Los Angeles Capital Management LLC Buys Shares of 208,510 Birkenstock Holding PLC (NYSE:BIRK)

Los Angeles Capital Management LLC acquired a new position in Birkenstock Holding PLC (NYSE:BIRK - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 208,510 shares of the company's stock, valued at approximately $9,560,000. Los Angeles Capital Management LLC owned 0.11% of Birkenstock as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in BIRK. Signaturefd LLC boosted its stake in shares of Birkenstock by 642.6% in the fourth quarter. Signaturefd LLC now owns 505 shares of the company's stock worth $29,000 after acquiring an additional 437 shares during the period. NewEdge Advisors LLC bought a new position in Birkenstock during the fourth quarter valued at approximately $45,000. Quarry LP boosted its stake in Birkenstock by 120.3% during the fourth quarter. Quarry LP now owns 1,097 shares of the company's stock valued at $62,000 after buying an additional 599 shares during the last quarter. Headlands Technologies LLC bought a new position in Birkenstock during the fourth quarter valued at approximately $76,000. Finally, JPMorgan Chase & Co. boosted its stake in Birkenstock by 112.0% during the fourth quarter. JPMorgan Chase & Co. now owns 1,338 shares of the company's stock valued at $76,000 after buying an additional 707 shares during the last quarter. Institutional investors own 19.93% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on BIRK. Telsey Advisory Group reissued an "outperform" rating and set a $70.00 price target on shares of Birkenstock in a research note on Thursday, May 15th. BMO Capital Markets increased their price target on Birkenstock from $70.00 to $75.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Stifel Nicolaus increased their price target on Birkenstock from $62.00 to $70.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Evercore ISI increased their price target on Birkenstock from $65.00 to $70.00 and gave the company an "outperform" rating in a research note on Monday, May 19th. Finally, William Blair restated an "outperform" rating on shares of Birkenstock in a research report on Tuesday, June 3rd. Thirteen analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Birkenstock has an average rating of "Buy" and a consensus target price of $68.50.

Birkenstock Trading Up 1.8%

Shares of NYSE BIRK traded up $0.92 during midday trading on Friday, hitting $52.79. The company's stock had a trading volume of 496,132 shares, compared to its average volume of 1,909,679. The business's 50 day moving average is $51.94 and its two-hundred day moving average is $51.59. The firm has a market cap of $9.92 billion, a P/E ratio of 37.10, a price-to-earnings-growth ratio of 1.13 and a beta of 1.31. Birkenstock Holding PLC has a 12-month low of $40.56 and a 12-month high of $64.78. The company has a current ratio of 3.06, a quick ratio of 1.34 and a debt-to-equity ratio of 0.47.

Birkenstock (NYSE:BIRK - Get Free Report) last released its quarterly earnings data on Thursday, May 15th. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.57 by $0.01. The company had revenue of $623.54 million for the quarter, compared to the consensus estimate of $567.84 million. Birkenstock had a return on equity of 10.22% and a net margin of 12.86%. Birkenstock's quarterly revenue was up 19.3% on a year-over-year basis. During the same period last year, the business posted $0.38 EPS. As a group, equities research analysts expect that Birkenstock Holding PLC will post 1.77 EPS 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.