Point72 Asset Management L.P. Purchases 215,775 Shares of Birkenstock Holding plc (NYSE:BIRK)

Point72 Asset Management L.P. lifted its position in shares of Birkenstock Holding plc (NYSE:BIRK) by 142.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 367,675 shares of the company’s stock after acquiring an additional 215,775 shares during the quarter. Point72 Asset Management L.P. owned approximately 0.20% of Birkenstock worth $20,005,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Scientech Research LLC bought a new stake in shares of Birkenstock during the second quarter worth $774,000. Millennium Management LLC bought a new stake in Birkenstock in the second quarter valued at about $61,972,000. D. E. Shaw & Co. Inc. bought a new stake in Birkenstock in the second quarter valued at about $25,098,000. Dark Forest Capital Management LP bought a new stake in Birkenstock in the second quarter valued at about $602,000. Finally, Alpha DNA Investment Management LLC bought a new stake in Birkenstock in the second quarter valued at about $365,000. Institutional investors own 19.93% of the company’s stock.

Birkenstock Stock Down 1.2 %

Shares of Birkenstock stock opened at $49.25 on Monday. The business’s 50 day simple moving average is $54.16 and its 200 day simple moving average is $51.61. Birkenstock Holding plc has a 52-week low of $35.83 and a 52-week high of $64.78. The firm has a market cap of $9.25 billion and a PE ratio of 59.32. 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 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.07). The company had revenue of $564.76 million during 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%. On average, analysts predict that Birkenstock Holding plc will post 1.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on BIRK shares. Morgan Stanley upped their price objective on Birkenstock from $44.00 to $58.00 and gave the company an “equal weight” rating in a report on Tuesday, June 25th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $70.00 price objective on shares of Birkenstock in a report on Thursday, June 13th. Bank of America upgraded 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 report on Thursday, July 25th. BMO Capital Markets restated an “outperform” rating and issued a $60.00 price target on shares of Birkenstock in a report on Friday, August 30th. Finally, Evercore ISI restated an “outperform” rating and issued a $77.00 price target (up from $63.00) on shares of Birkenstock in a report on Monday, August 26th. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $62.23.

Birkenstock Company 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.