Amalgamated Bank Buys 707 Shares of Birkenstock Holding plc (NYSE:BIRK)

Amalgamated Bank increased its holdings in Birkenstock Holding plc (NYSE:BIRK) by 51.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,071 shares of the company’s stock after purchasing an additional 707 shares during the quarter. Amalgamated Bank’s holdings in Birkenstock were worth $102,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets purchased a new position in shares of Birkenstock in the first quarter valued at about $702,000. Seven Eight Capital LP bought a new stake in Birkenstock during the first quarter worth about $950,000. Capital World Investors lifted its stake in shares of Birkenstock by 1.0% in the first quarter. Capital World Investors now owns 1,469,369 shares of the company’s stock worth $69,428,000 after buying an additional 14,089 shares in the last quarter. Lazard Asset Management LLC bought a new position in shares of Birkenstock in the first quarter worth approximately $571,000. Finally, Bamco Inc. NY lifted its stake in shares of Birkenstock by 1.4% in the first quarter. Bamco Inc. NY now owns 2,974,458 shares of the company’s stock worth $140,543,000 after buying an additional 40,457 shares in the last quarter. Hedge funds and other institutional investors own 19.93% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on BIRK shares. BMO Capital Markets restated an “outperform” rating and set a $60.00 price objective on shares of Birkenstock in a research report on Friday, August 30th. Telsey Advisory Group restated an “outperform” rating and set a $70.00 price objective on shares of Birkenstock in a research report on Tuesday, September 24th. Stifel Nicolaus increased their price objective on shares of Birkenstock from $63.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. Bank of America upgraded shares of Birkenstock from a “neutral” rating to a “buy” rating and increased their price objective for the company from $62.00 to $65.00 in a research report on Thursday, July 25th. Finally, Evercore ISI reaffirmed an “outperform” rating and set a $77.00 target price (up from $63.00) on shares of Birkenstock in a report on Monday, August 26th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $66.40.

Birkenstock Stock Up 1.8 %

BIRK stock opened at $45.58 on Monday. The firm’s fifty day simple moving average is $47.99 and its 200-day simple moving average is $52.43. The company has a market capitalization of $8.56 billion and a P/E ratio of 74.72. 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 Holding plc has a 12 month low of $41.00 and a 12 month high of $64.78.

Birkenstock (NYSE:BIRK) last posted its quarterly earnings data on Thursday, August 29th. The company reported $0.49 earnings per share for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.07). The company had revenue of $564.76 million for the quarter, compared to analyst estimates of $628.70 million. Birkenstock had a return on equity of 5.79% and a net margin of 6.26%. As a group, equities research 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.