Nuveen LLC Takes Position in Birkenstock Holding PLC $BIRK

Key Points

• Nuveen LLC acquired over 1.14 million shares of Birkenstock Holding PLC valued at approximately $52 million, marking a 0.61% ownership stake by the end of the first quarter.
• Birkenstock reported earnings of $0.58 per share for the last quarter, exceeding analyst expectations and indicating a year-over-year revenue increase of 19.3% to $623.54 million.
• Wall Street analysts hold a positive outlook on Birkenstock, with a consensus rating of "Buy" and an average price target of $68.58, following upgrades from multiple brokerages.

Nuveen LLC acquired a new position in shares of Birkenstock Holding PLC (NYSE:BIRK - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 1,142,535 shares of the company's stock, valued at approximately $52,385,000. Nuveen LLC owned approximately 0.61% of Birkenstock as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Westfield Capital Management Co. LP acquired a new stake in shares of Birkenstock in the first quarter valued at approximately $72,108,000. Marshall Wace LLP lifted its position in shares of Birkenstock by 260.5% in 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. LBP AM SA acquired a new stake in shares of Birkenstock in the first quarter valued at approximately $23,658,000. AXA S.A. acquired a new stake in shares of Birkenstock in the fourth quarter valued at approximately $29,050,000. Finally, ThornTree Capital Partners LP acquired a new stake in shares of Birkenstock in the fourth quarter valued at approximately $19,506,000. 19.93% of the stock is owned by institutional investors and hedge funds.

Birkenstock Price Performance

Birkenstock stock traded down $0.1180 during mid-day trading on Tuesday, reaching $50.3920. 310,767 shares of the company were exchanged, compared to its average volume of 1,939,448. The company has a fifty day simple moving average of $50.14 and a 200-day simple moving average of $50.40. 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 0.47, a current ratio of 3.06 and a quick ratio of 1.34. The firm has a market cap of $9.47 billion, a PE ratio of 27.96, a PEG ratio of 1.15 and a beta of 1.31.

Birkenstock (NYSE:BIRK - Get Free Report) last posted its quarterly earnings data on Thursday, August 14th. The company reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.67 by $0.03. Birkenstock had a return on equity of 11.60% and a net margin of 15.21%.The firm had revenue of $749.13 million for the quarter, compared to analyst estimates of $641.18 million. During the same quarter last year, the company earned $0.40 EPS. The company's revenue was up 12.4% on a year-over-year basis. Birkenstock has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that Birkenstock Holding PLC will post 1.77 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

BIRK has been the subject of a number of recent analyst reports. The Goldman Sachs Group raised Birkenstock from a "neutral" rating to a "buy" rating and set a $60.00 price objective for the company in a research report on Thursday, July 24th. BMO Capital Markets raised their price objective on Birkenstock from $70.00 to $75.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Robert W. Baird increased their target price on Birkenstock from $65.00 to $70.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Bank of America increased their target price on Birkenstock from $70.00 to $73.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Finally, BTIG Research increased their target price on Birkenstock from $70.00 to $72.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. One research analyst has rated the stock with a Strong Buy rating and thirteen have assigned a Buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $68.58.

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.