Malaga Cove Capital LLC Acquires 7,350 Shares of Birkenstock Holding plc (NYSE:BIRK)

Malaga Cove Capital LLC lifted its holdings in Birkenstock Holding plc (NYSE:BIRK) by 168.9% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 11,701 shares of the company’s stock after acquiring an additional 7,350 shares during the quarter. Malaga Cove Capital LLC’s holdings in Birkenstock were worth $577,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. GAMMA Investing LLC grew its holdings in shares of Birkenstock by 377.1% in the second quarter. GAMMA Investing LLC now owns 668 shares of the company’s stock worth $36,000 after purchasing an additional 528 shares during the last quarter. Amalgamated Bank grew its holdings in Birkenstock by 51.8% in the 3rd quarter. Amalgamated Bank now owns 2,071 shares of the company’s stock worth $102,000 after acquiring an additional 707 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of Birkenstock during the second quarter valued at about $136,000. MSA Advisors LLC bought a new position in shares of Birkenstock during the second quarter valued at about $223,000. Finally, Alpha DNA Investment Management LLC purchased a new stake in shares of Birkenstock during the second quarter worth about $365,000. Hedge funds and other institutional investors own 19.93% of the company’s stock.

Wall Street Analyst Weigh In

BIRK has been the subject of several research analyst reports. Evercore ISI reiterated an “outperform” rating and issued a $77.00 price objective (up previously from $63.00) on shares of Birkenstock in a report on Monday, August 26th. BTIG Research set a $60.00 price target on shares of Birkenstock and gave the company a “buy” rating in a report on Friday, October 18th. Bank of America upgraded shares of Birkenstock from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $62.00 to $65.00 in a report on Thursday, July 25th. Stifel Nicolaus lifted their price target on Birkenstock from $63.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $60.00 price target on shares of Birkenstock in a research report on Friday, August 30th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $64.57.

Birkenstock Trading Up 0.3 %

Shares of BIRK stock opened at $46.40 on Thursday. The company has a market cap of $8.72 billion and a PE ratio of 76.07. Birkenstock Holding plc has a 1 year low of $38.50 and a 1 year high of $64.78. The stock’s 50 day simple moving average is $48.40 and its two-hundred day simple moving average is $52.32. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.91 and a quick ratio of 1.49.

Birkenstock (NYSE:BIRK) last released its quarterly earnings results on Thursday, August 29th. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.07). The company had revenue of $564.76 million for the quarter, compared to analysts’ expectations of $628.70 million. Birkenstock had a net margin of 6.26% and a return on equity of 5.79%. Research analysts predict that Birkenstock Holding plc will post 1.39 earnings per share 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.