Migdal Insurance & Financial Holdings Ltd. Buys New Position in Birkenstock Holding PLC (NYSE:BIRK)

Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of Birkenstock Holding PLC (NYSE:BIRK) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 210,000 shares of the company’s stock, valued at approximately $9,629,000. Migdal Insurance & Financial Holdings Ltd. owned approximately 0.11% of Birkenstock as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Signaturefd LLC grew its position in shares of Birkenstock by 66.5% in the 1st quarter. Signaturefd LLC now owns 841 shares of the company’s stock worth $39,000 after acquiring an additional 336 shares in the last quarter. Legal & General Group Plc boosted its position in Birkenstock by 12.3% during the 4th quarter. Legal & General Group Plc now owns 3,158 shares of the company’s stock valued at $179,000 after purchasing an additional 347 shares during the period. Malaga Cove Capital LLC boosted its position in Birkenstock by 3.5% during the 4th quarter. Malaga Cove Capital LLC now owns 12,108 shares of the company’s stock valued at $686,000 after purchasing an additional 407 shares during the period. Quarry LP boosted its position in Birkenstock by 120.3% during the 4th quarter. Quarry LP now owns 1,097 shares of the company’s stock valued at $62,000 after purchasing an additional 599 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its position in Birkenstock by 4.9% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 14,778 shares of the company’s stock valued at $837,000 after purchasing an additional 688 shares during the period. 19.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Evercore ISI upped their price objective on Birkenstock from $65.00 to $70.00 and gave the company an “outperform” rating in a report on Monday, May 19th. BMO Capital Markets raised their price target on shares of Birkenstock from $70.00 to $75.00 and gave the stock an “outperform” rating in a report on Friday, May 16th. Bank of America increased their price objective on Birkenstock from $70.00 to $73.00 and gave the company a “buy” rating in a report on Friday, May 16th. BTIG Research raised their price objective on Birkenstock from $70.00 to $72.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Finally, Piper Sandler dropped their target price on Birkenstock from $70.00 to $60.00 and set an “overweight” rating for the company in a report on Friday, April 11th. Twelve analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Birkenstock presently has a consensus rating of “Buy” and a consensus target price of $69.27.

Birkenstock Trading Up 0.2%

Shares of BIRK stock traded up $0.12 during mid-day trading on Friday, hitting $49.75. The company’s stock had a trading volume of 21,550 shares, compared to its average volume of 1,623,925. Birkenstock Holding PLC has a 52 week low of $40.56 and a 52 week high of $64.78. The company has a market cap of $9.34 billion, a PE ratio of 34.99, a P/E/G ratio of 1.06 and a beta of 1.31. The company’s fifty day simple moving average is $52.23 and its 200-day simple moving average is $51.77. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.34 and a current ratio of 3.06.

Birkenstock (NYSE:BIRK) last posted its quarterly earnings results on Thursday, May 15th. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.01. The company had revenue of $623.54 million for the quarter, compared to analysts’ expectations of $567.84 million. Birkenstock had a net margin of 12.86% and a return on equity of 10.22%. Birkenstock’s revenue was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.38 EPS. As a group, equities research analysts expect that Birkenstock Holding PLC will post 1.77 earnings per share for the current fiscal year.

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.