Durable Capital Partners LP Sells 988,008 Shares of Birkenstock Holding plc (NYSE:BIRK)

Durable Capital Partners LP lessened its stake in shares of Birkenstock Holding plc (NYSE:BIRK - Free Report) by 33.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,962,084 shares of the company's stock after selling 988,008 shares during the quarter. Durable Capital Partners LP owned about 1.04% of Birkenstock worth $111,172,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in BIRK. Norges Bank acquired a new position in Birkenstock during the 4th quarter valued at about $131,786,000. Marshall Wace LLP boosted its position in shares of Birkenstock by 260.5% during the fourth quarter. Marshall Wace LLP now owns 1,100,692 shares of the company's stock valued at $62,365,000 after buying an additional 795,382 shares during the last quarter. AGF Management Ltd. bought a new stake in Birkenstock during the fourth quarter worth $37,153,000. AXA S.A. bought a new position in Birkenstock during the 4th quarter valued at $29,050,000. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Birkenstock by 9,658.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 470,182 shares of the company's stock valued at $26,641,000 after acquiring an additional 465,364 shares in the last quarter. 19.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on BIRK. Stifel Nicolaus dropped their price target on shares of Birkenstock from $70.00 to $62.00 and set a "buy" rating on the stock in a research report on Thursday, April 10th. UBS Group upped their target price on Birkenstock from $68.00 to $72.00 and gave the company a "buy" rating in a report on Monday. Piper Sandler dropped their price target on Birkenstock from $70.00 to $60.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. Finally, Telsey Advisory Group restated an "outperform" rating and issued a $70.00 price objective on shares of Birkenstock in a research note on Friday. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $66.06.

Birkenstock Stock Performance

Birkenstock stock traded up $0.17 during mid-day trading on Friday, reaching $52.64. The company's stock had a trading volume of 1,687,777 shares, compared to its average volume of 1,415,779. The company has a market capitalization of $9.89 billion, a P/E ratio of 42.45, a PEG ratio of 1.02 and a beta of 1.56. The firm's fifty day moving average price is $47.37 and its two-hundred day moving average price is $51.43. Birkenstock Holding plc has a 12-month low of $40.56 and a 12-month high of $64.78. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.08 and a current ratio of 2.84.

Birkenstock (NYSE:BIRK - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The company reported $0.19 earnings per share for the quarter, beating 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 company had revenue of $385.88 million during the quarter, compared to analysts' expectations of $355.80 million. Sell-side analysts predict that Birkenstock Holding plc will post 1.77 EPS for the current fiscal year.

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.