Morse Asset Management Inc Acquires Shares of 9,015 Birkenstock Holding plc (NYSE:BIRK)

Morse Asset Management Inc bought a new position in shares of Birkenstock Holding plc (NYSE:BIRK) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 9,015 shares of the company’s stock, valued at approximately $491,000.

Other hedge funds have also modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Birkenstock during the 4th quarter worth $458,539,000. Bamco Inc. NY lifted its stake in shares of Birkenstock by 1.4% during the first quarter. Bamco Inc. NY now owns 2,974,458 shares of the company’s stock valued at $140,543,000 after acquiring an additional 40,457 shares during the period. Capital World Investors lifted its stake in shares of Birkenstock by 1.0% during the first quarter. Capital World Investors now owns 1,469,369 shares of the company’s stock valued at $69,428,000 after acquiring an additional 14,089 shares during the period. Federated Hermes Inc. boosted its holdings in Birkenstock by 42.0% in the second quarter. Federated Hermes Inc. now owns 1,071,235 shares of the company’s stock valued at $58,286,000 after acquiring an additional 316,935 shares during the last quarter. Finally, Interval Partners LP increased its position in Birkenstock by 240.6% in the second quarter. Interval Partners LP now owns 624,871 shares of the company’s stock worth $33,999,000 after purchasing an additional 441,419 shares during the period. 19.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on BIRK shares. Stifel Nicolaus increased their price objective on shares of Birkenstock from $63.00 to $70.00 and gave the company a “buy” rating in a report on Friday, August 23rd. BNP Paribas assumed coverage on shares of Birkenstock in a research report on Thursday, June 20th. They issued an “outperform” rating and a $68.00 price target on the stock. Citigroup started coverage on shares of Birkenstock in a research report on Monday, July 1st. They set a “buy” rating and a $65.00 price target on the stock. Telsey Advisory Group restated an “outperform” rating and issued a $70.00 price objective on shares of Birkenstock in a research report on Thursday, August 29th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $70.00 target price on shares of Birkenstock in a report on Thursday, June 13th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Birkenstock presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.23.

Birkenstock Stock Down 0.1 %

Shares of BIRK stock opened at $47.83 on Monday. The firm’s fifty day moving average price is $54.64 and its two-hundred day moving average price is $51.53. The company has a current ratio of 2.91, a quick ratio of 1.49 and a debt-to-equity ratio of 0.55. Birkenstock Holding plc has a 1 year low of $35.83 and a 1 year high of $64.78. The firm has a market capitalization of $8.98 billion and a P/E ratio of 57.43.

Birkenstock (NYSE:BIRK) last released 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). Birkenstock had a net margin of 6.26% and a return on equity of 5.79%. The company had revenue of $564.76 million during the quarter, compared to analyst estimates of $628.70 million. On average, equities analysts predict that Birkenstock Holding plc will post 1.37 EPS for the current fiscal year.

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.