Bradley Foster & Sargent Inc. CT Buys New Stake in Birkenstock Holding plc (NYSE:BIRK)

Bradley Foster & Sargent Inc. CT bought a new stake in Birkenstock Holding plc (NYSE:BIRK) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 15,606 shares of the company’s stock, valued at approximately $849,000.

Other large investors have also recently bought and sold shares of the company. GAMMA Investing LLC increased its holdings in Birkenstock by 377.1% in the second quarter. GAMMA Investing LLC now owns 668 shares of the company’s stock valued at $36,000 after buying an additional 528 shares during the last quarter. Banque Cantonale Vaudoise purchased a new position in shares of Birkenstock during the first quarter worth about $40,000. CWM LLC grew its holdings in shares of Birkenstock by 358.2% during the first quarter. CWM LLC now owns 2,181 shares of the company’s stock worth $103,000 after purchasing an additional 1,705 shares during the last quarter. Acadian Asset Management LLC purchased a new position in shares of Birkenstock during the second quarter worth about $136,000. Finally, Connable Office Inc. purchased a new position in shares of Birkenstock during the fourth quarter worth about $216,000. Hedge funds and other institutional investors own 19.93% of the company’s stock.

Birkenstock Price Performance

Shares of NYSE:BIRK opened at $47.85 on Friday. 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 $8.99 billion and a P/E ratio of 55.27. Birkenstock Holding plc has a 52 week low of $35.83 and a 52 week high of $64.78. The company has a 50-day moving average price of $54.94 and a 200 day moving average price of $51.53.

Birkenstock (NYSE:BIRK) last posted its quarterly 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 for the quarter, compared to analyst estimates of $628.70 million. Research analysts predict that Birkenstock Holding plc will post 1.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BIRK has been the topic of several research reports. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $70.00 price objective on shares of Birkenstock in a report on Thursday, June 13th. UBS Group raised Birkenstock from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $52.00 to $85.00 in a report on Monday, July 1st. Telsey Advisory Group reaffirmed an “outperform” rating and set a $70.00 price objective on shares of Birkenstock in a report on Thursday, August 29th. Stifel Nicolaus increased their target price on shares of Birkenstock from $63.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Finally, Bank of America upgraded shares of 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 research note on Thursday, July 25th. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Birkenstock has a consensus rating of “Moderate Buy” and an average price target of $62.23.

Birkenstock Company 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.