Envestnet Asset Management Inc. Acquires Shares of 10,896 Birkenstock Holding PLC $BIRK

Envestnet Asset Management Inc. acquired a new position in shares of Birkenstock Holding PLC (NYSE:BIRK) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 10,896 shares of the company’s stock, valued at approximately $536,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in Birkenstock by 34.5% during the second quarter. GAMMA Investing LLC now owns 908 shares of the company’s stock worth $45,000 after purchasing an additional 233 shares during the last quarter. NewEdge Advisors LLC lifted its position in shares of Birkenstock by 61.0% during the 1st quarter. NewEdge Advisors LLC now owns 1,288 shares of the company’s stock worth $59,000 after buying an additional 488 shares in the last quarter. Caitong International Asset Management Co. Ltd boosted its stake in shares of Birkenstock by 3,131.3% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 2,068 shares of the company’s stock worth $102,000 after buying an additional 2,004 shares during the last quarter. CWM LLC grew its holdings in shares of Birkenstock by 34.8% in the first quarter. CWM LLC now owns 3,133 shares of the company’s stock valued at $144,000 after acquiring an additional 809 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of Birkenstock during the first quarter valued at approximately $205,000. Hedge funds and other institutional investors own 19.93% of the company’s stock.

Birkenstock Price Performance

BIRK opened at $40.75 on Tuesday. The company has a market capitalization of $7.65 billion, a price-to-earnings ratio of 22.64, a PEG ratio of 0.78 and a beta of 1.22. The company has a quick ratio of 1.29, a current ratio of 2.78 and a debt-to-equity ratio of 0.50. The firm has a 50-day moving average price of $42.55 and a 200-day moving average price of $48.18. Birkenstock Holding PLC has a twelve month low of $38.16 and a twelve month high of $62.66.

Wall Street Analyst Weigh In

Several research analysts have weighed in on BIRK shares. Weiss Ratings reissued a “hold (c-)” rating on shares of Birkenstock in a research report on Wednesday, November 19th. JPMorgan Chase & Co. cut their price target on shares of Birkenstock from $81.00 to $66.00 and set an “overweight” rating on the stock in a report on Friday, September 19th. UBS Group set a $77.00 price target on shares of Birkenstock and gave the company a “buy” rating in a research report on Tuesday, August 5th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $70.00 price objective on shares of Birkenstock in a research report on Friday, September 26th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $68.38.

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.