Seven Eight Capital LP Makes New $950,000 Investment in Birkenstock Holding plc (NYSE:BIRK)

Seven Eight Capital LP purchased a new position in Birkenstock Holding plc (NYSE:BIRK) during the 1st quarter, HoldingsChannel reports. The firm purchased 20,110 shares of the company’s stock, valued at approximately $950,000.

Several other institutional investors also recently added to or reduced their stakes in BIRK. Banque Cantonale Vaudoise bought a new stake in shares of Birkenstock during the first quarter valued at approximately $40,000. Tower Research Capital LLC TRC bought a new stake in shares of Birkenstock during the fourth quarter valued at approximately $77,000. Venturi Wealth Management LLC bought a new stake in shares of Birkenstock during the fourth quarter valued at approximately $83,000. CWM LLC increased its position in shares of Birkenstock by 358.2% during the first quarter. CWM LLC now owns 2,181 shares of the company’s stock valued at $103,000 after purchasing an additional 1,705 shares during the period. Finally, Connable Office Inc. bought a new stake in shares of Birkenstock during the fourth quarter valued at approximately $216,000. 19.93% of the stock is owned by institutional investors.

Birkenstock Stock Performance

Birkenstock stock traded up $0.28 on Tuesday, reaching $55.55. The company’s stock had a trading volume of 943,399 shares, compared to its average volume of 878,511. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.87 and a quick ratio of 1.13. The business’s fifty day moving average price is $55.01 and its 200 day moving average price is $49.60. Birkenstock Holding plc has a twelve month low of $35.83 and a twelve month high of $61.83.

Birkenstock (NYSE:BIRK) last issued its quarterly earnings results on Thursday, May 30th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.09. The firm had revenue of $522.51 million for the quarter, compared to analyst estimates of $499.98 million. As a group, equities research analysts forecast that Birkenstock Holding plc will post 1.36 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on BIRK shares. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $70.00 price objective on shares of Birkenstock in a research report on Thursday, June 13th. BMO Capital Markets boosted their price objective on Birkenstock from $54.00 to $60.00 and gave the company an “outperform” rating in a research report on Friday, May 31st. UBS Group upgraded Birkenstock from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $52.00 to $85.00 in a research report on Monday, July 1st. Citigroup initiated coverage on Birkenstock in a research note on Monday, July 1st. They issued a “buy” rating and a $65.00 price target on the stock. Finally, Morgan Stanley boosted their price target on Birkenstock from $44.00 to $58.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 25th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Birkenstock presently has a consensus rating of “Moderate Buy” and a consensus target price of $60.12.

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.