Alpha DNA Investment Management LLC Invests $365,000 in Birkenstock Holding plc (NYSE:BIRK)

Alpha DNA Investment Management LLC bought a new stake in shares of Birkenstock Holding plc (NYSE:BIRK) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 6,701 shares of the company’s stock, valued at approximately $365,000.

Other institutional investors have also bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Birkenstock during the 4th quarter worth $458,539,000. Capital World Investors purchased a new position in Birkenstock during the fourth quarter worth about $70,916,000. Interval Partners LP grew its position in Birkenstock by 240.6% in the 2nd quarter. Interval Partners LP now owns 624,871 shares of the company’s stock worth $33,999,000 after purchasing an additional 441,419 shares in the last quarter. Victory Capital Management Inc. purchased a new stake in Birkenstock in the 2nd quarter valued at about $18,755,000. Finally, Federated Hermes Inc. boosted its stake in shares of Birkenstock by 42.0% in the 2nd quarter. Federated Hermes Inc. now owns 1,071,235 shares of the company’s stock worth $58,286,000 after buying an additional 316,935 shares during the last quarter. Institutional investors own 19.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Morgan Stanley increased their price target on Birkenstock from $44.00 to $58.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 25th. Evercore ISI reiterated an “outperform” rating and set a $77.00 target price (up from $63.00) on shares of Birkenstock in a research note on Monday, August 26th. Robert W. Baird boosted their price target on shares of Birkenstock from $58.00 to $65.00 and gave the stock an “outperform” rating in a report on Friday, May 31st. The Goldman Sachs Group downgraded shares of Birkenstock from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $54.20 to $58.00 in a report on Wednesday, June 12th. Finally, Bank of America raised shares of Birkenstock from a “neutral” rating to a “buy” rating and increased their target price for the company from $62.00 to $65.00 in a research report on Thursday, July 25th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, Birkenstock has a consensus rating of “Moderate Buy” and an average price target of $62.23.

Birkenstock Trading Down 1.6 %

Shares of Birkenstock stock opened at $49.35 on Thursday. The company’s 50-day moving average price is $54.34 and its 200-day moving average price is $51.54. The company has a market cap of $9.27 billion and a price-to-earnings ratio of 56.94. Birkenstock Holding plc has a 12-month low of $35.83 and a 12-month high of $64.78. The company has a current ratio of 2.91, a quick ratio of 1.49 and a debt-to-equity ratio of 0.55.

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

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.