Lecap Asset Management Ltd. Invests $2.67 Million in Birkenstock Holding plc (NYSE:BIRK)

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

Other large investors have also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise acquired a new position in Birkenstock during the 1st quarter worth $40,000. BNP Paribas Financial Markets acquired a new stake in Birkenstock in the first quarter valued at $702,000. Capstone Investment Advisors LLC lifted its holdings in Birkenstock by 41.2% during the 1st quarter. Capstone Investment Advisors LLC now owns 109,392 shares of the company's stock worth $5,169,000 after buying an additional 31,917 shares during the last quarter. BW Gestao de Investimentos Ltda. boosted its position in shares of Birkenstock by 165.7% during the 1st quarter. BW Gestao de Investimentos Ltda. now owns 55,000 shares of the company's stock worth $2,599,000 after acquiring an additional 34,300 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Birkenstock in the 1st quarter valued at about $744,000. 19.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on BIRK. UBS Group raised Birkenstock from a "neutral" rating to a "buy" rating and upped their price target for the company from $52.00 to $85.00 in a report on Monday, July 1st. Bank of America raised shares of Birkenstock from a "neutral" rating to a "buy" rating and increased their target price for the company from $62.00 to $65.00 in a research report on Thursday, July 25th. Citigroup began coverage on shares of Birkenstock in a research report on Monday, July 1st. They issued a "buy" rating and a $65.00 price target for the company. Stifel Nicolaus raised their price objective on Birkenstock from $63.00 to $70.00 and gave the stock a "buy" rating in a report on Friday, August 23rd. Finally, BTIG Research set a $60.00 target price on Birkenstock and gave the company a "buy" rating in a report on Friday, October 18th. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, Birkenstock presently has a consensus rating of "Moderate Buy" and a consensus price target of $62.11.

Birkenstock Stock Down 0.7 %

Shares of NYSE:BIRK opened at $50.69 on Wednesday. Birkenstock Holding plc has a fifty-two week low of $37.60 and a fifty-two week high of $64.78. The company has a quick ratio of 1.49, a current ratio of 2.91 and a debt-to-equity ratio of 0.55. The firm's 50-day simple moving average is $51.59 and its 200-day simple moving average is $52.04. The company has a market cap of $9.52 billion and a price-to-earnings ratio of 83.10.

Birkenstock (NYSE:BIRK - Get Free Report) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.49 earnings per share for the quarter, missing analysts' consensus estimates of $0.56 by ($0.07). The business 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, equities research analysts predict that Birkenstock Holding plc will post 1.39 earnings per share for the current year.

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.

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