68,617 Shares in Birkenstock Holding plc (NYSE:BIRK) Acquired by Cinctive Capital Management LP

Cinctive Capital Management LP bought a new stake in shares of Birkenstock Holding plc (NYSE:BIRK) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 68,617 shares of the company’s stock, valued at approximately $3,888,000.

A number of other large investors have also added to or reduced their stakes in BIRK. Charles Schwab Investment Management Inc. grew its holdings in Birkenstock by 59.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,627 shares of the company’s stock valued at $327,000 after purchasing an additional 2,473 shares during the last quarter. FMR LLC increased its position in shares of 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 purchasing an additional 809,784 shares in the last quarter. MetLife Investment Management LLC boosted its stake in Birkenstock by 52.2% in the 3rd quarter. MetLife Investment Management LLC now owns 688 shares of the company’s stock worth $34,000 after purchasing an additional 236 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Birkenstock in the third quarter valued at about $1,323,000. Finally, HighTower Advisors LLC lifted its position in Birkenstock by 370.8% during the third quarter. HighTower Advisors LLC now owns 26,165 shares of the company’s stock valued at $1,289,000 after purchasing an additional 20,607 shares during the period. Institutional investors own 19.93% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on BIRK. BMO Capital Markets raised their price objective on Birkenstock from $60.00 to $70.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. BTIG Research raised their price objective on shares of Birkenstock from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. UBS Group lifted their price objective on shares of Birkenstock from $83.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft upped their target price on Birkenstock from $65.00 to $66.00 and gave the company a “buy” rating in a research report on Thursday, December 19th. Finally, Robert W. Baird increased their price target on Birkenstock from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Birkenstock currently has an average rating of “Moderate Buy” and a consensus price target of $68.31.

Birkenstock Stock Performance

NYSE BIRK opened at $47.13 on Thursday. The stock has a market cap of $8.85 billion, a price-to-earnings ratio of 38.01, a price-to-earnings-growth ratio of 1.02 and a beta of 1.90. The company has a quick ratio of 1.08, a current ratio of 2.84 and a debt-to-equity ratio of 0.48. 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 fifty day moving average of $51.21 and a 200-day moving average of $51.61.

Birkenstock (NYSE:BIRK) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.03. Birkenstock had a net margin of 11.73% and a return on equity of 9.52%. The company had revenue of $385.88 million during the quarter, compared to analysts’ expectations of $355.80 million. As a group, analysts predict that Birkenstock Holding plc will post 1.77 earnings per share for the current fiscal year.

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.