Alliancebernstein L.P. Reduces Stock Position in Birkenstock Holding PLC $BIRK

Key Points

• Alliancebernstein L.P. has reduced its stake in Birkenstock Holding PLC by 13.1%, selling 175,709 shares to own approximately 1,166,505 shares valued at $53.5 million.
• Institutional investors currently hold 19.93% of Birkenstock, with notable activity including increases from Dimensional Fund Advisors and Deutsche Bank.
• Birkenstock recently reported earnings of $0.70 per share, exceeding estimates, and set a fiscal year 2025 guidance with analysts forecasting an average EPS of 1.77.

Alliancebernstein L.P. trimmed its stake in Birkenstock Holding PLC (NYSE:BIRK - Free Report) by 13.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,166,505 shares of the company's stock after selling 175,709 shares during the period. Alliancebernstein L.P. owned 0.62% of Birkenstock worth $53,484,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Signaturefd LLC increased its position in Birkenstock by 66.5% in the first quarter. Signaturefd LLC now owns 841 shares of the company's stock worth $39,000 after buying an additional 336 shares in the last quarter. CWM LLC increased its stake in shares of Birkenstock by 34.8% in the first quarter. CWM LLC now owns 3,133 shares of the company's stock worth $144,000 after purchasing an additional 809 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Birkenstock in the first quarter worth $205,000. Applied Finance Capital Management LLC purchased a new stake in shares of Birkenstock in the first quarter worth $214,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of Birkenstock in the fourth quarter worth $283,000. Hedge funds and other institutional investors own 19.93% of the company's stock.

Birkenstock Price Performance

Shares of Birkenstock stock traded down $1.01 during trading on Friday, reaching $46.39. 479,050 shares of the stock traded hands, compared to its average volume of 1,897,347. The company has a market capitalization of $8.71 billion, a price-to-earnings ratio of 25.78, a P/E/G ratio of 1.05 and a beta of 1.31. The business has a fifty day simple moving average of $49.84 and a two-hundred day simple moving average of $49.88. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.78 and a quick ratio of 1.29. Birkenstock Holding PLC has a 52-week low of $40.56 and a 52-week high of $62.66.

Birkenstock (NYSE:BIRK - Get Free Report) last released its quarterly earnings results on Thursday, August 14th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.03. The business had revenue of $749.13 million during the quarter, compared to analysts' expectations of $641.18 million. Birkenstock had a return on equity of 11.52% and a net margin of 15.21%.The firm's revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.40 EPS. Birkenstock has set its FY 2025 guidance at EPS. Sell-side analysts expect that Birkenstock Holding PLC will post 1.77 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BIRK. Telsey Advisory Group reiterated an "outperform" rating and issued a $70.00 price target on shares of Birkenstock in a research note on Thursday, August 14th. Stifel Nicolaus increased their target price on Birkenstock from $62.00 to $70.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. BTIG Research increased their target price on Birkenstock from $70.00 to $72.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. 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 report on Friday, May 16th. Finally, BMO Capital Markets increased their price objective on shares of Birkenstock from $70.00 to $75.00 and gave the company an "outperform" rating in a report on Friday, May 16th. One analyst has rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $68.58.

Birkenstock Company 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.