Migdal Insurance & Financial Holdings Ltd. Acquires Shares of 210,000 Birkenstock Holding PLC (NYSE:BIRK)

Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of Birkenstock Holding PLC (NYSE:BIRK - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 210,000 shares of the company's stock, valued at approximately $9,629,000. Migdal Insurance & Financial Holdings Ltd. owned about 0.11% of Birkenstock as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of the company. Signaturefd LLC boosted its position 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 last quarter. Legal & General Group Plc boosted its holdings in shares of Birkenstock by 12.3% in the 4th quarter. Legal & General Group Plc now owns 3,158 shares of the company's stock valued at $179,000 after purchasing an additional 347 shares during the last quarter. Malaga Cove Capital LLC boosted its holdings in shares of Birkenstock by 3.5% in the 4th quarter. Malaga Cove Capital LLC now owns 12,108 shares of the company's stock valued at $686,000 after purchasing an additional 407 shares during the last quarter. Quarry LP boosted its holdings in shares of Birkenstock by 120.3% in the 4th quarter. Quarry LP now owns 1,097 shares of the company's stock valued at $62,000 after purchasing an additional 599 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in shares of Birkenstock by 4.9% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 14,778 shares of the company's stock valued at $837,000 after purchasing an additional 688 shares during the last quarter. Institutional investors and hedge funds own 19.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on BIRK shares. Piper Sandler cut their target price on shares of Birkenstock from $70.00 to $60.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. Evercore ISI lifted their price target on shares of Birkenstock from $65.00 to $70.00 and gave the stock an "outperform" rating in a research note on Monday, May 19th. UBS Group lifted their price target on shares of Birkenstock from $72.00 to $76.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. BMO Capital Markets lifted their price target on shares of Birkenstock from $70.00 to $75.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Finally, BTIG Research boosted their target price on shares of Birkenstock from $70.00 to $72.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Twelve research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average price target of $69.27.

Birkenstock Stock Performance

Shares of NYSE BIRK traded up $0.12 during trading hours on Friday, hitting $49.75. 1,358,465 shares of the stock were exchanged, compared to its average volume of 1,635,348. The company has a debt-to-equity ratio of 0.47, a current ratio of 3.06 and a quick ratio of 1.34. The company's 50 day moving average is $52.18 and its 200 day moving average is $51.69. The firm has a market capitalization of $9.34 billion, a P/E ratio of 35.04, a P/E/G ratio of 1.11 and a beta of 1.31. Birkenstock Holding PLC has a one year low of $40.56 and a one year high of $64.78.

Birkenstock (NYSE:BIRK - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The company reported $0.58 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.01. Birkenstock had a net margin of 12.86% and a return on equity of 10.22%. The firm had revenue of $623.54 million during the quarter, compared to the consensus estimate of $567.84 million. During the same period in the prior year, the firm earned $0.38 EPS. The business's revenue was up 19.3% on a year-over-year basis. On average, research analysts expect that Birkenstock Holding PLC will post 1.77 EPS for the current year.

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.