Birkenstock Holding plc (NYSE:BIRK) Shares Acquired by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Birkenstock Holding plc (NYSE:BIRK) by 30.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 3,000,000 shares of the company’s stock after purchasing an additional 700,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Birkenstock were worth $163,230,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in BIRK. Capital World Investors acquired a new position in Birkenstock in the 4th quarter valued at about $70,916,000. Millennium Management LLC purchased a new stake in shares of Birkenstock during the 2nd quarter valued at approximately $61,972,000. Ghisallo Capital Management LLC lifted its holdings in Birkenstock by 800.0% in the second quarter. Ghisallo Capital Management LLC now owns 900,000 shares of the company’s stock valued at $48,969,000 after acquiring an additional 800,000 shares during the last quarter. D. E. Shaw & Co. Inc. purchased a new position in Birkenstock in the second quarter worth approximately $25,098,000. Finally, Interval Partners LP increased its stake in Birkenstock by 240.6% during the second quarter. Interval Partners LP now owns 624,871 shares of the company’s stock worth $33,999,000 after acquiring an additional 441,419 shares during the last quarter. Hedge funds and other institutional investors own 19.93% of the company’s stock.

Wall Street Analyst Weigh In

BIRK has been the topic of several recent analyst reports. BMO Capital Markets reaffirmed an “outperform” rating and issued a $60.00 price target on shares of Birkenstock in a research note on Friday, August 30th. Bank of America raised shares of Birkenstock from a “neutral” rating to a “buy” rating and upped their target price for the company from $62.00 to $65.00 in a research report on Thursday, July 25th. 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. The Goldman Sachs Group downgraded shares of Birkenstock from a “buy” rating to a “neutral” rating and boosted their price target for the company from $54.20 to $58.00 in a research note on Wednesday, June 12th. Finally, UBS Group raised shares of Birkenstock from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $52.00 to $85.00 in a research report on Monday, July 1st. 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, Birkenstock presently has an average rating of “Moderate Buy” and a consensus target price of $62.23.

Birkenstock Price Performance

Shares of NYSE BIRK opened at $47.45 on Thursday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.91 and a quick ratio of 1.49. The company has a market cap of $8.91 billion and a price-to-earnings ratio of 59.32. The stock’s 50-day moving average is $53.89 and its two-hundred day moving average is $51.63. Birkenstock Holding plc has a 1-year low of $35.83 and a 1-year high of $64.78.

Birkenstock (NYSE:BIRK) last issued 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). Birkenstock had a net margin of 6.26% and a return on equity of 5.79%. The firm had revenue of $564.76 million during the quarter, compared to analyst estimates of $628.70 million. Analysts forecast that Birkenstock Holding plc will post 1.37 EPS 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.