MetLife Investment Management LLC Buys 236 Shares of Birkenstock Holding plc (NYSE:BIRK)

MetLife Investment Management LLC boosted its holdings in shares of Birkenstock Holding plc (NYSE:BIRK) by 52.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 688 shares of the company’s stock after purchasing an additional 236 shares during the quarter. MetLife Investment Management LLC’s holdings in Birkenstock were worth $34,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Healthcare of Ontario Pension Plan Trust Fund raised its stake in Birkenstock by 30.4% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,000,000 shares of the company’s stock valued at $163,230,000 after purchasing an additional 700,000 shares in the last quarter. FMR LLC raised its stake in shares of Birkenstock by 61.4% in the third quarter. FMR LLC now owns 2,128,689 shares of the company’s stock valued at $104,923,000 after acquiring an additional 809,784 shares during the period. Millennium Management LLC purchased a new stake in shares of Birkenstock in the second quarter valued at $61,972,000. Federated Hermes Inc. raised its stake in shares of 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 period. Finally, Ghisallo Capital Management LLC raised its stake in shares of 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 period. Hedge funds and other institutional investors own 19.93% of the company’s stock.

Birkenstock Trading Up 0.1 %

NYSE:BIRK opened at $54.37 on Wednesday. Birkenstock Holding plc has a 1 year low of $41.00 and a 1 year high of $64.78. The stock has a market cap of $10.21 billion, a price-to-earnings ratio of 89.13, a PEG ratio of 1.16 and a beta of 2.22. The business has a fifty day moving average of $48.93 and a 200-day moving average of $52.92. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.49 and a current ratio of 2.91.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on BIRK shares. Evercore ISI reissued an “outperform” rating and issued a $77.00 target price (up previously from $63.00) on shares of Birkenstock in a research note on Monday, August 26th. Hsbc Global Res raised shares of Birkenstock to a “strong-buy” rating in a research note on Tuesday, December 3rd. 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. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $70.00 price target on shares of Birkenstock in a research note on Tuesday, September 24th. Finally, HSBC raised shares of Birkenstock from a “hold” rating to a “buy” rating and raised their price target for the stock from $58.00 to $60.00 in a research note on Tuesday, December 3rd. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $66.13.

About Birkenstock

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.