Cinctive Capital Management LP Purchases New Stake in Birkenstock Holding plc (NYSE:BIRK)

Cinctive Capital Management LP bought a new position in Birkenstock Holding plc (NYSE:BIRK) during the fourth quarter, Holdings Channel reports. The institutional investor bought 68,617 shares of the company’s stock, valued at approximately $3,888,000.

Several other institutional investors have also modified their holdings of the company. Headlands Technologies LLC bought a new stake in shares of Birkenstock in the 4th quarter worth $76,000. Alliancebernstein L.P. raised its stake in shares of Birkenstock by 27.2% during the 4th quarter. Alliancebernstein L.P. now owns 1,342,214 shares of the company’s stock worth $76,050,000 after purchasing an additional 286,618 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its position in Birkenstock by 9,658.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 470,182 shares of the company’s stock worth $26,641,000 after buying an additional 465,364 shares during the last quarter. Premier Fund Managers Ltd bought a new position in shares of Birkenstock in the fourth quarter valued at approximately $920,000. Finally, Norges Bank acquired a new position in shares of Birkenstock during the 4th quarter worth about $131,786,000. Institutional investors own 19.93% of the company’s stock.

Birkenstock Stock Up 1.7 %

BIRK stock opened at $47.13 on Thursday. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.84 and a quick ratio of 1.08. Birkenstock Holding plc has a fifty-two week low of $41.00 and a fifty-two week high of $64.78. The business’s fifty day moving average price is $51.21 and its two-hundred day moving average price is $51.61. The stock has a market capitalization of $8.85 billion, a price-to-earnings ratio of 38.01, a PEG ratio of 1.02 and a beta of 1.90.

Birkenstock (NYSE:BIRK) last released its earnings results on Thursday, February 20th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.03. Birkenstock had a return on equity of 9.52% and a net margin of 11.73%. The firm had revenue of $385.88 million during the quarter, compared to analysts’ expectations of $355.80 million. On average, equities analysts anticipate that Birkenstock Holding plc will post 1.77 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on BIRK shares. Robert W. Baird lifted their price objective on Birkenstock from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. UBS Group boosted their price objective on Birkenstock from $83.00 to $95.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. BMO Capital Markets lifted their price objective on shares of Birkenstock from $60.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Telsey Advisory Group reiterated an “outperform” rating and issued a $70.00 price target on shares of Birkenstock in a report on Thursday, February 20th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target 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. Two investment 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $68.31.

About Birkenstock

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.