Birkenstock Holding plc (NYSE:BIRK) Stake Cut by Healthcare of Ontario Pension Plan Trust Fund

Healthcare of Ontario Pension Plan Trust Fund reduced its holdings in Birkenstock Holding plc (NYSE:BIRK) by 13.3% in the 3rd quarter, Holdings Channel reports. The fund owned 2,600,000 shares of the company’s stock after selling 400,000 shares during the period. Healthcare of Ontario Pension Plan Trust Fund’s holdings in Birkenstock were worth $128,154,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of BIRK. Millennium Management LLC purchased a new stake in Birkenstock in the 2nd quarter worth about $61,972,000. FMR LLC lifted its stake in Birkenstock by 61.4% in the 3rd quarter. FMR LLC now owns 2,128,689 shares of the company’s stock worth $104,923,000 after acquiring an additional 809,784 shares in the last quarter. Ghisallo Capital Management LLC increased its position in Birkenstock by 800.0% in the 2nd quarter. Ghisallo Capital Management LLC now owns 900,000 shares of the company’s stock worth $48,969,000 after purchasing an additional 800,000 shares during the last quarter. D. E. Shaw & Co. Inc. acquired a new position in Birkenstock in the 2nd quarter worth about $25,098,000. Finally, Interval Partners LP increased its position in Birkenstock by 240.6% in the 2nd quarter. Interval Partners LP now owns 624,871 shares of the company’s stock worth $33,999,000 after purchasing an additional 441,419 shares during the last quarter. 19.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BIRK. BTIG Research set a $60.00 target price on Birkenstock and gave the stock a “buy” rating in a research report on Friday, October 18th. BMO Capital Markets reaffirmed an “outperform” rating and issued a $60.00 target price on shares of Birkenstock in a research report on Friday, August 30th. Stifel Nicolaus upped their target price on Birkenstock from $63.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $70.00 target price on shares of Birkenstock in a research report on Tuesday, September 24th. Finally, Evercore ISI reaffirmed an “outperform” rating and issued a $77.00 target price (up from $63.00) on shares of Birkenstock in a research report on Monday, August 26th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Birkenstock presently has an average rating of “Moderate Buy” and a consensus target price of $66.40.

Birkenstock Stock Performance

BIRK opened at $50.07 on Wednesday. The firm has a market capitalization of $9.40 billion and a P/E ratio of 82.08. The stock’s 50 day moving average price is $48.21 and its two-hundred day moving average price is $52.53. The company has a quick ratio of 1.49, a current ratio of 2.91 and a debt-to-equity ratio of 0.55. Birkenstock Holding plc has a 12-month low of $41.00 and a 12-month high of $64.78.

Birkenstock (NYSE:BIRK) last released its earnings results 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). The business had revenue of $564.76 million during the quarter, compared to analyst estimates of $628.70 million. Birkenstock had a net margin of 6.26% and a return on equity of 5.79%. On average, equities analysts forecast that Birkenstock Holding plc will post 1.37 earnings per share for the current 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.