Canada Pension Plan Investment Board Boosts Stake in Birkenstock Holding PLC $BIRK

Key Points

• The Canada Pension Plan Investment Board increased its holdings in Birkenstock Holding PLC by 61.6% in the first quarter, bringing its total shares to 80,572, valued at approximately $3.69 million.
• Several institutional investors, including JPMorgan Chase and Wells Fargo, have also significantly increased their positions in Birkenstock during the fourth quarter, demonstrating growing institutional interest in the stock.
• Analysts have predominantly issued bullish ratings, with the consensus target price rising to $68.58, reflecting a strong upward trend in investor sentiment for Birkenstock's stock performance.

Canada Pension Plan Investment Board lifted its stake in Birkenstock Holding PLC (NYSE:BIRK - Free Report) by 61.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 80,572 shares of the company's stock after purchasing an additional 30,723 shares during the quarter. Canada Pension Plan Investment Board's holdings in Birkenstock were worth $3,694,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of BIRK. Westfield Capital Management Co. LP acquired a new position in shares of Birkenstock in the first quarter valued at $72,108,000. Nuveen LLC purchased a new position in shares of Birkenstock during the first quarter worth about $52,385,000. T. Rowe Price Investment Management Inc. grew its position in Birkenstock by 25.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,167,145 shares of the company's stock worth $236,914,000 after acquiring an additional 1,042,891 shares during the last quarter. AGF Management Ltd. lifted its position in Birkenstock by 79.9% during the first quarter. AGF Management Ltd. now owns 1,179,688 shares of the company's stock valued at $54,089,000 after buying an additional 523,961 shares during the period. Finally, LBP AM SA purchased a new position in Birkenstock in the 1st quarter worth about $23,658,000. Institutional investors own 19.93% of the company's stock.

Birkenstock Stock Performance

Birkenstock stock traded down $1.58 during mid-day trading on Monday, reaching $48.62. 869,484 shares of the company were exchanged, compared to its average volume of 1,901,141. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.29 and a current ratio of 2.78. Birkenstock Holding PLC has a twelve month low of $40.56 and a twelve month high of $62.66. The firm has a market cap of $9.13 billion, a PE ratio of 27.00, a price-to-earnings-growth ratio of 1.12 and a beta of 1.31. The firm's 50-day simple moving average is $49.96 and its two-hundred day simple moving average is $49.97.

Birkenstock (NYSE:BIRK - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The company reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.67 by $0.03. The business had revenue of $749.13 million for 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 quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.40 EPS. Birkenstock has set its FY 2025 guidance at EPS. Equities analysts predict 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 several recent analyst reports. BMO Capital Markets raised their price target on Birkenstock from $70.00 to $75.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. UBS Group set a $77.00 price target on Birkenstock and gave the stock a "buy" rating in a report on Tuesday, August 5th. William Blair reaffirmed an "outperform" rating on shares of Birkenstock in a research report on Tuesday, June 3rd. Bank of America boosted their price target on Birkenstock from $70.00 to $73.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Finally, Robert W. Baird raised their price objective on Birkenstock from $65.00 to $70.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the stock. According to data from MarketBeat.com, Birkenstock has a consensus rating of "Buy" and an average price target of $68.58.

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.