Lecap Asset Management Ltd. Takes Position in Birkenstock Holding plc (NYSE:BIRK)

Lecap Asset Management Ltd. bought a new position in shares of Birkenstock Holding plc (NYSE:BIRK - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 54,252 shares of the company's stock, valued at approximately $2,674,000.

Other institutional investors have also recently made changes to their positions in the company. Millennium Management LLC purchased a new position in Birkenstock during the 2nd quarter valued at approximately $61,972,000. Ghisallo Capital Management LLC grew its holdings in Birkenstock by 800.0% during the 2nd quarter. Ghisallo Capital Management LLC now owns 900,000 shares of the company's stock valued at $48,969,000 after buying an additional 800,000 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in 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 valued at $163,230,000 after buying an additional 700,000 shares in the last quarter. D. E. Shaw & Co. Inc. purchased a new position in Birkenstock during the 2nd quarter valued at approximately $25,098,000. Finally, Interval Partners LP grew its holdings in Birkenstock by 240.6% during the 2nd quarter. Interval Partners LP now owns 624,871 shares of the company's stock valued at $33,999,000 after buying an additional 441,419 shares in the last quarter. Hedge funds and other institutional investors own 19.93% of the company's stock.

Birkenstock Stock Down 0.7 %

BIRK stock traded down $0.37 on Wednesday, hitting $50.32. 534,281 shares of the company's stock were exchanged, compared to its average volume of 1,014,346. Birkenstock Holding plc has a 12-month low of $37.60 and a 12-month high of $64.78. The firm has a 50 day moving average price of $51.59 and a two-hundred day moving average price of $52.04. 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 stock has a market cap of $9.45 billion and a P/E ratio of 82.49.

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

Analyst Upgrades and Downgrades

BIRK has been the subject of several research analyst reports. Stifel Nicolaus raised their price target on Birkenstock from $63.00 to $70.00 and gave the company a "buy" rating in a report on Friday, August 23rd. Telsey Advisory Group reiterated an "outperform" rating and issued a $70.00 target price on shares of Birkenstock in a report on Tuesday, September 24th. BTIG Research set a $60.00 target price on Birkenstock and gave the stock a "buy" rating in a report on Friday, October 18th. BMO Capital Markets reissued an "outperform" rating and set a $60.00 price target on shares of Birkenstock in a research note on Friday, August 30th. Finally, Evercore ISI reissued an "outperform" rating and set a $77.00 price target (up from $63.00) on shares of Birkenstock in a research note on Monday, August 26th. Four analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $62.11.

Birkenstock 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.