Seven Grand Managers LLC Buys 25,000 Shares of Birkenstock Holding plc (NYSE:BIRK)

Seven Grand Managers LLC boosted its stake in Birkenstock Holding plc (NYSE:BIRK) by 33.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 100,000 shares of the company’s stock after acquiring an additional 25,000 shares during the period. Birkenstock accounts for about 1.1% of Seven Grand Managers LLC’s holdings, making the stock its 29th biggest position. Seven Grand Managers LLC’s holdings in Birkenstock were worth $4,929,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BIRK. BNP Paribas Financial Markets bought a new stake in shares of Birkenstock in the 1st quarter worth approximately $702,000. Capital World Investors lifted its position in shares of Birkenstock by 1.0% during the 1st quarter. Capital World Investors now owns 1,469,369 shares of the company’s stock valued at $69,428,000 after buying an additional 14,089 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Birkenstock during the 1st quarter worth $744,000. Seven Eight Capital LP bought a new position in shares of Birkenstock during the 1st quarter worth $950,000. Finally, Federated Hermes Inc. increased its holdings in Birkenstock by 42.0% in the 2nd quarter. Federated Hermes Inc. now owns 1,071,235 shares of the company’s stock worth $58,286,000 after acquiring an additional 316,935 shares during the last quarter. 19.93% of the stock is currently owned by hedge funds and other institutional investors.

Birkenstock Price Performance

BIRK stock opened at $50.36 on Thursday. The firm has a market cap of $9.46 billion and a P/E ratio of 82.56. The firm’s fifty day moving average is $52.20 and its 200 day moving average is $51.80. Birkenstock Holding plc has a 52 week low of $36.50 and a 52 week high of $64.78. 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 announced its quarterly earnings data on Thursday, August 29th. The company reported $0.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.07). Birkenstock had a net margin of 6.26% and a return on equity of 5.79%. The company had revenue of $564.76 million for the quarter, compared to the consensus estimate of $628.70 million. Research analysts predict that Birkenstock Holding plc will post 1.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BIRK. Morgan Stanley increased their target price on shares of Birkenstock from $44.00 to $58.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 25th. Bank of America raised shares of Birkenstock from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $62.00 to $65.00 in a report on Thursday, July 25th. BTIG Research started coverage on shares of Birkenstock in a research report on Thursday, October 10th. They set a “buy” rating and a $60.00 price target for the company. BNP Paribas began coverage on Birkenstock in a research report on Thursday, June 20th. They issued an “outperform” rating and a $68.00 price objective on the stock. Finally, Stifel Nicolaus lifted their price objective on Birkenstock from $63.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Four analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, Birkenstock presently has an average rating of “Moderate Buy” and an average target price of $62.11.

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.