Interval Partners LP Has $8.67 Million Stock Holdings in Birkenstock Holding plc (NYSE:BIRK)

Interval Partners LP raised its holdings in Birkenstock Holding plc (NYSE:BIRK) by 233.5% during the first quarter, HoldingsChannel.com reports. The fund owned 183,452 shares of the company’s stock after purchasing an additional 128,452 shares during the period. Interval Partners LP’s holdings in Birkenstock were worth $8,668,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Banque Cantonale Vaudoise bought a new position in shares of Birkenstock during the first quarter valued at $40,000. Tower Research Capital LLC TRC acquired a new position in Birkenstock during the 4th quarter worth about $77,000. Venturi Wealth Management LLC bought a new stake in shares of Birkenstock in the 4th quarter valued at about $83,000. CWM LLC increased its stake in shares of Birkenstock by 358.2% in the first quarter. CWM LLC now owns 2,181 shares of the company’s stock valued at $103,000 after buying an additional 1,705 shares during the period. Finally, Connable Office Inc. bought a new position in shares of Birkenstock during the fourth quarter worth about $216,000. 19.93% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

BIRK has been the topic of several analyst reports. Citigroup began coverage on Birkenstock in a report on Monday, July 1st. They issued a “buy” rating and a $65.00 target price on the stock. Bank of America upgraded shares of Birkenstock from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $62.00 to $65.00 in a research report on Thursday, July 25th. BNP Paribas started coverage on shares of Birkenstock in a report on Thursday, June 20th. They issued an “outperform” rating and a $68.00 target price on the stock. Morgan Stanley increased their price target on Birkenstock from $44.00 to $58.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 25th. Finally, Robert W. Baird boosted their price objective on Birkenstock from $58.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, May 31st. Four equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, Birkenstock has a consensus rating of “Moderate Buy” and an average target price of $60.29.

Birkenstock Price Performance

NYSE BIRK traded up $0.38 during mid-day trading on Tuesday, hitting $58.93. The company’s stock had a trading volume of 530,702 shares, compared to its average volume of 879,171. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.13 and a current ratio of 2.87. The company’s 50 day simple moving average is $56.00 and its 200 day simple moving average is $49.95. Birkenstock Holding plc has a twelve month low of $35.83 and a twelve month high of $61.83.

Birkenstock (NYSE:BIRK) last issued its quarterly earnings data on Thursday, May 30th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.09. The business had revenue of $522.51 million for the quarter, compared to analyst estimates of $499.98 million. As a group, research analysts expect that Birkenstock Holding plc will post 1.37 EPS 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.