Dynamic Technology Lab Private Ltd Acquires New Shares in Birkenstock Holding plc (NYSE:BIRK)

Dynamic Technology Lab Private Ltd bought a new position in shares of Birkenstock Holding plc (NYSE:BIRK) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 21,265 shares of the company’s stock, valued at approximately $1,048,000.

A number of other large investors have also recently made changes to their positions in BIRK. Healthcare of Ontario Pension Plan Trust Fund lifted 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 worth $163,230,000 after purchasing an additional 700,000 shares in the last quarter. Millennium Management LLC purchased a new position in Birkenstock during the second quarter valued at approximately $61,972,000. Federated Hermes Inc. increased its holdings in Birkenstock by 42.0% during the 2nd quarter. Federated Hermes Inc. now owns 1,071,235 shares of the company’s stock worth $58,286,000 after acquiring an additional 316,935 shares during the period. Ghisallo Capital Management LLC lifted its stake 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 purchasing an additional 800,000 shares in the last quarter. Finally, Interval Partners LP lifted its stake in Birkenstock by 240.6% in the 2nd quarter. Interval Partners LP now owns 624,871 shares of the company’s stock worth $33,999,000 after purchasing an additional 441,419 shares in the last quarter. 19.93% of the stock is owned by institutional investors.

Birkenstock Price Performance

BIRK opened at $50.07 on Wednesday. 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 Holding plc has a 1 year low of $41.00 and a 1 year high of $64.78. The stock’s 50 day simple moving average is $48.21 and its 200 day simple moving average is $52.53. The firm has a market cap of $9.40 billion and a price-to-earnings ratio of 82.67.

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

Analyst Ratings Changes

Several research firms have weighed in on BIRK. 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 reaffirmed an “outperform” rating and issued a $70.00 target price on shares of Birkenstock in a research note on Tuesday, September 24th. BTIG Research set a $60.00 price target on shares of Birkenstock and gave the stock a “buy” rating in a research note on Friday, October 18th. BMO Capital Markets reissued an “outperform” rating and issued a $60.00 price target on shares of Birkenstock in a report on Friday, August 30th. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $77.00 price objective (up from $63.00) on shares of Birkenstock in a report on Monday, August 26th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Birkenstock has an average rating of “Moderate Buy” and a consensus target price of $66.40.

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.