UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Takes $1.32 Million Position in Birkenstock Holding plc (NYSE:BIRK)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Birkenstock Holding plc (NYSE:BIRK) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 26,838 shares of the company’s stock, valued at approximately $1,323,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Birkenstock by 30.4% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,000,000 shares of the company’s stock worth $163,230,000 after buying an additional 700,000 shares in the last quarter. FMR LLC raised its holdings in Birkenstock by 61.4% during the third quarter. FMR LLC now owns 2,128,689 shares of the company’s stock worth $104,923,000 after acquiring an additional 809,784 shares in the last quarter. Millennium Management LLC acquired a new position in Birkenstock during the second quarter valued at approximately $61,972,000. Federated Hermes Inc. grew its stake 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 purchasing an additional 316,935 shares in the last quarter. Finally, Ghisallo Capital Management LLC grew its stake in 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 purchasing an additional 800,000 shares in the last quarter. Institutional investors and hedge funds own 19.93% of the company’s stock.

Birkenstock Trading Up 0.6 %

Shares of Birkenstock stock opened at $56.08 on Wednesday. Birkenstock Holding plc has a 52-week low of $41.00 and a 52-week high of $64.78. The stock has a market cap of $10.53 billion, a PE ratio of 91.93, a PEG ratio of 1.19 and a beta of 2.22. The firm has a 50-day moving average of $49.65 and a 200-day moving average of $53.02. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.49 and a current ratio of 2.91.

Analyst Upgrades and Downgrades

BIRK has been the subject of several analyst reports. Hsbc Global Res raised shares of Birkenstock to a “strong-buy” rating in a research note on Tuesday, December 3rd. BMO Capital Markets reissued an “outperform” rating and issued a $60.00 price objective on shares of Birkenstock in a research report on Friday, August 30th. BTIG Research set a $60.00 target price on shares of Birkenstock and gave the company a “buy” rating in a report on Friday, October 18th. Stifel Nicolaus lifted their price target on Birkenstock from $63.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, UBS Group dropped their price objective on Birkenstock from $85.00 to $83.00 and set a “buy” rating on the stock in a research note on Tuesday, December 10th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $66.13.

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.