Traders Purchase Large Volume of Birkenstock Call Options (NYSE:BIRK)

Birkenstock Holding PLC (NYSE:BIRK) saw unusually large options trading on Wednesday. Stock traders purchased 8,208 call options on the stock. This is an increase of approximately 188% compared to the average daily volume of 2,846 call options.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on BIRK. BTIG Research reaffirmed a “buy” rating and issued a $72.00 price objective on shares of Birkenstock in a report on Monday. Telsey Advisory Group reiterated an “outperform” rating and issued a $70.00 price objective on shares of Birkenstock in a report on Friday, December 12th. JPMorgan Chase & Co. lowered their price objective on shares of Birkenstock from $81.00 to $66.00 and set an “overweight” rating on the stock in a research note on Friday, September 19th. Weiss Ratings restated a “hold (c-)” rating on shares of Birkenstock in a research report on Monday. Finally, Guggenheim upgraded Birkenstock to a “strong-buy” rating in a research report on Wednesday, December 10th. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $68.38.

Institutional Investors Weigh In On Birkenstock

Several large investors have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. grew its holdings in shares of Birkenstock by 10.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 7,455 shares of the company’s stock worth $342,000 after acquiring an additional 681 shares during the last quarter. Deutsche Bank AG boosted its position in shares of Birkenstock by 56.7% in the 1st quarter. Deutsche Bank AG now owns 78,876 shares of the company’s stock valued at $3,616,000 after purchasing an additional 28,533 shares during the period. Invesco Ltd. increased its stake in Birkenstock by 23.0% in the 1st quarter. Invesco Ltd. now owns 35,973 shares of the company’s stock worth $1,649,000 after purchasing an additional 6,720 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its holdings in Birkenstock by 25.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,167,145 shares of the company’s stock worth $236,914,000 after buying an additional 1,042,891 shares during the period. Finally, APG Asset Management N.V. lifted its stake in Birkenstock by 5.4% during the first quarter. APG Asset Management N.V. now owns 33,000 shares of the company’s stock valued at $1,401,000 after buying an additional 1,700 shares in the last quarter. 19.93% of the stock is owned by institutional investors.

Birkenstock Stock Down 1.9%

BIRK stock opened at $46.39 on Thursday. The firm has a market cap of $8.71 billion, a PE ratio of 25.77, a P/E/G ratio of 0.90 and a beta of 1.14. Birkenstock has a 12 month low of $38.16 and a 12 month 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 50 day simple moving average of $42.07 and a 200 day simple moving average of $46.98.

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.