GAMMA Investing LLC Boosts Holdings in Birkenstock Holding PLC (NYSE:BIRK)

GAMMA Investing LLC boosted its position in Birkenstock Holding PLC (NYSE:BIRK - Free Report) by 3,914.1% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 30,949 shares of the company's stock after purchasing an additional 30,178 shares during the period. GAMMA Investing LLC's holdings in Birkenstock were worth $1,419,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Birkenstock by 170.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 72,538 shares of the company's stock worth $4,110,000 after purchasing an additional 45,700 shares in the last quarter. Woodline Partners LP grew its position in Birkenstock by 129.7% in the 4th quarter. Woodline Partners LP now owns 191,219 shares of the company's stock worth $10,834,000 after purchasing an additional 107,981 shares in the last quarter. Tairen Capital Ltd bought a new stake in Birkenstock in the 4th quarter worth about $1,133,000. ThornTree Capital Partners LP bought a new stake in Birkenstock in the 4th quarter worth about $19,506,000. Finally, Shellback Capital LP grew its position in Birkenstock by 26.1% in the 4th quarter. Shellback Capital LP now owns 120,700 shares of the company's stock worth $6,839,000 after purchasing an additional 25,000 shares in the last quarter. 19.93% of the stock is owned by institutional investors.

Analysts Set New Price Targets

BIRK has been the subject of a number of recent analyst reports. Bank of America upped their price objective on shares of Birkenstock from $70.00 to $73.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Evercore ISI increased their target price on shares of Birkenstock from $65.00 to $70.00 and gave the company an "outperform" rating in a research report on Monday, May 19th. Piper Sandler reduced their target price on shares of Birkenstock from $70.00 to $60.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. BMO Capital Markets increased their target price on shares of Birkenstock from $70.00 to $75.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Finally, William Blair reissued an "outperform" rating on shares of Birkenstock in a research report on Tuesday, June 3rd. One research analyst has rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Birkenstock currently has an average rating of "Buy" and an average price target of $68.07.

Birkenstock Stock Performance

Shares of BIRK stock traded up $0.83 during trading on Wednesday, reaching $52.59. 1,704,048 shares of the company's stock traded hands, compared to its average volume of 1,588,208. The company has a market capitalization of $9.88 billion, a P/E ratio of 37.03, a PEG ratio of 1.09 and a beta of 1.48. The company has a current ratio of 3.06, a quick ratio of 1.34 and a debt-to-equity ratio of 0.47. The firm's 50-day moving average is $52.40 and its 200 day moving average is $52.76. Birkenstock Holding PLC has a 1 year low of $40.56 and a 1 year high of $64.78.

Birkenstock (NYSE:BIRK - Get Free Report) last announced its quarterly earnings results on Thursday, May 15th. The company reported $0.58 EPS for the quarter, beating analysts' consensus estimates 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 net margin of 12.86% and a return on equity of 10.22%. Birkenstock's revenue was up 19.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.38 EPS. Equities research analysts expect that Birkenstock Holding PLC will post 1.77 EPS for the current year.

Birkenstock 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.