Millennium Management LLC Invests $61.97 Million in Birkenstock Holding plc (NYSE:BIRK)

Millennium Management LLC purchased a new position in shares of Birkenstock Holding plc (NYSE:BIRK) in the second quarter, HoldingsChannel reports. The fund purchased 1,138,987 shares of the company’s stock, valued at approximately $61,972,000.

A number of other hedge funds and other institutional investors have also modified their holdings of BIRK. BNP Paribas Financial Markets purchased a new stake in Birkenstock in the first quarter valued at approximately $702,000. Capital World Investors grew its holdings in Birkenstock by 1.0% in the first 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 during the period. Blackstone Inc. purchased a new stake in Birkenstock in the fourth quarter valued at approximately $3,411,000. SG Americas Securities LLC purchased a new stake in Birkenstock in the first quarter valued at approximately $744,000. Finally, Ghisallo Capital Management LLC purchased a new stake in Birkenstock in the fourth quarter valued at approximately $4,873,000. 19.93% of the stock is currently owned by hedge funds and other institutional investors.

Birkenstock Trading Down 1.2 %

NYSE BIRK opened at $49.25 on Monday. The company has a current ratio of 2.91, a quick ratio of 1.49 and a debt-to-equity ratio of 0.55. The company’s fifty day simple moving average is $54.16 and its 200-day simple moving average is $51.61. The stock has a market cap of $9.25 billion and a P/E ratio of 59.32. Birkenstock Holding plc has a 52 week low of $35.83 and a 52 week high of $64.78.

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

Analysts Set New Price Targets

A number of research firms recently issued reports on BIRK. Evercore ISI restated an “outperform” rating and issued a $77.00 target price (up from $63.00) on shares of Birkenstock in a report on Monday, August 26th. BMO Capital Markets reaffirmed an “outperform” rating and set a $60.00 price target on shares of Birkenstock in a research report on Friday, August 30th. BNP Paribas initiated coverage on shares of Birkenstock in a research report on Thursday, June 20th. They set an “outperform” rating and a $68.00 price target on the stock. Stifel Nicolaus lifted their price target on shares of Birkenstock from $63.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Birkenstock from $56.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday, June 3rd. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $62.23.

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.