Bank of New York Mellon Corp Buys 10,157 Shares of Birkenstock Holding plc (NYSE:BIRK)

Bank of New York Mellon Corp grew its stake in shares of Birkenstock Holding plc (NYSE:BIRK) by 19.3% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 62,776 shares of the company’s stock after acquiring an additional 10,157 shares during the period. Bank of New York Mellon Corp’s holdings in Birkenstock were worth $3,416,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC boosted its holdings in shares of Birkenstock by 377.1% during the 2nd quarter. GAMMA Investing LLC now owns 668 shares of the company’s stock valued at $36,000 after acquiring an additional 528 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in Birkenstock in the first quarter valued at about $40,000. CWM LLC boosted 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 valued at $103,000 after purchasing an additional 1,705 shares in the last quarter. Connable Office Inc. bought a new stake in shares of Birkenstock during the fourth quarter worth about $216,000. Finally, Amalgamated Bank acquired a new position in shares of Birkenstock in the fourth quarter valued at approximately $233,000. 19.93% of the stock is currently owned by institutional investors and hedge funds.

Birkenstock Stock Performance

Shares of BIRK stock opened at $46.24 on Friday. The company has a quick ratio of 1.49, a current ratio of 2.91 and a debt-to-equity ratio of 0.55. Birkenstock Holding plc has a 52 week low of $35.83 and a 52 week high of $64.78. The firm has a 50 day moving average of $55.40 and a 200-day moving average of $51.56. The company has a market cap of $8.69 billion and a price-to-earnings ratio of 53.32.

Birkenstock (NYSE:BIRK) last posted its quarterly earnings results on Thursday, August 29th. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.07). Birkenstock had a net margin of 6.26% and a return on equity of 5.79%. The company had revenue of $564.76 million during the quarter, compared to the consensus estimate of $628.70 million. On average, equities analysts forecast that Birkenstock Holding plc will post 1.37 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $70.00 target price on shares of Birkenstock in a report on Thursday, June 13th. Robert W. Baird boosted their price objective on shares of Birkenstock from $58.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, May 31st. Stifel Nicolaus raised their target price on Birkenstock from $63.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Citigroup started coverage on Birkenstock in a research report on Monday, July 1st. They issued a “buy” rating and a $65.00 price target on the stock. Finally, UBS Group upgraded Birkenstock from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $52.00 to $85.00 in a research report on Monday, July 1st. Four research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, Birkenstock has a consensus rating of “Moderate Buy” and an average target price of $62.23.

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.