Banque Cantonale Vaudoise Purchases New Stake in Birkenstock Holding plc (NYSE:BIRK)

Banque Cantonale Vaudoise acquired a new position in shares of Birkenstock Holding plc (NYSE:BIRK) in the 1st quarter, HoldingsChannel reports. The fund acquired 850 shares of the company’s stock, valued at approximately $40,000.

Several other institutional investors also recently bought and sold shares of the business. Alaska Permanent Fund Corp purchased a new stake in Birkenstock during the 1st quarter worth $2,962,000. CWM LLC lifted its stake in shares of Birkenstock by 358.2% during the first quarter. CWM LLC now owns 2,181 shares of the company’s stock worth $103,000 after purchasing an additional 1,705 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Birkenstock in the fourth quarter worth about $112,079,000. Blackstone Inc. acquired a new stake in shares of Birkenstock in the fourth quarter valued at about $3,411,000. Finally, Cantor Fitzgerald L. P. acquired a new stake in shares of Birkenstock in the fourth quarter valued at about $278,000. 19.93% of the stock is currently owned by hedge funds and other institutional investors.

Birkenstock Stock Down 4.0 %

Shares of NYSE BIRK opened at $57.36 on Wednesday. The business has a 50 day simple moving average of $50.84 and a 200-day simple moving average of $48.59. Birkenstock Holding plc has a twelve month low of $35.83 and a twelve month high of $61.83. The company has a current ratio of 2.87, a quick ratio of 1.13 and a debt-to-equity ratio of 0.56.

Birkenstock (NYSE:BIRK) last issued its earnings results on Thursday, May 30th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.09. The business had revenue of $522.51 million for the quarter, compared to analyst estimates of $499.98 million. Analysts expect that Birkenstock Holding plc will post 1.34 EPS for the current year.

Analysts Set New Price Targets

BIRK has been the subject of a number of analyst reports. Morgan Stanley upped their price target on Birkenstock from $44.00 to $58.00 and gave the stock an “equal weight” rating in a report on Tuesday. The Goldman Sachs Group lowered shares of Birkenstock from a “buy” rating to a “neutral” rating and raised their price target for the company from $54.20 to $58.00 in a report on Wednesday, June 12th. BMO Capital Markets boosted their price objective on shares of Birkenstock from $54.00 to $60.00 and gave the stock an “outperform” rating in a report on Friday, May 31st. Piper Sandler raised their target price on Birkenstock from $56.50 to $61.00 and gave the company an “overweight” rating in a research note on Friday, March 1st. Finally, Bank of America lifted their target price on Birkenstock from $54.00 to $62.00 and gave the stock a “neutral” rating in a research report on Friday, May 31st. Six equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $57.56.

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.