Alua Capital Management LP Takes Position in Birkenstock Holding PLC $BIRK

Key Points

• Alua Capital Management LP has taken a new position in Birkenstock Holding PLC, acquiring 735,500 shares valued at approximately $33.72 million, which constitutes 2.6% of its portfolio.
• Several other institutional investors have significantly increased their stakes in Birkenstock, with PNC Financial Services Group's holdings up by 2,514.6% in the same quarter.
• Birkenstock's recent earnings report exceeded analysts' expectations, with an EPS of $0.70 and revenue of $749.13 million, leading to positive ratings from various research firms.

Alua Capital Management LP purchased a new position in shares of Birkenstock Holding PLC (NYSE:BIRK - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 735,500 shares of the company's stock, valued at approximately $33,723,000. Birkenstock comprises about 2.6% of Alua Capital Management LP's investment portfolio, making the stock its 13th largest holding. Alua Capital Management LP owned approximately 0.39% of Birkenstock as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. PNC Financial Services Group Inc. lifted its holdings in Birkenstock by 2,514.6% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,785 shares of the company's stock worth $403,000 after purchasing an additional 8,449 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in Birkenstock by 23.3% in the 1st quarter. Bank of New York Mellon Corp now owns 160,030 shares of the company's stock valued at $7,337,000 after acquiring an additional 30,222 shares in the last quarter. Principal Financial Group Inc. raised its holdings in Birkenstock by 37.6% in the 1st quarter. Principal Financial Group Inc. now owns 746,716 shares of the company's stock valued at $34,237,000 after acquiring an additional 203,918 shares in the last quarter. AGF Management Ltd. raised its holdings in Birkenstock by 79.9% in the 1st quarter. AGF Management Ltd. now owns 1,179,688 shares of the company's stock valued at $54,089,000 after acquiring an additional 523,961 shares in the last quarter. Finally, TD Asset Management Inc raised its holdings in Birkenstock by 30.8% in the 1st quarter. TD Asset Management Inc now owns 412,572 shares of the company's stock valued at $18,916,000 after acquiring an additional 97,200 shares in the last quarter. 19.93% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on BIRK shares. BMO Capital Markets lifted their price objective on Birkenstock from $70.00 to $75.00 and gave the company an "outperform" rating in a report on Friday, May 16th. William Blair reaffirmed an "outperform" rating on shares of Birkenstock in a report on Tuesday, June 3rd. 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 report on Thursday, July 24th. UBS Group set a $77.00 price target on Birkenstock and gave the stock a "buy" rating in a report on Tuesday, August 5th. Finally, Telsey Advisory Group reissued an "outperform" rating and set a $70.00 price target on shares of Birkenstock in a report on Thursday, August 14th. One research analyst has rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $68.58.

Birkenstock Price Performance

BIRK traded down $0.37 on Friday, reaching $50.25. The stock had a trading volume of 1,183,741 shares, compared to its average volume of 1,847,481. Birkenstock Holding PLC has a fifty-two week low of $40.56 and a fifty-two week high of $62.66. The firm has a 50-day moving average of $49.96 and a 200-day moving average of $50.00. The company has a current ratio of 2.78, a quick ratio of 1.29 and a debt-to-equity ratio of 0.50. The company has a market capitalization of $9.44 billion, a price-to-earnings ratio of 27.92, a price-to-earnings-growth ratio of 1.12 and a beta of 1.31.

Birkenstock (NYSE:BIRK - Get Free Report) last issued its earnings results on Thursday, August 14th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 business's revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.40 EPS. Birkenstock has set its FY 2025 guidance at EPS. As a group, sell-side analysts anticipate that Birkenstock Holding PLC will post 1.77 EPS for the current 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.