Dark Forest Capital Management LP Purchases New Holdings in Birkenstock Holding plc (NYSE:BIRK)

Dark Forest Capital Management LP purchased a new stake in shares of Birkenstock Holding plc (NYSE:BIRK) during the 2nd quarter, Holdings Channel.com reports. The fund purchased 11,070 shares of the company’s stock, valued at approximately $602,000.

Several other hedge funds also recently added to or reduced their stakes in BIRK. GAMMA Investing LLC grew its stake in Birkenstock by 377.1% in the 2nd quarter. GAMMA Investing LLC now owns 668 shares of the company’s stock worth $36,000 after acquiring an additional 528 shares in the last quarter. Banque Cantonale Vaudoise bought a new position in Birkenstock in the 1st quarter worth about $40,000. CWM LLC grew its stake in Birkenstock by 358.2% in the 1st quarter. CWM LLC now owns 2,181 shares of the company’s stock worth $103,000 after acquiring an additional 1,705 shares in the last quarter. Acadian Asset Management LLC bought a new position in Birkenstock in the 2nd quarter worth about $136,000. Finally, MSA Advisors LLC bought a new position in Birkenstock in the 2nd quarter worth about $223,000. 19.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Stifel Nicolaus upped their target price on shares of Birkenstock from $63.00 to $70.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. The Goldman Sachs Group downgraded shares of Birkenstock from a “buy” rating to a “neutral” rating and increased their price objective for the company from $54.20 to $58.00 in a research note on Wednesday, June 12th. JPMorgan Chase & Co. increased their price objective on shares of Birkenstock from $56.00 to $64.00 and gave the company an “overweight” rating in a research note on Monday, June 3rd. BNP Paribas started coverage on shares of Birkenstock in a research note on Thursday, June 20th. They set an “outperform” rating and a $68.00 price objective on the stock. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $70.00 price objective on shares of Birkenstock in a research note on Tuesday. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $62.23.

Birkenstock Trading Down 1.2 %

NYSE:BIRK opened at $49.25 on Friday. The firm has a 50 day moving average of $54.16 and a 200 day moving average of $51.54. The stock has a market capitalization of $9.25 billion and a price-to-earnings ratio of 56.94. Birkenstock Holding plc has a 52 week low of $35.83 and a 52 week high of $64.78. 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 (NYSE:BIRK) last posted its quarterly 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 company had revenue of $564.76 million during the quarter, compared to analysts’ expectations of $628.70 million. Birkenstock had a return on equity of 5.79% and a net margin of 6.26%. As a group, sell-side analysts anticipate that Birkenstock Holding plc will post 1.37 earnings per share for the current fiscal 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.