Birkenstock Holding plc (NYSE:BIRK) Shares Purchased by Verition Fund Management LLC

Verition Fund Management LLC boosted its holdings in shares of Birkenstock Holding plc (NYSE:BIRK) by 201.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 345,852 shares of the company’s stock after acquiring an additional 230,947 shares during the period. Verition Fund Management LLC owned about 0.18% of Birkenstock worth $17,047,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Birkenstock in the third quarter worth $1,323,000. MetLife Investment Management LLC raised its stake in Birkenstock by 52.2% in the 3rd quarter. MetLife Investment Management LLC now owns 688 shares of the company’s stock valued at $34,000 after purchasing an additional 236 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in Birkenstock by 299.3% in the 3rd quarter. BNP Paribas Financial Markets now owns 193,268 shares of the company’s stock valued at $9,526,000 after purchasing an additional 144,863 shares in the last quarter. Quantbot Technologies LP lifted its holdings in Birkenstock by 4.6% in the 3rd quarter. Quantbot Technologies LP now owns 87,288 shares of the company’s stock valued at $4,302,000 after purchasing an additional 3,860 shares in the last quarter. Finally, FMR LLC boosted its stake in shares of Birkenstock by 61.4% during the 3rd quarter. FMR LLC now owns 2,128,689 shares of the company’s stock worth $104,923,000 after purchasing an additional 809,784 shares during the last quarter. Hedge funds and other institutional investors own 19.93% of the company’s stock.

Wall Street Analyst Weigh In

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

Birkenstock Price Performance

Birkenstock stock opened at $51.63 on Friday. The firm has a fifty day moving average of $48.34 and a 200-day moving average of $52.53. Birkenstock Holding plc has a 52-week low of $41.00 and a 52-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 has a market capitalization of $9.70 billion and a P/E ratio of 82.80.

Birkenstock (NYSE:BIRK) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.56 by ($0.07). The company had revenue of $564.76 million during the quarter, compared to analyst estimates 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 EPS for the current year.

About Birkenstock

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.