Birkenstock Holding plc (NYSE:BIRK) Shares Bought by HighTower Advisors LLC

HighTower Advisors LLC boosted its stake in shares of Birkenstock Holding plc (NYSE:BIRK) by 370.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 26,165 shares of the company’s stock after buying an additional 20,607 shares during the period. HighTower Advisors LLC’s holdings in Birkenstock were worth $1,289,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BIRK. MetLife Investment Management LLC lifted its stake in shares of Birkenstock by 52.2% in the 3rd quarter. MetLife Investment Management LLC now owns 688 shares of the company’s stock valued at $34,000 after purchasing an additional 236 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Birkenstock by 33.7% in the 3rd quarter. GAMMA Investing LLC now owns 893 shares of the company’s stock valued at $44,000 after purchasing an additional 225 shares during the last quarter. Amalgamated Bank lifted its stake in shares of Birkenstock by 51.8% in the 3rd quarter. Amalgamated Bank now owns 2,071 shares of the company’s stock valued at $102,000 after purchasing an additional 707 shares during the last quarter. Acadian Asset Management LLC acquired a new position in shares of Birkenstock in the 2nd quarter valued at $136,000. Finally, MSA Advisors LLC purchased a new stake in shares of Birkenstock in the 2nd quarter valued at $223,000. Institutional investors and hedge funds own 19.93% of the company’s stock.

Wall Street Analyst Weigh In

BIRK has been the topic of several research analyst reports. BMO Capital Markets reiterated an “outperform” rating and issued a $60.00 price objective on shares of Birkenstock in a report on Friday, August 30th. Piper Sandler initiated coverage on Birkenstock in a report on Tuesday, December 10th. They issued an “overweight” rating and a $65.00 price objective on the stock. UBS Group cut their price objective on Birkenstock from $85.00 to $83.00 and set a “buy” rating on the stock in a report on Tuesday, December 10th. Hsbc Global Res upgraded Birkenstock to a “strong-buy” rating in a report on Tuesday, December 3rd. Finally, HSBC upgraded Birkenstock from a “hold” rating to a “buy” rating and boosted their price objective for the company from $58.00 to $60.00 in a report on Tuesday, December 3rd. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $66.13.

Birkenstock Trading Up 1.2 %

BIRK opened at $55.73 on Tuesday. Birkenstock Holding plc has a one year low of $41.00 and a one year high of $64.78. The company has a market cap of $10.47 billion, a P/E ratio of 91.36, a PEG ratio of 1.19 and a beta of 2.22. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.49 and a current ratio of 2.91. The business’s 50-day simple moving average is $49.48 and its 200-day simple moving average is $53.03.

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.