SG Americas Securities LLC Buys New Position in Birkenstock Holding PLC $BIRK

SG Americas Securities LLC purchased a new position in Birkenstock Holding PLC (NYSE:BIRK) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 6,316 shares of the company’s stock, valued at approximately $311,000.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC grew its position in shares of Birkenstock by 34.5% during the 2nd quarter. GAMMA Investing LLC now owns 908 shares of the company’s stock valued at $45,000 after acquiring an additional 233 shares during the period. Connable Office Inc. lifted its position in Birkenstock by 7.8% during the second quarter. Connable Office Inc. now owns 4,767 shares of the company’s stock valued at $234,000 after purchasing an additional 344 shares in the last quarter. NewEdge Advisors LLC grew its holdings in Birkenstock by 61.0% during the first quarter. NewEdge Advisors LLC now owns 1,288 shares of the company’s stock valued at $59,000 after purchasing an additional 488 shares during the period. Amalgamated Bank grew its holdings in Birkenstock by 26.8% during the second quarter. Amalgamated Bank now owns 2,632 shares of the company’s stock valued at $129,000 after purchasing an additional 556 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Birkenstock by 10.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 7,455 shares of the company’s stock worth $342,000 after buying an additional 681 shares in the last quarter. Hedge funds and other institutional investors own 19.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on BIRK shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Birkenstock in a research report on Tuesday. Telsey Advisory Group reaffirmed an “outperform” rating and set a $70.00 price target on shares of Birkenstock in a report on Friday, September 26th. JPMorgan Chase & Co. dropped their price target on shares of Birkenstock from $81.00 to $66.00 and set an “overweight” rating for the company in a research report on Friday, September 19th. Finally, UBS Group set a $77.00 price objective on shares of Birkenstock and gave the company a “buy” rating in a research report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $68.38.

Birkenstock Trading Down 0.4%

BIRK stock opened at $43.33 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.78 and a quick ratio of 1.29. Birkenstock Holding PLC has a 1-year low of $38.16 and a 1-year high of $62.66. The business has a 50 day simple moving average of $42.32 and a two-hundred day simple moving average of $47.93. The company has a market capitalization of $8.14 billion, a price-to-earnings ratio of 24.07, a PEG ratio of 0.83 and a beta of 1.22.

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.