Broad Bay Capital Management LP Has $31.11 Million Stake in Birkenstock Holding plc (NYSE:BIRK)

Broad Bay Capital Management LP lessened its holdings in Birkenstock Holding plc (NYSE:BIRK - Free Report) by 5.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 549,062 shares of the company's stock after selling 32,750 shares during the period. Birkenstock comprises 3.8% of Broad Bay Capital Management LP's investment portfolio, making the stock its 7th biggest holding. Broad Bay Capital Management LP owned 0.29% of Birkenstock worth $31,110,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in BIRK. Signaturefd LLC grew its stake in shares of Birkenstock by 642.6% in the 4th quarter. Signaturefd LLC now owns 505 shares of the company's stock worth $29,000 after acquiring an additional 437 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new stake in Birkenstock in the 4th quarter worth about $34,000. NewEdge Advisors LLC purchased a new stake in Birkenstock in the 4th quarter valued at about $45,000. Quarry LP lifted its position in shares of Birkenstock by 120.3% during the 4th quarter. Quarry LP now owns 1,097 shares of the company's stock worth $62,000 after buying an additional 599 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new position in shares of Birkenstock in the 4th quarter worth approximately $76,000. Institutional investors own 19.93% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on BIRK. Telsey Advisory Group reaffirmed an "outperform" rating and set a $70.00 price target on shares of Birkenstock in a research report on Friday. Stifel Nicolaus lowered their target price on Birkenstock from $70.00 to $62.00 and set a "buy" rating on the stock in a research note on Thursday, April 10th. Piper Sandler reduced their price target on shares of Birkenstock from $70.00 to $60.00 and set an "overweight" rating for the company in a research report on Friday, April 11th. Finally, UBS Group raised their price objective on shares of Birkenstock from $68.00 to $72.00 and gave the stock a "buy" rating in a report on Monday. Two equities research 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 stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $66.06.

Birkenstock Stock Performance

Shares of Birkenstock stock traded up $0.17 during trading hours on Friday, reaching $52.64. The company had a trading volume of 1,687,777 shares, compared to its average volume of 1,411,941. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.84 and a quick ratio of 1.08. Birkenstock Holding plc has a one year low of $40.56 and a one year high of $64.78. The firm has a market cap of $9.89 billion, a PE ratio of 42.45, a price-to-earnings-growth ratio of 1.02 and a beta of 1.56. The business has a fifty day simple moving average of $47.26 and a 200 day simple moving average of $51.42.

Birkenstock (NYSE:BIRK - Get Free Report) last issued its earnings results on Thursday, February 20th. The company reported $0.19 EPS for the quarter, topping the consensus estimate of $0.16 by $0.03. Birkenstock had a return on equity of 9.52% and a net margin of 11.73%. The business had revenue of $385.88 million during the quarter, compared to the consensus estimate of $355.80 million. On average, analysts anticipate that Birkenstock Holding plc will post 1.77 earnings per share for the current fiscal year.

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.