OPTIMAS CAPITAL Ltd Acquires New Holdings in Birkenstock Holding plc (NYSE:BIRK)

OPTIMAS CAPITAL Ltd bought a new stake in shares of Birkenstock Holding plc (NYSE:BIRK) in the 4th quarter, HoldingsChannel reports. The firm bought 37,500 shares of the company’s stock, valued at approximately $2,125,000. Birkenstock accounts for about 2.9% of OPTIMAS CAPITAL Ltd’s investment portfolio, making the stock its 17th largest position.

Several other hedge funds have also bought and sold shares of the stock. Amalgamated Bank increased its position in Birkenstock by 51.8% during the 3rd quarter. Amalgamated Bank now owns 2,071 shares of the company’s stock valued at $102,000 after purchasing an additional 707 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Birkenstock by 12.7% in the 3rd quarter. Victory Capital Management Inc. now owns 388,360 shares of the company’s stock worth $19,142,000 after purchasing an additional 43,657 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Birkenstock by 59.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,627 shares of the company’s stock worth $327,000 after purchasing an additional 2,473 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Birkenstock in the 3rd quarter worth approximately $1,048,000. Finally, Crestwood Capital Management L.P. grew its holdings in Birkenstock by 20.8% during the 3rd quarter. Crestwood Capital Management L.P. now owns 147,853 shares of the company’s stock valued at $7,288,000 after buying an additional 25,451 shares in the last quarter. 19.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on BIRK shares. BMO Capital Markets boosted their price target on shares of Birkenstock from $60.00 to $70.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. BTIG Research boosted their target price 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. Piper Sandler began coverage on shares of Birkenstock in a research note on Tuesday, December 10th. They set an “overweight” rating and a $65.00 target price for the company. HSBC raised shares of Birkenstock from a “hold” rating to a “buy” rating and boosted their target price for the company from $58.00 to $60.00 in a research note on Tuesday, December 3rd. Finally, Robert W. Baird boosted their target price on shares of Birkenstock from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $68.31.

Birkenstock Trading Up 1.4 %

Shares of BIRK opened at $44.25 on Tuesday. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.08 and a current ratio of 2.84. The stock has a 50-day moving average price of $54.05 and a 200 day moving average price of $51.71. Birkenstock Holding plc has a one year low of $41.00 and a one year high of $64.78. The company has a market capitalization of $8.31 billion, a P/E ratio of 35.69, a P/E/G ratio of 1.02 and a beta of 1.90.

Birkenstock (NYSE:BIRK) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.16 by $0.03. Birkenstock had a return on equity of 9.52% and a net margin of 11.73%. The business had revenue of $385.88 million for the quarter, compared to the consensus estimate of $355.80 million. Sell-side analysts forecast that Birkenstock Holding plc will post 1.77 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.