Magnetar Financial LLC Takes $607,000 Position in Birkenstock Holding plc (NYSE:BIRK)

Magnetar Financial LLC purchased a new stake in shares of Birkenstock Holding plc (NYSE:BIRK) in the 4th quarter, Holdings Channel reports. The fund purchased 10,718 shares of the company’s stock, valued at approximately $607,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Quarry LP purchased a new position in Birkenstock during the third quarter valued at approximately $25,000. Signaturefd LLC increased its holdings in Birkenstock by 642.6% during the fourth quarter. Signaturefd LLC now owns 505 shares of the company’s stock valued at $29,000 after buying an additional 437 shares during the period. MetLife Investment Management LLC increased its holdings in Birkenstock by 52.2% during the third quarter. MetLife Investment Management LLC now owns 688 shares of the company’s stock valued at $34,000 after buying an additional 236 shares during the period. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Birkenstock during the fourth quarter valued at approximately $34,000. Finally, R Squared Ltd purchased a new position in Birkenstock during the fourth quarter valued at approximately $143,000. Institutional investors own 19.93% of the company’s stock.

Wall Street Analysts Forecast Growth

BIRK has been the topic of several research reports. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Birkenstock from $65.00 to $66.00 and gave the company a “buy” rating in a report on Thursday, December 19th. BMO Capital Markets lifted their price target on shares of Birkenstock from $60.00 to $70.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. HSBC raised shares of Birkenstock from a “hold” rating to a “buy” rating and lifted their price target for the stock from $58.00 to $60.00 in a report on Tuesday, December 3rd. UBS Group lifted their price target on shares of Birkenstock from $83.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Finally, Hsbc Global Res raised shares of Birkenstock to a “strong-buy” rating in a report on Tuesday, December 3rd. Two research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Birkenstock has an average rating of “Moderate Buy” and a consensus price target of $68.31.

Birkenstock Trading Up 0.4 %

NYSE BIRK opened at $45.33 on Friday. The company has a market capitalization of $8.51 billion, a PE ratio of 36.56, a P/E/G ratio of 1.02 and a beta of 1.90. The company has a fifty day moving average of $53.06 and a 200 day moving average of $51.55. Birkenstock Holding plc has a 1 year low of $41.00 and a 1 year high of $64.78. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.84 and a quick ratio of 1.08.

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

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.