Victory Capital Management Inc. Increases Position in Birkenstock Holding plc (NYSE:BIRK)

Victory Capital Management Inc. increased its stake in Birkenstock Holding plc (NYSE:BIRK) by 12.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 388,360 shares of the company’s stock after acquiring an additional 43,657 shares during the period. Victory Capital Management Inc. owned about 0.21% of Birkenstock worth $19,142,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in Birkenstock by 377.1% in the second quarter. GAMMA Investing LLC now owns 668 shares of the company’s stock worth $36,000 after acquiring an additional 528 shares in the last quarter. Amalgamated Bank boosted its position in Birkenstock by 51.8% during the third quarter. Amalgamated Bank now owns 2,071 shares of the company’s stock valued at $102,000 after buying an additional 707 shares during the period. Acadian Asset Management LLC purchased a new stake in Birkenstock during the second quarter valued at about $136,000. MSA Advisors LLC purchased a new stake in Birkenstock during the second quarter valued at about $223,000. Finally, Venturi Wealth Management LLC boosted its position in Birkenstock by 58.8% during the third quarter. Venturi Wealth Management LLC now owns 6,670 shares of the company’s stock valued at $329,000 after buying an additional 2,470 shares during the period. 19.93% of the stock is currently owned by hedge funds and other institutional investors.

Birkenstock Price Performance

Shares of NYSE BIRK opened at $46.46 on Tuesday. Birkenstock Holding plc has a fifty-two week low of $41.00 and a fifty-two week high of $64.78. The company has a 50 day simple moving average of $48.03 and a two-hundred day simple moving average of $52.44. The company has a market capitalization of $8.73 billion and a price-to-earnings ratio of 76.16. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.49 and a current ratio of 2.91.

Birkenstock (NYSE:BIRK) last posted its quarterly earnings results on Thursday, August 29th. The company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $628.70 million. Analysts expect that Birkenstock Holding plc will post 1.37 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have issued reports on BIRK. Telsey Advisory Group restated an “outperform” rating and set a $70.00 price target on shares of Birkenstock in a research report on Tuesday, September 24th. Stifel Nicolaus upped their price target on shares of Birkenstock from $63.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Bank of America raised shares of Birkenstock from a “neutral” rating to a “buy” rating and upped their price objective for the company from $62.00 to $65.00 in a research note on Thursday, July 25th. BMO Capital Markets reaffirmed an “outperform” rating and set a $60.00 price objective on shares of Birkenstock in a research note on Friday, August 30th. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $77.00 price objective (up from $63.00) on shares of Birkenstock in a research note on Monday, August 26th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $66.40.

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.