Balyasny Asset Management L.P. Acquires 2,039,623 Shares of Birkenstock Holding PLC $BIRK

Balyasny Asset Management L.P. lifted its holdings in shares of Birkenstock Holding PLC (NYSE:BIRK) by 214.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,991,187 shares of the company’s stock after buying an additional 2,039,623 shares during the quarter. Balyasny Asset Management L.P. owned about 1.59% of Birkenstock worth $147,107,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. GAMMA Investing LLC boosted its stake in Birkenstock by 34.5% in the second quarter. GAMMA Investing LLC now owns 908 shares of the company’s stock valued at $45,000 after acquiring an additional 233 shares during the last quarter. NewEdge Advisors LLC lifted its stake in shares of Birkenstock by 61.0% in the 1st quarter. NewEdge Advisors LLC now owns 1,288 shares of the company’s stock valued at $59,000 after purchasing an additional 488 shares during the period. Caitong International Asset Management Co. Ltd boosted its position 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 purchasing an additional 2,004 shares during the last quarter. Amalgamated Bank grew its stake in shares of Birkenstock by 26.8% during the second quarter. Amalgamated Bank now owns 2,632 shares of the company’s stock worth $129,000 after purchasing an additional 556 shares during the period. Finally, California State Teachers Retirement System grew its stake in shares of Birkenstock by 67.3% during the second quarter. California State Teachers Retirement System now owns 3,358 shares of the company’s stock worth $165,000 after purchasing an additional 1,351 shares during the period. 19.93% of the stock is currently owned by institutional investors and hedge funds.

Birkenstock Trading Up 1.1%

NYSE BIRK opened at $45.51 on Friday. Birkenstock Holding PLC has a one year low of $38.16 and a one year high of $62.66. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.78 and a quick ratio of 1.29. The firm has a market cap of $8.55 billion, a P/E ratio of 25.28, a P/E/G ratio of 0.86 and a beta of 1.14. The stock’s 50-day moving average is $41.96 and its 200-day moving average is $47.19.

Wall Street Analysts Forecast Growth

BIRK has been the topic of several analyst reports. Guggenheim raised Birkenstock to a “strong-buy” rating in a research note on Wednesday. JPMorgan Chase & Co. lowered their price target on Birkenstock from $81.00 to $66.00 and set an “overweight” rating for the company in a research note on Friday, September 19th. Telsey Advisory Group reissued an “outperform” rating and set a $70.00 price objective on shares of Birkenstock in a research note on Friday. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Birkenstock in a report on Monday. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $68.38.

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.