Birkenstock Holding plc (NYSE:BIRK) Shares Acquired by Venturi Wealth Management LLC

Venturi Wealth Management LLC raised its position in Birkenstock Holding plc (NYSE:BIRK) by 58.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,670 shares of the company’s stock after buying an additional 2,470 shares during the quarter. Venturi Wealth Management LLC’s holdings in Birkenstock were worth $329,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. BNP Paribas Financial Markets purchased a new stake in shares of Birkenstock in the first quarter valued at $702,000. Capital World Investors increased its position in shares of Birkenstock by 1.0% during the first quarter. Capital World Investors now owns 1,469,369 shares of the company’s stock worth $69,428,000 after acquiring an additional 14,089 shares during the last quarter. SG Americas Securities LLC acquired a new position in Birkenstock during the 1st quarter worth $744,000. Seven Eight Capital LP bought a new position in Birkenstock during the first quarter worth $950,000. Finally, Federated Hermes Inc. grew its holdings in shares of Birkenstock by 42.0% during the second quarter. Federated Hermes Inc. now owns 1,071,235 shares of the company’s stock valued at $58,286,000 after purchasing an additional 316,935 shares during the last quarter. Institutional investors and hedge funds own 19.93% of the company’s stock.

Analyst Upgrades and Downgrades

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

Birkenstock Price Performance

BIRK opened at $45.54 on Wednesday. The stock has a market capitalization of $8.55 billion and a P/E ratio of 74.66. Birkenstock Holding plc has a 12-month low of $38.50 and a 12-month high of $64.78. The stock has a 50-day moving average price of $48.11 and a 200-day moving average price of $52.42. The company has a current ratio of 2.91, a quick ratio of 1.49 and a debt-to-equity ratio of 0.55.

Birkenstock (NYSE:BIRK) last released 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). The business had revenue of $564.76 million for the quarter, compared to the consensus estimate of $628.70 million. Birkenstock had a net margin of 6.26% and a return on equity of 5.79%. Equities analysts predict that Birkenstock Holding plc will post 1.39 earnings per share for the current fiscal year.

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.