Bradley Foster & Sargent Inc. CT Takes $849,000 Position in Birkenstock Holding plc (NYSE:BIRK)

Bradley Foster & Sargent Inc. CT purchased a new stake in shares of Birkenstock Holding plc (NYSE:BIRK) in the second quarter, HoldingsChannel.com reports. The fund purchased 15,606 shares of the company’s stock, valued at approximately $849,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of BIRK. GAMMA Investing LLC increased its stake in shares of Birkenstock by 377.1% during the 2nd quarter. GAMMA Investing LLC now owns 668 shares of the company’s stock worth $36,000 after purchasing an additional 528 shares in the last quarter. Banque Cantonale Vaudoise purchased a new position in shares of Birkenstock during the 1st quarter worth approximately $40,000. CWM LLC increased its stake in shares of Birkenstock by 358.2% during the 1st quarter. CWM LLC now owns 2,181 shares of the company’s stock worth $103,000 after purchasing an additional 1,705 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of Birkenstock during the 2nd quarter worth approximately $136,000. Finally, MSA Advisors LLC purchased a new position in shares of Birkenstock during the 2nd quarter worth approximately $223,000. 19.93% of the stock is currently owned by institutional investors and hedge funds.

Birkenstock Stock Performance

NYSE:BIRK opened at $47.85 on Friday. 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 firm has a market capitalization of $8.99 billion and a price-to-earnings ratio of 55.27. The firm’s fifty day simple moving average is $54.94 and its 200 day simple moving average is $51.53. Birkenstock Holding plc has a twelve month low of $35.83 and a twelve month high of $64.78.

Birkenstock (NYSE:BIRK) last posted its 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). The business had revenue of $564.76 million for 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%. As a group, equities research analysts expect that Birkenstock Holding plc will post 1.37 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have commented on BIRK shares. Evercore ISI reaffirmed an “outperform” rating and issued a $77.00 target price (up from $63.00) on shares of Birkenstock in a research note on Monday, August 26th. Stifel Nicolaus lifted their target price on shares of Birkenstock from $63.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $60.00 target price on shares of Birkenstock in a research note on Friday, August 30th. JPMorgan Chase & Co. lifted their target price on shares of Birkenstock from $56.00 to $64.00 and gave the stock an “overweight” rating in a research note on Monday, June 3rd. Finally, Bank of America raised shares of Birkenstock from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $62.00 to $65.00 in a research note on Thursday, July 25th. Four investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $62.23.

About Birkenstock

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.