Birkenstock Holding plc (NYSE:BIRK) Shares Sold by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund reduced its stake in shares of Birkenstock Holding plc (NYSE:BIRK) by 13.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,600,000 shares of the company’s stock after selling 400,000 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned about 1.38% of Birkenstock worth $128,154,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC grew its stake in Birkenstock by 33.7% during the 3rd quarter. GAMMA Investing LLC now owns 893 shares of the company’s stock worth $44,000 after buying an additional 225 shares during the last quarter. Amalgamated Bank grew its stake in Birkenstock by 51.8% during the 3rd quarter. Amalgamated Bank now owns 2,071 shares of the company’s stock worth $102,000 after buying an additional 707 shares during the last quarter. Venturi Wealth Management LLC grew its stake in Birkenstock by 58.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 6,670 shares of the company’s stock worth $329,000 after buying an additional 2,470 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in Birkenstock by 59.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,627 shares of the company’s stock worth $327,000 after buying an additional 2,473 shares during the last quarter. Finally, Acadian Asset Management LLC bought a new position in Birkenstock during the 2nd quarter worth $136,000. 19.93% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on BIRK. Telsey Advisory Group reissued an “outperform” rating and issued a $70.00 price target on shares of Birkenstock in a research note on Tuesday, September 24th. BTIG Research set a $60.00 price target on Birkenstock and gave the stock a “buy” rating in a research note on Friday, October 18th. Evercore ISI reissued an “outperform” rating and issued a $77.00 price target (up previously from $63.00) on shares of Birkenstock in a research note on Monday, August 26th. BMO Capital Markets reissued an “outperform” rating and issued a $60.00 price target on shares of Birkenstock in a research note on Friday, August 30th. Finally, Stifel Nicolaus increased their price target on Birkenstock from $63.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $66.40.

Birkenstock Trading Down 1.5 %

Shares of NYSE BIRK opened at $50.07 on Wednesday. Birkenstock Holding plc has a 12 month low of $41.00 and a 12 month high of $64.78. The company has a market cap of $9.40 billion and a price-to-earnings ratio of 82.08. 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 business has a fifty day simple moving average of $48.21 and a 200-day simple moving average of $52.53.

Birkenstock (NYSE:BIRK) last announced its earnings results on Thursday, August 29th. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.07). Birkenstock had a net margin of 6.26% and a return on equity of 5.79%. The company had revenue of $564.76 million for the quarter, compared to analysts’ expectations of $628.70 million. Sell-side analysts predict that Birkenstock Holding plc will post 1.37 EPS for the current 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.