Birkenstock Holding plc (NYSE:BIRK) Shares Sold by Bank of America Corp DE

Bank of America Corp DE cut its holdings in shares of Birkenstock Holding plc (NYSE:BIRK) by 61.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 342,870 shares of the company’s stock after selling 555,662 shares during the period. Bank of America Corp DE owned 0.18% of Birkenstock worth $19,427,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Signaturefd LLC increased its position in shares of Birkenstock by 642.6% during the fourth quarter. Signaturefd LLC now owns 505 shares of the company’s stock worth $29,000 after purchasing an additional 437 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Birkenstock during the fourth quarter worth $34,000. NewEdge Advisors LLC acquired a new position in shares of Birkenstock during the fourth quarter worth $45,000. Quarry LP increased its position in shares of Birkenstock by 120.3% during the fourth quarter. Quarry LP now owns 1,097 shares of the company’s stock worth $62,000 after purchasing an additional 599 shares in the last quarter. Finally, Headlands Technologies LLC acquired a new position in shares of Birkenstock during the fourth quarter worth $76,000. 19.93% of the stock is owned by institutional investors and hedge funds.

Birkenstock Trading Down 1.1%

BIRK stock opened at $56.07 on Tuesday. The company’s 50-day simple moving average is $48.51 and its 200-day simple moving average is $51.79. The company has a quick ratio of 1.08, a current ratio of 2.84 and a debt-to-equity ratio of 0.48. Birkenstock Holding plc has a 52-week low of $40.56 and a 52-week high of $64.78. The firm has a market cap of $10.53 billion, a P/E ratio of 45.22, a PEG ratio of 1.02 and a beta of 1.56.

Birkenstock (NYSE:BIRK) last posted its earnings results on Thursday, May 15th. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.01. Birkenstock had a net margin of 11.73% and a return on equity of 9.52%. The business had revenue of $623.54 million for the quarter, compared to analyst estimates of $567.84 million. During the same period in the prior year, the company posted $0.38 EPS. The company’s revenue for the quarter was up 19.3% on a year-over-year basis. As a group, equities analysts forecast that Birkenstock Holding plc will post 1.77 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Telsey Advisory Group reissued an “outperform” rating and issued a $70.00 target price on shares of Birkenstock in a research report on Thursday, May 15th. UBS Group upped their target price on Birkenstock from $72.00 to $76.00 and gave the company a “buy” rating in a research report on Friday. Robert W. Baird upped their target price on Birkenstock from $65.00 to $70.00 and gave the company an “outperform” rating in a research report on Friday. Bank of America upped their target price on Birkenstock from $70.00 to $73.00 and gave the company a “buy” rating in a research report on Friday. Finally, Piper Sandler cut their target price on Birkenstock from $70.00 to $60.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $67.19.

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.