Bamco Inc. NY Buys 78,093 Shares of Birkenstock Holding plc (NYSE:BIRK)

Bamco Inc. NY lifted its stake in Birkenstock Holding plc (NYSE:BIRK) by 2.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,102,507 shares of the company’s stock after buying an additional 78,093 shares during the period. Bamco Inc. NY owned about 1.65% of Birkenstock worth $152,923,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the company. Verition Fund Management LLC raised its holdings in Birkenstock by 201.0% in the 3rd quarter. Verition Fund Management LLC now owns 345,852 shares of the company’s stock valued at $17,047,000 after acquiring an additional 230,947 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Birkenstock in the third quarter worth $1,323,000. MetLife Investment Management LLC lifted its position in Birkenstock by 52.2% in the third quarter. MetLife Investment Management LLC now owns 688 shares of the company’s stock worth $34,000 after purchasing an additional 236 shares during the period. BNP Paribas Financial Markets boosted its stake in Birkenstock by 299.3% during the third quarter. BNP Paribas Financial Markets now owns 193,268 shares of the company’s stock worth $9,526,000 after buying an additional 144,863 shares in the last quarter. Finally, Quantbot Technologies LP increased its holdings in Birkenstock by 4.6% in the 3rd quarter. Quantbot Technologies LP now owns 87,288 shares of the company’s stock valued at $4,302,000 after buying an additional 3,860 shares during the period. 19.93% of the stock is owned by institutional investors and hedge funds.

Birkenstock Stock Up 2.3 %

Shares of NYSE BIRK opened at $51.66 on Monday. Birkenstock Holding plc has a 12-month low of $41.00 and a 12-month high of $64.78. The firm’s 50-day simple moving average is $48.42 and its 200 day simple moving average is $52.59. The company has a quick ratio of 1.49, a current ratio of 2.91 and a debt-to-equity ratio of 0.55. The company has a market cap of $9.70 billion and a price-to-earnings ratio of 84.69.

Birkenstock (NYSE:BIRK) last announced its 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 for the quarter, compared to analyst estimates of $628.70 million. Birkenstock had a return on equity of 5.79% and a net margin of 6.26%. On average, research analysts expect that Birkenstock Holding plc will post 1.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BIRK has been the topic of several recent research reports. BMO Capital Markets reiterated an “outperform” rating and set a $60.00 target price on shares of Birkenstock in a research report on Friday, August 30th. 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. BTIG Research set a $60.00 target price on Birkenstock and gave the stock a “buy” rating in a report on Friday, October 18th. Stifel Nicolaus raised their target price on Birkenstock from $63.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Finally, Evercore ISI reiterated an “outperform” rating and issued a $77.00 price target (up from $63.00) on shares of Birkenstock in a research report on Monday, August 26th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $66.40.

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.