Greenland Capital Management LP Acquires New Position in Birkenstock Holding plc (NYSE:BIRK)

Greenland Capital Management LP bought a new position in Birkenstock Holding plc (NYSE:BIRK) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 15,521 shares of the company’s stock, valued at approximately $879,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. HighTower Advisors LLC raised its holdings in Birkenstock by 370.8% in the 3rd quarter. HighTower Advisors LLC now owns 26,165 shares of the company’s stock worth $1,289,000 after acquiring an additional 20,607 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Birkenstock in the third quarter worth $1,323,000. Renaissance Capital LLC lifted its holdings in shares of Birkenstock by 94.0% during the fourth quarter. Renaissance Capital LLC now owns 82,190 shares of the company’s stock valued at $4,657,000 after purchasing an additional 39,831 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new stake in shares of Birkenstock during the fourth quarter valued at $606,000. Finally, Handelsbanken Fonder AB bought a new stake in Birkenstock in the 4th quarter worth about $391,000. Institutional investors own 19.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BIRK. BMO Capital Markets upped their target price on shares of Birkenstock from $60.00 to $70.00 and gave the company an “outperform” rating in a research note on Thursday, December 19th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Birkenstock from $65.00 to $66.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Piper Sandler initiated coverage on shares of Birkenstock in a research note on Tuesday, December 10th. They set an “overweight” rating and a $65.00 target price for the company. BTIG Research raised their price target on Birkenstock from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $70.00 price objective on shares of Birkenstock in a research report on Thursday, February 20th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Birkenstock currently has a consensus rating of “Moderate Buy” and an average price target of $68.31.

Birkenstock Price Performance

Shares of NYSE:BIRK opened at $41.88 on Wednesday. The firm’s 50 day simple moving average is $49.56 and its two-hundred day simple moving average is $51.44. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.84 and a quick ratio of 1.08. The company has a market capitalization of $7.87 billion, a P/E ratio of 33.77, a P/E/G ratio of 1.02 and a beta of 1.71. Birkenstock Holding plc has a 1-year low of $41.00 and a 1-year high of $64.78.

Birkenstock (NYSE:BIRK) last issued its earnings results on Thursday, February 20th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.03. The company had revenue of $385.88 million during the quarter, compared to the consensus estimate of $355.80 million. Birkenstock had a net margin of 11.73% and a return on equity of 9.52%. Research analysts expect that Birkenstock Holding plc will post 1.77 EPS for the current fiscal 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.