Birkenstock Holding plc (NYSE:BIRK) Shares Purchased by HighTower Advisors LLC

HighTower Advisors LLC lifted its position in Birkenstock Holding plc (NYSE:BIRK) by 370.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,165 shares of the company’s stock after purchasing an additional 20,607 shares during the quarter. HighTower Advisors LLC’s holdings in Birkenstock were worth $1,289,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in shares of Birkenstock by 33.7% in the 3rd quarter. GAMMA Investing LLC now owns 893 shares of the company’s stock valued at $44,000 after purchasing an additional 225 shares during the period. MetLife Investment Management LLC boosted its position in shares of Birkenstock by 52.2% in the 3rd quarter. MetLife Investment Management LLC now owns 688 shares of the company’s stock valued at $34,000 after purchasing an additional 236 shares during the period. Amalgamated Bank boosted its position in shares of Birkenstock by 51.8% in the 3rd quarter. Amalgamated Bank now owns 2,071 shares of the company’s stock valued at $102,000 after purchasing an additional 707 shares during the period. Venturi Wealth Management LLC boosted its position in shares of Birkenstock by 58.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 6,670 shares of the company’s stock valued at $329,000 after purchasing an additional 2,470 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Birkenstock by 59.5% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 6,627 shares of the company’s stock valued at $327,000 after purchasing an additional 2,473 shares during the period. 19.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on BIRK shares. BMO Capital Markets reaffirmed an “outperform” rating and set a $60.00 price objective on shares of Birkenstock in a research report on Friday, August 30th. Piper Sandler started coverage on Birkenstock in a research report on Tuesday, December 10th. They set an “overweight” rating and a $65.00 price objective for the company. UBS Group decreased their price objective on Birkenstock from $85.00 to $83.00 and set a “buy” rating for the company in a research report on Tuesday, December 10th. Hsbc Global Res raised Birkenstock to a “strong-buy” rating in a research report on Tuesday, December 3rd. Finally, HSBC raised Birkenstock from a “hold” rating to a “buy” rating and increased their price objective for the stock from $58.00 to $60.00 in a research report on Tuesday, December 3rd. Two research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $66.13.

Birkenstock Stock Performance

NYSE BIRK opened at $55.73 on Tuesday. Birkenstock Holding plc has a 1-year low of $41.00 and a 1-year high of $64.78. The company has a market capitalization of $10.47 billion, a P/E ratio of 91.36, a PEG ratio of 1.19 and a beta of 2.22. The business has a 50 day moving average price of $49.48 and a 200 day moving average price of $53.03. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.91 and a quick ratio of 1.49.

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.