Lecap Asset Management Ltd. Makes New $2 Million Investment in Birkenstock Holding PLC (NYSE:BIRK)

Lecap Asset Management Ltd. purchased a new position in Birkenstock Holding PLC (NYSE:BIRK - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 43,514 shares of the company's stock, valued at approximately $1,995,000.

A number of other large investors have also bought and sold shares of BIRK. Norges Bank purchased a new position in Birkenstock in the 4th quarter worth approximately $131,786,000. Marshall Wace LLP increased its stake in Birkenstock by 260.5% in the 4th quarter. Marshall Wace LLP now owns 1,100,692 shares of the company's stock worth $62,365,000 after purchasing an additional 795,382 shares during the period. AGF Management Ltd. purchased a new position in Birkenstock in the 4th quarter worth approximately $37,153,000. AXA S.A. purchased a new position in Birkenstock in the 4th quarter worth approximately $29,050,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in Birkenstock by 9,658.9% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 470,182 shares of the company's stock worth $26,641,000 after purchasing an additional 465,364 shares during the period. 19.93% of the stock is owned by hedge funds and other institutional investors.

Birkenstock Stock Up 0.3%

Shares of NYSE BIRK traded up $0.16 during mid-day trading on Friday, hitting $49.43. 3,821,634 shares of the stock traded hands, compared to its average volume of 1,593,586. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.34 and a current ratio of 3.06. Birkenstock Holding PLC has a 52 week low of $40.56 and a 52 week high of $64.78. The company has a market cap of $9.28 billion, a price-to-earnings ratio of 34.81, a PEG ratio of 1.08 and a beta of 1.48. The stock has a fifty day moving average price of $52.84 and a 200-day moving average price of $52.66.

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on BIRK shares. BTIG Research lifted their price objective on Birkenstock from $70.00 to $72.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Bank of America lifted their price objective on Birkenstock from $70.00 to $73.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Robert W. Baird lifted their price objective on Birkenstock from $65.00 to $70.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Piper Sandler cut their price objective on Birkenstock from $70.00 to $60.00 and set an "overweight" rating on the stock in a research report on Friday, April 11th. Finally, Evercore ISI lifted their price objective on Birkenstock from $65.00 to $70.00 and gave the stock an "outperform" rating in a research report on Monday, May 19th. Thirteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $68.92.

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.