Virtu Financial LLC Acquires New Holdings in Birkenstock Holding plc (NYSE:BIRK)

Virtu Financial LLC bought a new position in Birkenstock Holding plc (NYSE:BIRK) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 36,862 shares of the company’s stock, valued at approximately $2,006,000.

Other large investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in Birkenstock by 377.1% in the 2nd 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. Banque Cantonale Vaudoise bought a new position in shares of Birkenstock in the first quarter valued at approximately $40,000. CWM LLC lifted its stake in shares of Birkenstock by 358.2% in the first quarter. CWM LLC now owns 2,181 shares of the company’s stock worth $103,000 after buying an additional 1,705 shares during the last quarter. Acadian Asset Management LLC bought a new stake in shares of Birkenstock during the 2nd quarter worth $136,000. Finally, Connable Office Inc. acquired a new position in Birkenstock in the 4th quarter valued at $216,000. 19.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $70.00 target price on shares of Birkenstock in a research report on Thursday, June 13th. Citigroup started coverage on Birkenstock in a research note on Monday, July 1st. They set a “buy” rating and a $65.00 target price for the company. Stifel Nicolaus lifted their price target on Birkenstock from $63.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. JPMorgan Chase & Co. increased their price objective on Birkenstock from $56.00 to $64.00 and gave the company an “overweight” rating in a research report on Monday, June 3rd. Finally, BNP Paribas started coverage on shares of Birkenstock in a research report on Thursday, June 20th. They set an “outperform” rating and a $68.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $62.23.

Birkenstock Price Performance

NYSE BIRK opened at $48.24 on Wednesday. Birkenstock Holding plc has a 1-year low of $35.83 and a 1-year high of $64.78. The company has a market capitalization of $9.06 billion and a price-to-earnings ratio of 55.27. The stock’s 50 day moving average is $55.23 and its two-hundred day moving average is $51.55. The company has a current ratio of 2.91, a quick ratio of 1.49 and a debt-to-equity ratio of 0.55.

Birkenstock (NYSE:BIRK) last issued its earnings results on Thursday, August 29th. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.07). Birkenstock had a net margin of 6.26% and a return on equity of 5.79%. The firm had revenue of $564.76 million during the quarter, compared to analyst estimates of $628.70 million. Equities analysts forecast that Birkenstock Holding plc will post 1.37 earnings per share for the current fiscal year.

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.