MSA Advisors LLC Takes $223,000 Position in Birkenstock Holding plc (NYSE:BIRK)

MSA Advisors LLC purchased a new stake in shares of Birkenstock Holding plc (NYSE:BIRK) during the 2nd quarter, Holdings Channel reports. The fund purchased 4,100 shares of the company’s stock, valued at approximately $223,000. Birkenstock comprises 0.1% of MSA Advisors LLC’s investment portfolio, making the stock its 25th biggest position.

Several other large investors have also made changes to their positions in BIRK. Amalgamated Bank acquired a new position in Birkenstock in the fourth quarter valued at about $233,000. Norges Bank acquired a new position in Birkenstock in the fourth quarter valued at about $177,068,000. Connable Office Inc. acquired a new position in Birkenstock in the fourth quarter valued at about $216,000. Weiss Asset Management LP acquired a new position in Birkenstock in the fourth quarter valued at about $2,924,000. Finally, Treasurer of the State of North Carolina acquired a new position in Birkenstock in the fourth quarter valued at about $643,000. Institutional investors and hedge funds own 19.93% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BIRK. BMO Capital Markets reissued an “outperform” rating and issued a $60.00 target price on shares of Birkenstock in a research note on Friday, August 30th. Citigroup started coverage on Birkenstock in a report on Monday, July 1st. They issued a “buy” rating and a $65.00 price target for the company. JPMorgan Chase & Co. increased their price target on Birkenstock from $56.00 to $64.00 and gave the stock an “overweight” rating in a report on Monday, June 3rd. BNP Paribas started coverage on Birkenstock in a report on Thursday, June 20th. They issued an “outperform” rating and a $68.00 price target for the company. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $70.00 price target on shares of Birkenstock in a report on Thursday, August 29th. Four investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat.com, Birkenstock currently has a consensus rating of “Moderate Buy” and a consensus price target of $62.23.

Birkenstock Stock Performance

Shares of NYSE BIRK opened at $48.24 on Tuesday. The stock has a 50 day moving average price of $55.23 and a 200 day moving average price of $51.55. Birkenstock Holding plc has a 52 week low of $35.83 and a 52 week high of $64.78. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.49 and a current ratio of 2.91. The stock has a market capitalization of $9.06 billion and a PE ratio of 55.27.

Birkenstock (NYSE:BIRK) last issued its quarterly earnings results on Thursday, August 29th. The company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.56 by ($0.07). Birkenstock had a net margin of 6.26% and a return on equity of 5.79%. The company had revenue of $564.76 million for the quarter, compared to analyst estimates of $628.70 million. Analysts predict that Birkenstock Holding plc will post 1.37 earnings per share for the current fiscal year.

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.