Polymer Capital Management HK LTD Sells 3,326 Shares of Birkenstock Holding plc (NYSE:BIRK)

Polymer Capital Management HK LTD lowered its position in Birkenstock Holding plc (NYSE:BIRK) by 38.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,300 shares of the company’s stock after selling 3,326 shares during the quarter. Polymer Capital Management HK LTD’s holdings in Birkenstock were worth $300,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. HighTower Advisors LLC increased its holdings 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 buying an additional 20,607 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Birkenstock in the 3rd quarter valued at $1,323,000. Renaissance Capital LLC raised its position in shares of Birkenstock by 94.0% in the 4th quarter. Renaissance Capital LLC now owns 82,190 shares of the company’s stock worth $4,657,000 after acquiring an additional 39,831 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new stake in shares of Birkenstock during the 4th quarter worth $606,000. Finally, Handelsbanken Fonder AB purchased a new position in Birkenstock in the fourth quarter valued at about $391,000. 19.93% of the stock is currently owned by hedge funds and other institutional investors.

Birkenstock Stock Performance

NYSE BIRK opened at $43.96 on Monday. The stock has a 50-day simple moving average of $50.61 and a two-hundred day simple moving average of $51.58. The firm has a market capitalization of $8.26 billion, a P/E ratio of 35.45, a PEG ratio of 1.02 and a beta of 1.71. Birkenstock Holding plc has a fifty-two week low of $41.00 and a fifty-two week high of $64.78. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.08 and a current ratio of 2.84.

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

Analyst Ratings Changes

BIRK has been the topic of a number of recent analyst reports. Robert W. Baird raised their price target on shares of Birkenstock from $65.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, December 19th. Piper Sandler assumed coverage on shares of Birkenstock in a report on Tuesday, December 10th. They issued an “overweight” rating and a $65.00 price target on the stock. UBS Group increased their price objective on Birkenstock from $83.00 to $95.00 and gave the company a “buy” rating in a report on Thursday, December 19th. BMO Capital Markets boosted their target price on Birkenstock from $60.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Finally, BTIG Research increased their price target on Birkenstock from $60.00 to $70.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. 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 company. According to MarketBeat, Birkenstock currently has an average rating of “Moderate Buy” and an average target price of $68.31.

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.