Charles Schwab Investment Management Inc. Has $327,000 Stock Holdings in Birkenstock Holding plc (NYSE:BIRK)

Charles Schwab Investment Management Inc. grew its holdings in shares of Birkenstock Holding plc (NYSE:BIRK) by 59.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,627 shares of the company’s stock after buying an additional 2,473 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Birkenstock were worth $327,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the business. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Birkenstock by 30.4% in the 2nd 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 acquiring an additional 700,000 shares in the last quarter. Millennium Management LLC purchased a new stake in shares of Birkenstock in the second quarter worth approximately $61,972,000. Federated Hermes Inc. lifted its holdings 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 purchasing an additional 316,935 shares in the last quarter. Ghisallo Capital Management LLC boosted its position in shares of Birkenstock by 800.0% during the second quarter. Ghisallo Capital Management LLC now owns 900,000 shares of the company’s stock valued at $48,969,000 after buying an additional 800,000 shares during the last quarter. Finally, Interval Partners LP grew its holdings 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 buying an additional 441,419 shares in the last quarter. 19.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. BMO Capital Markets raised their price objective on Birkenstock from $60.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday. Evercore ISI reissued an “outperform” rating and set a $77.00 price target (up from $63.00) on shares of Birkenstock in a research report on Monday, August 26th. BTIG Research upped their price objective on shares of Birkenstock from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Wednesday. UBS Group lifted their target price on shares of Birkenstock from $83.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday. Finally, Piper Sandler began coverage on Birkenstock in a report on Tuesday, December 10th. They issued an “overweight” rating and a $65.00 target price for the company. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $68.31.

Birkenstock Trading Up 0.8 %

Shares of BIRK opened at $57.59 on Friday. Birkenstock Holding plc has a fifty-two week low of $41.00 and a fifty-two week high of $64.78. The business has a 50-day moving average of $49.97 and a 200 day moving average of $53.08. The firm has a market cap of $10.82 billion, a P/E ratio of 94.41, a price-to-earnings-growth ratio of 1.19 and a beta of 2.22. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.49 and a current ratio of 2.91.

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.