Quantbot Technologies LP Raises Stock Holdings in Birkenstock Holding plc (NYSE:BIRK)

Quantbot Technologies LP increased its position in Birkenstock Holding plc (NYSE:BIRK) by 4.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 87,288 shares of the company’s stock after buying an additional 3,860 shares during the quarter. Quantbot Technologies LP’s holdings in Birkenstock were worth $4,302,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in shares of Birkenstock by 377.1% in the second quarter. GAMMA Investing LLC now owns 668 shares of the company’s stock worth $36,000 after buying an additional 528 shares during the period. Amalgamated Bank increased its stake in shares of Birkenstock by 51.8% in the third quarter. Amalgamated Bank now owns 2,071 shares of the company’s stock worth $102,000 after buying an additional 707 shares during the period. Acadian Asset Management LLC purchased a new position in shares of Birkenstock in the second quarter worth $136,000. MSA Advisors LLC purchased a new position in shares of Birkenstock in the second quarter worth $223,000. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Birkenstock by 59.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 6,627 shares of the company’s stock worth $327,000 after buying an additional 2,473 shares during the period. 19.93% of the stock is owned by hedge funds and other institutional investors.

Birkenstock Trading Down 1.5 %

Shares of NYSE:BIRK opened at $50.07 on Wednesday. Birkenstock Holding plc has a 12-month low of $41.00 and a 12-month high of $64.78. The company has a current ratio of 2.91, a quick ratio of 1.49 and a debt-to-equity ratio of 0.55. The company has a market cap of $9.40 billion and a PE ratio of 82.08. The stock has a 50 day moving average of $48.21 and a 200 day moving average of $52.53.

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 the consensus estimate of $0.56 by ($0.07). Birkenstock had a return on equity of 5.79% and a net margin of 6.26%. The business had revenue of $564.76 million during the quarter, compared to the consensus estimate of $628.70 million. As a group, equities research analysts expect that Birkenstock Holding plc will post 1.37 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on BIRK. BMO Capital Markets reiterated an “outperform” rating and issued a $60.00 price target on shares of Birkenstock in a report on Friday, August 30th. Evercore ISI restated an “outperform” rating and set a $77.00 target price (up previously from $63.00) on shares of Birkenstock in a report on Monday, August 26th. BTIG Research set a $60.00 target price on shares of Birkenstock and gave the company a “buy” rating in a report on Friday, October 18th. Telsey Advisory Group reiterated an “outperform” rating and issued a $70.00 price target on shares of Birkenstock in a research note on Tuesday, September 24th. Finally, 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. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Birkenstock presently has a consensus rating of “Moderate Buy” and an average price target 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.