Amalgamated Bank Lowers Stake in Birkenstock Holding plc (NYSE:BIRK)

Amalgamated Bank decreased its holdings in shares of Birkenstock Holding plc (NYSE:BIRK) by 24.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,364 shares of the company’s stock after selling 443 shares during the quarter. Amalgamated Bank’s holdings in Birkenstock were worth $74,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in BIRK. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Birkenstock during the 4th quarter valued at about $458,539,000. Bamco Inc. NY boosted its holdings in Birkenstock by 1.4% in the 1st quarter. Bamco Inc. NY now owns 2,974,458 shares of the company’s stock valued at $140,543,000 after purchasing an additional 40,457 shares during the last quarter. Capital World Investors lifted its stake in shares of Birkenstock by 1.0% in the 1st quarter. Capital World Investors now owns 1,469,369 shares of the company’s stock valued at $69,428,000 after purchasing an additional 14,089 shares during the last quarter. Federated Hermes Inc. increased its holdings in Birkenstock by 42.0% during the 2nd quarter. Federated Hermes Inc. now owns 1,071,235 shares of the company’s stock worth $58,286,000 after purchasing an additional 316,935 shares during the period. Finally, Victory Capital Management Inc. acquired a new stake in Birkenstock in the 2nd quarter valued at about $18,755,000. Institutional investors and hedge funds own 19.93% of the company’s stock.

Birkenstock Trading Down 2.7 %

NYSE:BIRK opened at $47.96 on Wednesday. The company has a market capitalization of $9.01 billion and a PE ratio of 59.32. Birkenstock Holding plc has a 52-week low of $35.83 and a 52-week high of $64.78. The stock has a fifty day simple moving average of $53.89 and a 200-day simple moving average of $51.63. The company has a quick ratio of 1.49, a current ratio of 2.91 and a debt-to-equity ratio of 0.55.

Birkenstock (NYSE:BIRK) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.49 earnings per share (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 business had revenue of $564.76 million during the quarter, compared to analysts’ expectations of $628.70 million. On average, equities research analysts expect that Birkenstock Holding plc will post 1.37 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on BIRK shares. Bank of America raised Birkenstock from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $62.00 to $65.00 in a research report on Thursday, July 25th. Stifel Nicolaus increased their price target on shares of Birkenstock from $63.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. UBS Group raised Birkenstock from a “neutral” rating to a “buy” rating and upped their price objective for the company from $52.00 to $85.00 in a research note on Monday, July 1st. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $70.00 target price on shares of Birkenstock in a research note on Thursday, June 13th. Finally, BMO Capital Markets restated an “outperform” rating and set a $60.00 price target on shares of Birkenstock in a research note on Friday, August 30th. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $62.23.

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.