Birkenstock Sees Unusually High Options Volume (NYSE:BIRK)

Birkenstock Holding plc (NYSE:BIRK) was the target of unusually large options trading activity on Wednesday. Stock traders acquired 2,895 call options on the stock. This is an increase of 47% compared to the average volume of 1,973 call options.

Hedge Funds Weigh In On Birkenstock

A number of institutional investors and hedge funds have recently bought and sold shares of BIRK. Quarry LP acquired a new stake in Birkenstock during the third quarter worth about $25,000. MetLife Investment Management LLC increased its position in shares of Birkenstock by 52.2% during the third quarter. MetLife Investment Management LLC now owns 688 shares of the company’s stock valued at $34,000 after purchasing an additional 236 shares during the period. GAMMA Investing LLC raised its stake in shares of Birkenstock by 33.7% in the third quarter. GAMMA Investing LLC now owns 893 shares of the company’s stock valued at $44,000 after purchasing an additional 225 shares in the last quarter. Amalgamated Bank lifted its position in Birkenstock by 51.8% in the third quarter. Amalgamated Bank now owns 2,071 shares of the company’s stock worth $102,000 after purchasing an additional 707 shares during the period. Finally, Acadian Asset Management LLC acquired a new stake in Birkenstock during the second quarter worth $136,000. Institutional investors own 19.93% of the company’s stock.

Birkenstock Stock Performance

BIRK traded up $3.52 during midday trading on Wednesday, reaching $59.58. The company’s stock had a trading volume of 1,670,112 shares, compared to its average volume of 1,035,473. Birkenstock has a twelve month low of $41.00 and a twelve month high of $64.78. The stock has a market cap of $11.19 billion, a P/E ratio of 98.67, a PEG ratio of 1.19 and a beta of 2.22. The company has a fifty day simple moving average of $49.65 and a 200 day simple moving average of $53.02. The company has a current ratio of 2.91, a quick ratio of 1.49 and a debt-to-equity ratio of 0.55.

Analyst Ratings Changes

A number of research firms have recently issued reports on BIRK. Stifel Nicolaus increased their price target on shares of Birkenstock from $63.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Birkenstock from $69.00 to $65.00 and set a “neutral” rating for the company in a research note on Wednesday. Evercore ISI restated an “outperform” rating and set a $77.00 price target (up from $63.00) on shares of Birkenstock in a report on Monday, August 26th. BMO Capital Markets reiterated an “outperform” rating and set a $60.00 price objective on shares of Birkenstock in a report on Friday, August 30th. Finally, Telsey Advisory Group restated an “outperform” rating and issued a $70.00 target price on shares of Birkenstock in a research note on Friday, December 13th. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $65.81.

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.