Victory Capital Management Inc. increased its position in Birkenstock Holding plc (NYSE:BIRK - Free Report) by 12.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 388,360 shares of the company's stock after purchasing an additional 43,657 shares during the period. Victory Capital Management Inc. owned approximately 0.21% of Birkenstock worth $19,142,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Millennium Management LLC bought a new position in Birkenstock in the 2nd quarter valued at approximately $61,972,000. Ghisallo Capital Management LLC increased its holdings in Birkenstock by 800.0% in the 2nd quarter. Ghisallo Capital Management LLC now owns 900,000 shares of the company's stock worth $48,969,000 after buying an additional 800,000 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its position in Birkenstock by 30.4% in 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 buying an additional 700,000 shares during the last quarter. D. E. Shaw & Co. Inc. bought a new position in Birkenstock during the 2nd quarter valued at about $25,098,000. Finally, Interval Partners LP boosted its holdings in shares of 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 acquiring an additional 441,419 shares during the last quarter. 19.93% of the stock is currently owned by institutional investors.
Birkenstock Trading Up 0.3 %
NYSE BIRK traded up $0.15 on Tuesday, hitting $46.61. 781,587 shares of the stock were exchanged, compared to its average volume of 1,015,653. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.49 and a current ratio of 2.91. Birkenstock Holding plc has a 52-week low of $41.00 and a 52-week high of $64.78. The firm has a market capitalization of $8.75 billion and a P/E ratio of 76.16. The stock has a fifty day moving average price of $48.03 and a two-hundred day moving average price of $52.44.
Birkenstock (NYSE:BIRK - Get Free Report) last released 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). Birkenstock had a return on equity of 5.79% and a net margin of 6.26%. The business had revenue of $564.76 million during the quarter, compared to analysts' expectations of $628.70 million. Research analysts forecast that Birkenstock Holding plc will post 1.37 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of brokerages have weighed in on BIRK. Stifel Nicolaus boosted their target price on shares of Birkenstock from $63.00 to $70.00 and gave the company a "buy" rating in a research note on Friday, August 23rd. Evercore ISI reaffirmed an "outperform" rating and set a $77.00 price target (up previously from $63.00) on shares of Birkenstock in a research report on Monday, August 26th. 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. Telsey Advisory Group reiterated an "outperform" rating and issued a $70.00 price target on shares of Birkenstock in a research report on Tuesday, September 24th. Finally, Bank of America upgraded shares of Birkenstock from a "neutral" rating to a "buy" rating and lifted their price target for the stock from $62.00 to $65.00 in a research note on Thursday, July 25th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Birkenstock currently has a consensus rating of "Moderate Buy" and a consensus target price of $66.40.
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About Birkenstock
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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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