Sigma Planning Corp Invests $551,000 in Birkenstock Holding PLC (NYSE:BIRK)

Sigma Planning Corp acquired a new stake in shares of Birkenstock Holding PLC (NYSE:BIRK - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 12,015 shares of the company's stock, valued at approximately $551,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Raymond James Financial Inc. purchased a new position in Birkenstock during the fourth quarter valued at approximately $283,000. HighTower Advisors LLC grew its holdings in shares of Birkenstock by 13.8% in the fourth quarter. HighTower Advisors LLC now owns 29,785 shares of the company's stock worth $1,688,000 after purchasing an additional 3,620 shares during the last quarter. Natixis Advisors LLC bought a new position in shares of Birkenstock in the fourth quarter worth about $577,000. Signaturefd LLC grew its holdings in Birkenstock by 642.6% during the 4th quarter. Signaturefd LLC now owns 505 shares of the company's stock worth $29,000 after acquiring an additional 437 shares in the last quarter. Finally, Magnetar Financial LLC purchased a new stake in shares of Birkenstock during the fourth quarter valued at about $607,000. 19.93% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages recently commented on BIRK. Stifel Nicolaus increased their price objective on shares of Birkenstock from $62.00 to $70.00 and gave the company a "buy" rating in a research report on Friday, May 16th. BMO Capital Markets raised their price objective 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. Telsey Advisory Group reaffirmed an "outperform" rating and set a $70.00 price objective on shares of Birkenstock in a research note on Thursday, May 15th. UBS Group raised their price objective 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. Finally, Piper Sandler dropped their price objective 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. Twelve research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Birkenstock currently has an average rating of "Buy" and an average price target of $69.27.

Birkenstock Trading Up 0.2%

BIRK traded up $0.12 on Friday, hitting $49.75. The company had a trading volume of 1,358,465 shares, compared to its average volume of 1,635,348. The firm has a market cap of $9.34 billion, a P/E ratio of 35.04, a PEG ratio of 1.11 and a beta of 1.31. Birkenstock Holding PLC has a 1 year low of $40.56 and a 1 year high of $64.78. The company's fifty day moving average price is $52.18 and its 200 day moving average price is $51.69. 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 announced its quarterly earnings results on Thursday, May 15th. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.57 by $0.01. Birkenstock had a return on equity of 10.22% and a net margin of 12.86%. 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 company posted $0.38 earnings per share. The firm's quarterly revenue was up 19.3% compared to the same quarter last year. As a group, equities analysts expect that Birkenstock Holding PLC will post 1.77 earnings per share 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.