Quantbot Technologies LP Invests $4.54 Million in Birkenstock Holding plc (NYSE:BIRK)

Quantbot Technologies LP bought a new stake in Birkenstock Holding plc (NYSE:BIRK) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 83,428 shares of the company’s stock, valued at approximately $4,539,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Element Capital Management LLC acquired a new position in Birkenstock during the 2nd quarter worth approximately $6,325,000. Federated Hermes Inc. grew its stake in shares of Birkenstock by 42.0% during the second quarter. Federated Hermes Inc. now owns 1,071,235 shares of the company’s stock worth $58,286,000 after purchasing an additional 316,935 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Birkenstock during the second quarter worth $136,000. Victory Capital Management Inc. acquired a new stake in Birkenstock in the second quarter valued at $18,755,000. Finally, TD Asset Management Inc lifted its holdings in Birkenstock by 22.6% during the 2nd quarter. TD Asset Management Inc now owns 244,372 shares of the company’s stock worth $13,296,000 after buying an additional 45,000 shares during the last quarter. Hedge funds and other institutional investors own 19.93% of the company’s stock.

Birkenstock Trading Up 4.3 %

Shares of BIRK stock opened at $48.24 on Tuesday. Birkenstock Holding plc has a twelve month low of $35.83 and a twelve month high of $64.78. The company has a current ratio of 2.91, a quick ratio of 1.49 and a debt-to-equity ratio of 0.55. The business’s 50 day moving average is $55.23 and its two-hundred day moving average is $51.55. The company has a market capitalization of $9.06 billion and a P/E ratio of 55.27.

Birkenstock (NYSE:BIRK) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.49 EPS 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 firm had revenue of $564.76 million for the quarter, compared to analysts’ expectations of $628.70 million. Equities analysts forecast that Birkenstock Holding plc will post 1.37 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BIRK. Bank of America upgraded Birkenstock from a “neutral” rating to a “buy” rating and increased their price objective for the company from $62.00 to $65.00 in a report on Thursday, July 25th. Robert W. Baird raised their price objective on shares of Birkenstock from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, May 31st. Evercore ISI restated an “outperform” rating and issued a $77.00 target price (up previously from $63.00) on shares of Birkenstock in a report on Monday, August 26th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $60.00 target price on shares of Birkenstock in a research report on Friday, August 30th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Birkenstock from $56.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, June 3rd. Four analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Birkenstock presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.23.

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.