450,357 Shares in Birkenstock Holding PLC $BIRK Acquired by Hook Mill Capital Partners LP

Hook Mill Capital Partners LP purchased a new stake in Birkenstock Holding PLC (NYSE:BIRK) during the second quarter, Holdings Channel reports. The firm purchased 450,357 shares of the company’s stock, valued at approximately $22,149,000. Birkenstock comprises 2.2% of Hook Mill Capital Partners LP’s portfolio, making the stock its 20th biggest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC increased its position in shares of Birkenstock by 34.5% during the 2nd quarter. GAMMA Investing LLC now owns 908 shares of the company’s stock worth $45,000 after purchasing an additional 233 shares in the last quarter. NewEdge Advisors LLC raised its stake in shares of Birkenstock by 61.0% in the first quarter. NewEdge Advisors LLC now owns 1,288 shares of the company’s stock valued at $59,000 after acquiring an additional 488 shares during the last quarter. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Birkenstock by 3,131.3% in the 2nd quarter. Caitong International Asset Management Co. Ltd now owns 2,068 shares of the company’s stock worth $102,000 after acquiring an additional 2,004 shares in the last quarter. Amalgamated Bank grew its position in Birkenstock by 26.8% during the 2nd quarter. Amalgamated Bank now owns 2,632 shares of the company’s stock worth $129,000 after acquiring an additional 556 shares during the last quarter. Finally, California State Teachers Retirement System increased its holdings in Birkenstock by 67.3% during the 2nd quarter. California State Teachers Retirement System now owns 3,358 shares of the company’s stock valued at $165,000 after purchasing an additional 1,351 shares in the last quarter. 19.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on BIRK shares. JPMorgan Chase & Co. lowered their target price on Birkenstock from $81.00 to $66.00 and set an “overweight” rating for the company in a research note on Friday, September 19th. Guggenheim upgraded shares of Birkenstock to a “strong-buy” rating in a research report on Wednesday. Telsey Advisory Group reissued an “outperform” rating and issued a $70.00 price target on shares of Birkenstock in a report on Friday. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Birkenstock in a report on Monday. One investment 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, Birkenstock has an average rating of “Buy” and an average target price of $68.38.

Birkenstock Trading Up 1.1%

NYSE BIRK opened at $45.51 on Friday. The company has a current ratio of 2.78, a quick ratio of 1.29 and a debt-to-equity ratio of 0.50. Birkenstock Holding PLC has a 12 month low of $38.16 and a 12 month high of $62.66. The company has a market capitalization of $8.55 billion, a PE ratio of 25.28, a P/E/G ratio of 0.86 and a beta of 1.14. The stock has a 50-day simple moving average of $41.96 and a 200 day simple moving average of $47.19.

About Birkenstock

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.