True Vision MN LLC Takes Position in Birkenstock Holding plc (NYSE:BIRK)

True Vision MN LLC purchased a new stake in shares of Birkenstock Holding plc (NYSE:BIRK) during the fourth quarter, Holdings Channel reports. The fund purchased 8,858 shares of the company’s stock, valued at approximately $502,000.

Several other institutional investors have also recently added to or reduced their stakes in BIRK. Quarry LP purchased a new stake in Birkenstock during the third quarter worth about $25,000. MetLife Investment Management LLC grew its holdings in Birkenstock by 52.2% during the 3rd quarter. MetLife Investment Management LLC now owns 688 shares of the company’s stock valued at $34,000 after buying an additional 236 shares in the last quarter. GAMMA Investing LLC lifted its stake in Birkenstock by 33.7% in the 3rd quarter. GAMMA Investing LLC now owns 893 shares of the company’s stock worth $44,000 after purchasing an additional 225 shares in the last quarter. Amalgamated Bank boosted its stake 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. Finally, R Squared Ltd bought a new position in shares of Birkenstock in the fourth quarter worth approximately $143,000. 19.93% of the stock is owned by institutional investors and hedge funds.

Birkenstock Price Performance

Shares of Birkenstock stock opened at $56.57 on Tuesday. The business has a 50-day moving average price of $57.29 and a 200 day moving average price of $53.35. Birkenstock Holding plc has a twelve month low of $41.00 and a twelve month high of $64.78. The firm has a market cap of $10.62 billion, a PE ratio of 52.38, a P/E/G ratio of 1.13 and a beta of 1.61. The company has a quick ratio of 1.20, a current ratio of 2.60 and a debt-to-equity ratio of 0.50.

Wall Street Analyst Weigh In

BIRK has been the topic of several research reports. BTIG Research lifted their price target on shares of Birkenstock from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Piper Sandler started coverage on shares of Birkenstock in a research report on Tuesday, December 10th. They set an “overweight” rating and a $65.00 price objective on the stock. BMO Capital Markets lifted their price target on Birkenstock from $60.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Birkenstock from $65.00 to $66.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Finally, HSBC upgraded shares of Birkenstock from a “hold” rating to a “buy” rating and raised their price objective for the company from $58.00 to $60.00 in a research note on Tuesday, December 3rd. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $68.31.

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.