Victory Capital Management Inc. Invests $18.76 Million in Birkenstock Holding plc (NYSE:BIRK)

Victory Capital Management Inc. acquired a new position in shares of Birkenstock Holding plc (NYSE:BIRK) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 344,703 shares of the company’s stock, valued at approximately $18,755,000. Victory Capital Management Inc. owned 0.18% of Birkenstock at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of BIRK. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Birkenstock during the fourth quarter worth about $458,539,000. Norges Bank bought a new stake in Birkenstock in the fourth quarter valued at approximately $177,068,000. Capital World Investors bought a new stake in Birkenstock in the fourth quarter valued at approximately $70,916,000. Bwcp LP raised its stake in Birkenstock by 162.3% in the first quarter. Bwcp LP now owns 209,645 shares of the company’s stock valued at $9,906,000 after buying an additional 129,726 shares during the period. Finally, Interval Partners LP raised its stake in Birkenstock by 233.5% in the first quarter. Interval Partners LP now owns 183,452 shares of the company’s stock valued at $8,668,000 after buying an additional 128,452 shares during the period. Institutional investors own 19.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on BIRK shares. UBS Group upgraded Birkenstock from a “neutral” rating to a “buy” rating and upped their price objective for the company from $52.00 to $85.00 in a research note on Monday, July 1st. Citigroup assumed coverage on Birkenstock in a research note on Monday, July 1st. They set a “buy” rating and a $65.00 target price on the stock. BMO Capital Markets reiterated an “outperform” rating and set a $60.00 target price on shares of Birkenstock in a research note on Friday, August 30th. JPMorgan Chase & Co. increased their target price on Birkenstock from $56.00 to $64.00 and gave the stock an “overweight” rating in a research note on Monday, June 3rd. Finally, The Goldman Sachs Group lowered Birkenstock from a “buy” rating to a “neutral” rating and increased their target price for the stock from $54.20 to $58.00 in a research note on Wednesday, June 12th. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.23.

Birkenstock Trading Up 3.7 %

Shares of BIRK stock opened at $46.44 on Friday. The stock’s fifty day moving average price is $55.61 and its two-hundred day moving average price is $51.59. The company has a market cap of $8.72 billion and a PE ratio of 54.06. Birkenstock Holding plc has a fifty-two week low of $35.83 and a fifty-two week high of $64.78. 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 (NYSE:BIRK) last issued its earnings results on Thursday, August 29th. The company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.07). The business 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%. Equities analysts predict that Birkenstock Holding plc will post 1.37 EPS 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.