D. E. Shaw & Co. Inc. Buys New Stake in Birkenstock Holding plc (NYSE:BIRK)

D. E. Shaw & Co. Inc. purchased a new position in shares of Birkenstock Holding plc (NYSE:BIRK) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 461,284 shares of the company’s stock, valued at approximately $25,098,000. D. E. Shaw & Co. Inc. owned 0.25% of Birkenstock as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BIRK. Treasurer of the State of North Carolina acquired a new position in shares of Birkenstock in the 4th quarter worth approximately $643,000. Capital International Ltd. CA bought a new position in shares of Birkenstock during the fourth quarter valued at $1,909,000. Capital International Sarl acquired a new stake in shares of Birkenstock in the 4th quarter valued at $1,864,000. Capital World Investors bought a new stake in shares of Birkenstock in the 4th quarter worth about $70,916,000. Finally, Ghisallo Capital Management LLC acquired a new stake in shares of Birkenstock during the 4th quarter worth about $4,873,000. Institutional investors own 19.93% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Evercore ISI restated 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. BMO Capital Markets restated an “outperform” rating and set a $60.00 price target on shares of Birkenstock in a research report on Friday, August 30th. Citigroup started coverage on Birkenstock in a research report on Monday, July 1st. They issued a “buy” rating and a $65.00 price objective for the company. Bank of America upgraded Birkenstock from a “neutral” rating to a “buy” rating and increased their target price for the stock from $62.00 to $65.00 in a report on Thursday, July 25th. Finally, Morgan Stanley lifted their price target on Birkenstock from $44.00 to $58.00 and gave the company an “equal weight” rating in a report on Tuesday, June 25th. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $62.23.

Birkenstock Trading Down 1.2 %

NYSE:BIRK opened at $49.25 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. 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 $9.25 billion and a price-to-earnings ratio of 56.94. The business’s 50-day moving average price is $54.16 and its two-hundred day moving average price is $51.57.

Birkenstock (NYSE:BIRK) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.07). The firm had revenue of $564.76 million during 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%. On average, equities analysts expect that Birkenstock Holding plc will post 1.37 earnings per share for the current 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.