Deutsche Bank AG Increases Stock Position in Birkenstock Holding PLC $BIRK

Key Points

• Deutsche Bank AG increased its stake in Birkenstock Holding PLC by 56.7%, owning a total of 78,876 shares valued at approximately $3.6 million after purchasing an additional 28,533 shares in Q1.
• Birkenstock reported better-than-expected earnings for the most recent quarter, achieving $0.70 EPS against a consensus estimate of $0.67, with revenues of $749.13 million, significantly higher than the projected $641.18 million.
• Analysts have largely rated Birkenstock stock as a buy, with multiple price target increases, including a new target of $75.00 from BMO Capital Markets.

Deutsche Bank AG boosted its stake in Birkenstock Holding PLC (NYSE:BIRK - Free Report) by 56.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 78,876 shares of the company's stock after purchasing an additional 28,533 shares during the period. Deutsche Bank AG's holdings in Birkenstock were worth $3,616,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Signaturefd LLC grew its position in Birkenstock by 66.5% in the 1st quarter. Signaturefd LLC now owns 841 shares of the company's stock worth $39,000 after purchasing an additional 336 shares during the period. NewEdge Advisors LLC bought a new stake in shares of Birkenstock during the 4th quarter valued at $45,000. Quarry LP grew its position in shares of Birkenstock by 120.3% during the 4th quarter. Quarry LP now owns 1,097 shares of the company's stock valued at $62,000 after acquiring an additional 599 shares during the period. JPMorgan Chase & Co. grew its position in shares of Birkenstock by 112.0% during the 4th quarter. JPMorgan Chase & Co. now owns 1,338 shares of the company's stock valued at $76,000 after acquiring an additional 707 shares during the period. Finally, Sterling Capital Management LLC grew its position in shares of Birkenstock by 49.7% during the 4th quarter. Sterling Capital Management LLC now owns 2,354 shares of the company's stock valued at $133,000 after acquiring an additional 782 shares during the period. Institutional investors own 19.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Evercore ISI boosted their price objective on shares of Birkenstock from $65.00 to $70.00 and gave the company an "outperform" rating in a research report on Monday, May 19th. Telsey Advisory Group reissued an "outperform" rating and set a $70.00 price objective on shares of Birkenstock in a research report on Thursday, August 14th. UBS Group set a $77.00 price objective on shares of Birkenstock and gave the company a "buy" rating in a research report on Tuesday, August 5th. BMO Capital Markets boosted their price objective on shares of Birkenstock from $70.00 to $75.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Finally, Robert W. Baird boosted their price objective on shares of Birkenstock from $65.00 to $70.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. One investment analyst has rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the company's stock. Based on data from MarketBeat, Birkenstock has an average rating of "Buy" and a consensus target price of $68.58.

Birkenstock Price Performance

Shares of BIRK traded up $2.7260 during trading hours on Friday, reaching $53.3660. 1,938,876 shares of the stock traded hands, compared to its average volume of 2,089,553. The company has a current ratio of 2.78, a quick ratio of 1.34 and a debt-to-equity ratio of 0.50. Birkenstock Holding PLC has a 52-week low of $40.56 and a 52-week high of $64.78. The company's 50-day moving average price is $49.93 and its two-hundred day moving average price is $50.34. The company has a market cap of $10.02 billion, a P/E ratio of 29.65, a price-to-earnings-growth ratio of 1.13 and a beta of 1.31.

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