Hook Mill Capital Partners LP Buys Shares of 450,357 Birkenstock Holding PLC $BIRK

Hook Mill Capital Partners LP purchased a new position in Birkenstock Holding PLC (NYSE:BIRK) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 450,357 shares of the company’s stock, valued at approximately $22,149,000. Birkenstock comprises 2.2% of Hook Mill Capital Partners LP’s portfolio, making the stock its 20th biggest holding. Hook Mill Capital Partners LP owned approximately 0.24% of Birkenstock as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Fortress Investment Group LLC grew its position in Birkenstock by 91.2% in the second quarter. Fortress Investment Group LLC now owns 250,000 shares of the company’s stock worth $12,295,000 after acquiring an additional 119,225 shares in the last quarter. Engineers Gate Manager LP lifted its holdings in Birkenstock by 7.9% in the 2nd quarter. Engineers Gate Manager LP now owns 69,144 shares of the company’s stock worth $3,401,000 after purchasing an additional 5,079 shares during the last quarter. BNP Paribas Financial Markets boosted its position in Birkenstock by 1,488.0% during the second quarter. BNP Paribas Financial Markets now owns 268,101 shares of the company’s stock worth $13,185,000 after purchasing an additional 251,218 shares during the period. Boothbay Fund Management LLC grew its holdings in Birkenstock by 20.5% during the second quarter. Boothbay Fund Management LLC now owns 110,043 shares of the company’s stock valued at $5,412,000 after purchasing an additional 18,697 shares during the last quarter. Finally, Balyasny Asset Management L.P. raised its position in shares of Birkenstock by 214.3% in the second quarter. Balyasny Asset Management L.P. now owns 2,991,187 shares of the company’s stock valued at $147,107,000 after purchasing an additional 2,039,623 shares during the period. 19.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on BIRK shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Birkenstock in a report on Monday. Guggenheim upgraded shares of Birkenstock to a “strong-buy” rating in a report on Wednesday. JPMorgan Chase & Co. dropped their price objective on Birkenstock from $81.00 to $66.00 and set an “overweight” rating on the stock in a research note on Friday, September 19th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $70.00 target price on shares of Birkenstock in a research note on Friday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $68.38.

Birkenstock Price Performance

Shares of NYSE:BIRK opened at $45.51 on Friday. The firm has a market capitalization of $8.55 billion, a PE ratio of 25.28, a PEG ratio of 0.86 and a beta of 1.14. The company has a current ratio of 2.78, a quick ratio of 1.29 and a debt-to-equity ratio of 0.50. Birkenstock Holding PLC has a 1-year low of $38.16 and a 1-year high of $62.66. The business’s 50 day moving average is $41.96 and its 200-day moving average is $47.19.

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.