Malaga Cove Capital LLC Acquires 7,350 Shares of Birkenstock Holding plc (NYSE:BIRK)

Malaga Cove Capital LLC grew its stake in shares of Birkenstock Holding plc (NYSE:BIRK) by 168.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,701 shares of the company’s stock after purchasing an additional 7,350 shares during the quarter. Malaga Cove Capital LLC’s holdings in Birkenstock were worth $577,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. BNP Paribas Financial Markets bought a new position in shares of Birkenstock during the 1st quarter worth $702,000. Capital World Investors raised its holdings in shares of Birkenstock by 1.0% in the 1st quarter. Capital World Investors now owns 1,469,369 shares of the company’s stock valued at $69,428,000 after purchasing an additional 14,089 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Birkenstock in the 1st quarter worth approximately $744,000. Seven Eight Capital LP bought a new position in shares of Birkenstock during the first quarter valued at approximately $950,000. Finally, Federated Hermes Inc. increased its holdings in Birkenstock by 42.0% during the second quarter. Federated Hermes Inc. now owns 1,071,235 shares of the company’s stock valued at $58,286,000 after buying an additional 316,935 shares during the period. 19.93% of the stock is currently owned by institutional investors.

Birkenstock Stock Up 0.3 %

Shares of BIRK stock opened at $46.40 on Thursday. Birkenstock Holding plc has a fifty-two week low of $38.50 and a fifty-two week high of $64.78. The firm has a market capitalization of $8.72 billion and a PE ratio of 76.07. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.49 and a current ratio of 2.91. The stock’s 50-day simple moving average is $48.40 and its 200-day simple moving average is $52.32.

Birkenstock (NYSE:BIRK) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.07). The business had revenue of $564.76 million for 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%. Equities analysts expect that Birkenstock Holding plc will post 1.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on BIRK shares. Telsey Advisory Group restated an “outperform” rating and set a $70.00 target price on shares of Birkenstock in a report on Tuesday, September 24th. Evercore ISI restated an “outperform” rating and set a $77.00 price objective (up from $63.00) on shares of Birkenstock in a research note on Monday, August 26th. BMO Capital Markets reiterated an “outperform” rating and issued a $60.00 target price on shares of Birkenstock in a research note on Friday, August 30th. BTIG Research set a $60.00 price target on shares of Birkenstock and gave the company a “buy” rating in a report on Friday, October 18th. Finally, Bank of America raised shares of Birkenstock from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $62.00 to $65.00 in a research report on Thursday, July 25th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $64.57.

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.