Virtu Financial LLC Takes Position in Birkenstock Holding plc (NYSE:BIRK)

Virtu Financial LLC acquired a new position in Birkenstock Holding plc (NYSE:BIRK) in the 2nd quarter, Holdings Channel reports. The institutional investor acquired 36,862 shares of the company’s stock, valued at approximately $2,006,000.

Several other institutional investors have also recently bought and sold shares of BIRK. GAMMA Investing LLC increased its stake in shares of Birkenstock by 377.1% in the 2nd quarter. GAMMA Investing LLC now owns 668 shares of the company’s stock valued at $36,000 after buying an additional 528 shares during the period. Banque Cantonale Vaudoise acquired a new position in shares of Birkenstock during the first quarter valued at $40,000. CWM LLC boosted its holdings in Birkenstock by 358.2% in the first quarter. CWM LLC now owns 2,181 shares of the company’s stock valued at $103,000 after acquiring an additional 1,705 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Birkenstock in the second quarter worth about $136,000. Finally, Connable Office Inc. bought a new stake in Birkenstock during the 4th quarter worth about $216,000. Institutional investors own 19.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BIRK. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $70.00 target price on shares of Birkenstock in a research note on Thursday, June 13th. Stifel Nicolaus raised their price objective 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. BNP Paribas initiated coverage on shares of Birkenstock in a report on Thursday, June 20th. They set an “outperform” rating and a $68.00 target price for the company. Bank of America raised Birkenstock from a “neutral” rating to a “buy” rating and increased their price target for the company from $62.00 to $65.00 in a research note on Thursday, July 25th. Finally, Morgan Stanley lifted their price objective on Birkenstock from $44.00 to $58.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 25th. 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, Birkenstock currently has a consensus rating of “Moderate Buy” and an average target price of $62.23.

Birkenstock Price Performance

NYSE BIRK opened at $48.24 on Wednesday. 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 $35.83 and a 52-week high of $64.78. The business has a 50 day simple moving average of $55.23 and a 200 day simple moving average of $51.55. The stock has a market cap of $9.06 billion and a price-to-earnings ratio of 55.27.

Birkenstock (NYSE:BIRK) last issued its quarterly earnings data 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). Birkenstock had a return on equity of 5.79% and a net margin of 6.26%. The company had revenue of $564.76 million for the quarter, compared to the consensus estimate of $628.70 million. Analysts anticipate that Birkenstock Holding plc will post 1.37 earnings per share for the current fiscal year.

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.