Birkenstock Holding plc (NYSE:BIRK) is Ghisallo Capital Management LLC’s 8th Largest Position

Ghisallo Capital Management LLC increased its position in Birkenstock Holding plc (NYSE:BIRK) by 800.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 900,000 shares of the company’s stock after acquiring an additional 800,000 shares during the period. Birkenstock comprises approximately 3.1% of Ghisallo Capital Management LLC’s holdings, making the stock its 8th largest position. Ghisallo Capital Management LLC’s holdings in Birkenstock were worth $48,969,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in BIRK. Treasurer of the State of North Carolina purchased a new stake in shares of Birkenstock in the 4th quarter worth $643,000. Capital International Ltd. CA purchased a new stake in shares of Birkenstock in the 4th quarter worth $1,909,000. Capital International Sarl purchased a new stake in shares of Birkenstock in the 4th quarter worth $1,864,000. Capital World Investors purchased a new stake in shares of Birkenstock in the 4th quarter worth $70,916,000. Finally, Cantor Fitzgerald L. P. purchased a new stake in shares of Birkenstock in the 4th quarter worth $278,000. 19.93% of the stock is currently owned by hedge funds and other institutional investors.

Birkenstock Stock Down 2.7 %

Shares of NYSE BIRK opened at $47.96 on Wednesday. Birkenstock Holding plc has a 52-week low of $35.83 and a 52-week high of $64.78. The firm has a market capitalization of $9.01 billion and a price-to-earnings ratio of 59.32. The stock has a 50 day moving average price of $53.89 and a 200 day moving average price of $51.63. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.49 and a current ratio of 2.91.

Birkenstock (NYSE:BIRK) last posted 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 firm had revenue of $564.76 million for 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%. Sell-side analysts expect that Birkenstock Holding plc will post 1.37 earnings per share for the current year.

Analyst Upgrades and Downgrades

BIRK has been the subject of several recent analyst reports. BNP Paribas began coverage on shares of Birkenstock in a report on Thursday, June 20th. They issued an “outperform” rating and a $68.00 target price for the company. Telsey Advisory Group reaffirmed an “outperform” rating and set a $70.00 price objective on shares of Birkenstock in a report on Tuesday, September 24th. BMO Capital Markets restated an “outperform” rating and issued a $60.00 price target on shares of Birkenstock in a research report on Friday, August 30th. The Goldman Sachs Group lowered shares of Birkenstock from a “buy” rating to a “neutral” rating and increased their price objective for the company from $54.20 to $58.00 in a research report on Wednesday, June 12th. Finally, Morgan Stanley boosted their target price on shares of Birkenstock from $44.00 to $58.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 25th. Four equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Birkenstock presently has an average rating of “Moderate Buy” and an average price target 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.