birkenstock Holding plc (NYSE:BIRK) Shares Purchased by Seven Grand Managers LLC

Seven Grand Managers LLC grew its position in Birkenstock Holding plc (NYSE:BIRK - Free Report) by 33.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 100,000 shares of the company's stock after purchasing an additional 25,000 shares during the quarter. Birkenstock comprises approximately 1.1% of Seven Grand Managers LLC's investment portfolio, making the stock its 29th biggest holding. Seven Grand Managers LLC owned about 0.05% of Birkenstock worth $4,929,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Birkenstock by 30.4% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,000,000 shares of the company's stock valued at $163,230,000 after acquiring an additional 700,000 shares in the last quarter. Bamco Inc. NY increased its stake in Birkenstock by 1.4% during the 1st quarter. Bamco Inc. NY now owns 2,974,458 shares of the company's stock valued at $140,543,000 after purchasing an additional 40,457 shares in the last quarter. Capital World Investors raised its holdings in shares of Birkenstock by 1.0% in the first 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 stake in shares of Birkenstock during the second quarter worth $61,972,000. Finally, Federated Hermes Inc. grew its holdings in shares of Birkenstock by 42.0% during the second 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. 19.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on BIRK shares. Stifel Nicolaus raised their target price on Birkenstock from $63.00 to $70.00 and gave the stock a "buy" rating in a research note on Friday, August 23rd. Morgan Stanley lifted their target price on Birkenstock from $44.00 to $58.00 and gave the stock an "equal weight" rating in a report on Tuesday, June 25th. BTIG Research began coverage on Birkenstock in a research report on Thursday, October 10th. They issued a "buy" rating and a $60.00 target price on the stock. BNP Paribas began coverage on shares of Birkenstock in a research report on Thursday, June 20th. They set an "outperform" rating and a $68.00 price target for the company. Finally, Evercore ISI reaffirmed an "outperform" rating and issued a $77.00 price objective (up from $63.00) on shares of Birkenstock in a report on Monday, August 26th. Four equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Birkenstock currently has a consensus rating of "Moderate Buy" and an average price target of $62.11.

Birkenstock Price Performance

BIRK stock traded up $0.12 during mid-day trading on Thursday, reaching $50.48. 396,224 shares of the company's stock were exchanged, compared to its average volume of 1,023,537. The company has a market cap of $9.48 billion and a price-to-earnings ratio of 82.75. Birkenstock Holding plc has a 12-month low of $36.50 and a 12-month high of $64.78. The stock's 50 day moving average is $52.06 and its 200 day moving average is $51.79. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.91 and a quick ratio of 1.49.

Birkenstock (NYSE:BIRK - Get Free Report) last announced its 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 business had revenue of $564.76 million for 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%. On average, research analysts expect that Birkenstock Holding plc will post 1.39 EPS for the current year.

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.