Venturi Wealth Management LLC Grows Holdings in Birkenstock Holding plc (NYSE:BIRK)

Venturi Wealth Management LLC boosted its holdings in Birkenstock Holding plc (NYSE:BIRK) by 9.3% in the 4th quarter, Holdings Channel reports. The firm owned 7,292 shares of the company’s stock after purchasing an additional 622 shares during the period. Venturi Wealth Management LLC’s holdings in Birkenstock were worth $413,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Quarry LP purchased a new position in Birkenstock during the 3rd quarter worth $25,000. MetLife Investment Management LLC raised its position in Birkenstock by 52.2% during the 3rd quarter. MetLife Investment Management LLC now owns 688 shares of the company’s stock worth $34,000 after buying an additional 236 shares during the last quarter. Amalgamated Bank raised its position in Birkenstock by 51.8% during the 3rd quarter. Amalgamated Bank now owns 2,071 shares of the company’s stock worth $102,000 after buying an additional 707 shares during the last quarter. R Squared Ltd purchased a new position in Birkenstock during the 4th quarter worth $143,000. Finally, Point72 DIFC Ltd purchased a new position in Birkenstock during the 3rd quarter worth $299,000. Hedge funds and other institutional investors own 19.93% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on BIRK. Hsbc Global Res upgraded shares of Birkenstock to a “strong-buy” rating in a research report on Tuesday, December 3rd. Robert W. Baird upped their price objective on shares of Birkenstock from $65.00 to $72.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. HSBC upgraded shares of Birkenstock from a “hold” rating to a “buy” rating and upped their price objective for the stock from $58.00 to $60.00 in a research report on Tuesday, December 3rd. BTIG Research upped their price target on shares of Birkenstock from $60.00 to $70.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Finally, BMO Capital Markets upped their price target on shares of Birkenstock from $60.00 to $70.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Birkenstock currently has an average rating of “Moderate Buy” and an average target price of $68.31.

Birkenstock Price Performance

Shares of NYSE BIRK opened at $54.94 on Thursday. The stock has a market cap of $10.32 billion, a price-to-earnings ratio of 50.87, a PEG ratio of 1.10 and a beta of 1.61. Birkenstock Holding plc has a 52 week low of $41.00 and a 52 week high of $64.78. The company’s 50-day moving average price is $57.59 and its 200 day moving average price is $53.26. The company has a current ratio of 2.60, a quick ratio of 1.20 and a debt-to-equity ratio of 0.50.

Birkenstock Company 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.