Y Intercept Hong Kong Ltd Raises Stake in Birkenstock Holding plc (NYSE:BIRK)

Y Intercept Hong Kong Ltd boosted its holdings in Birkenstock Holding plc (NYSE:BIRK) by 313.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 20,028 shares of the company’s stock after buying an additional 15,189 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Birkenstock were worth $987,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BIRK. Millennium Management LLC purchased a new position in shares of Birkenstock in the 2nd quarter valued at $61,972,000. FMR LLC raised its position in Birkenstock by 61.4% in the third quarter. FMR LLC now owns 2,128,689 shares of the company’s stock valued at $104,923,000 after purchasing an additional 809,784 shares during the period. Ghisallo Capital Management LLC lifted its stake in shares of Birkenstock by 800.0% during the second quarter. Ghisallo Capital Management LLC now owns 900,000 shares of the company’s stock worth $48,969,000 after purchasing an additional 800,000 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Birkenstock by 30.4% in the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,000,000 shares of the company’s stock worth $163,230,000 after buying an additional 700,000 shares during the period. Finally, D. E. Shaw & Co. Inc. acquired a new stake in shares of Birkenstock in the second quarter valued at about $25,098,000. 19.93% of the stock is owned by institutional investors and hedge funds.

Birkenstock Stock Performance

BIRK stock opened at $53.59 on Friday. The company has a 50-day simple moving average of $49.19 and a 200 day simple moving average of $52.93. The company has a market capitalization of $10.07 billion, a P/E ratio of 87.85, a PEG ratio of 1.16 and a beta of 2.22. The company has a quick ratio of 1.49, a current ratio of 2.91 and a debt-to-equity ratio of 0.55. Birkenstock Holding plc has a fifty-two week low of $41.00 and a fifty-two week high of $64.78.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on BIRK. HSBC raised shares of Birkenstock from a “hold” rating to a “buy” rating and upped their price target for the company from $58.00 to $60.00 in a report on Tuesday, December 3rd. Hsbc Global Res upgraded Birkenstock to a “strong-buy” rating in a research note on Tuesday, December 3rd. Telsey Advisory Group reiterated an “outperform” rating and set a $70.00 price target on shares of Birkenstock in a research report on Tuesday, September 24th. Evercore ISI restated an “outperform” rating and set a $77.00 price objective (up previously from $63.00) on shares of Birkenstock in a research report on Monday, August 26th. Finally, Stifel Nicolaus increased their target price on Birkenstock from $63.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $66.13.

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.