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Birkenstock Holding PLC (NYSE:BIRK) Holdings Decreased by XTX Topco Ltd

Birkenstock logo with Consumer Discretionary background

Key Points

  • XTX Topco Ltd decreased its holdings in Birkenstock Holding PLC by 47.8%, bringing its ownership to 6,444 shares valued at approximately $295,000.
  • Several hedge funds adjusted their positions in Birkenstock, with Signaturefd LLC increasing its stake by 66.5%, while Quarry LP raised its holdings by 120.3%.
  • Analysts have upgraded Birkenstock's stock ratings multiple times, with Bank of America increasing its price target to $73.00 and thirteen analysts now rating it as a "buy."
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XTX Topco Ltd reduced its position in shares of Birkenstock Holding PLC (NYSE:BIRK - Free Report) by 47.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,444 shares of the company's stock after selling 5,902 shares during the period. XTX Topco Ltd's holdings in Birkenstock were worth $295,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Signaturefd LLC grew its holdings in Birkenstock by 66.5% during the first quarter. Signaturefd LLC now owns 841 shares of the company's stock worth $39,000 after acquiring an additional 336 shares during the period. Legal & General Group Plc grew its holdings in Birkenstock by 12.3% during the fourth quarter. Legal & General Group Plc now owns 3,158 shares of the company's stock worth $179,000 after acquiring an additional 347 shares during the period. Malaga Cove Capital LLC increased its stake in Birkenstock by 3.5% in the 4th quarter. Malaga Cove Capital LLC now owns 12,108 shares of the company's stock worth $686,000 after purchasing an additional 407 shares in the last quarter. Quarry LP increased its stake in Birkenstock by 120.3% in the 4th quarter. Quarry LP now owns 1,097 shares of the company's stock worth $62,000 after purchasing an additional 599 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in Birkenstock by 4.9% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 14,778 shares of the company's stock worth $837,000 after purchasing an additional 688 shares in the last quarter. 19.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on BIRK shares. Bank of America lifted their price target on Birkenstock from $70.00 to $73.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. The Goldman Sachs Group raised Birkenstock from a "neutral" rating to a "buy" rating and set a $60.00 price target on the stock in a research note on Thursday, July 24th. Telsey Advisory Group reissued an "outperform" rating and issued a $70.00 price target on shares of Birkenstock in a research note on Tuesday, August 5th. BTIG Research lifted their price target on Birkenstock from $70.00 to $72.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Finally, UBS Group set a $77.00 price target on Birkenstock and gave the stock a "buy" rating in a research note on Tuesday, August 5th. Thirteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target of $68.58.

Check Out Our Latest Report on Birkenstock

Birkenstock Trading Down 0.6%

NYSE:BIRK opened at $48.20 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.06 and a quick ratio of 1.34. Birkenstock Holding PLC has a fifty-two week low of $40.56 and a fifty-two week high of $64.78. The stock's 50-day moving average is $50.86 and its two-hundred day moving average is $50.86. The stock has a market cap of $9.05 billion, a PE ratio of 33.94, a price-to-earnings-growth ratio of 1.15 and a beta of 1.31.

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

About Birkenstock

(Free Report)

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.

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Institutional Ownership by Quarter for Birkenstock (NYSE:BIRK)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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