Holocene Advisors LP Purchases 128,552 Shares of Birkenstock Holding plc (NYSE:BIRK)

Holocene Advisors LP grew its position in shares of Birkenstock Holding plc (NYSE:BIRK) by 34.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 501,806 shares of the company’s stock after acquiring an additional 128,552 shares during the quarter. Holocene Advisors LP owned 0.27% of Birkenstock worth $24,734,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Bamco Inc. NY boosted its stake in shares of Birkenstock by 2.6% during the 3rd quarter. Bamco Inc. NY now owns 3,102,507 shares of the company’s stock worth $152,923,000 after buying an additional 78,093 shares during the last quarter. Verition Fund Management LLC raised its holdings in Birkenstock by 201.0% during the third quarter. Verition Fund Management LLC now owns 345,852 shares of the company’s stock worth $17,047,000 after acquiring an additional 230,947 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Birkenstock during the third quarter valued at approximately $1,323,000. MetLife Investment Management LLC grew its stake in Birkenstock by 52.2% in the third quarter. MetLife Investment Management LLC now owns 688 shares of the company’s stock valued at $34,000 after purchasing an additional 236 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Birkenstock by 299.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 193,268 shares of the company’s stock worth $9,526,000 after purchasing an additional 144,863 shares during the last quarter. 19.93% of the stock is owned by institutional investors.

Birkenstock Trading Down 0.4 %

Shares of Birkenstock stock opened at $51.46 on Tuesday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.49 and a current ratio of 2.91. The firm has a 50-day moving average of $48.42 and a 200-day moving average of $52.63. Birkenstock Holding plc has a 52-week low of $41.00 and a 52-week high of $64.78. The stock has a market cap of $9.67 billion and a PE ratio of 84.36.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BIRK. BMO Capital Markets reissued an “outperform” rating and issued a $60.00 target price on shares of Birkenstock in a research note on Friday, August 30th. BTIG Research set a $60.00 price objective on shares of Birkenstock and gave the company a “buy” rating in a research report on Friday, October 18th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $70.00 target price on shares of Birkenstock in a report on Tuesday, September 24th. Stifel Nicolaus lifted their price target on Birkenstock from $63.00 to $70.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Finally, Evercore ISI restated an “outperform” rating and issued a $77.00 price objective (up previously from $63.00) on shares of Birkenstock in a research note on Monday, August 26th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $66.40.

Birkenstock Company 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.