1832 Asset Management L.P. Has $1.52 Million Stake in Birkenstock Holding PLC $BIRK

Key Points

• 1832 Asset Management L.P. significantly reduced its stake in Birkenstock Holding PLC by 69.6% during the first quarter, selling 75,704 shares and now holding 33,140 shares valued at approximately $1.52 million.
• Birkenstock reported earnings of $0.70 EPS for the most recent quarter, exceeding analyst expectations, with revenue increasing by 12.4% year-over-year.
• The stock currently has a market capitalization of $9.89 billion and analysts are optimistic with an average price target of $68.58 and a majority rating of "Buy".

1832 Asset Management L.P. cut its holdings in shares of Birkenstock Holding PLC (NYSE:BIRK - Free Report) by 69.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 33,140 shares of the company's stock after selling 75,704 shares during the period. 1832 Asset Management L.P.'s holdings in Birkenstock were worth $1,519,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of the company. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Birkenstock by 25.3% in the first quarter. T. Rowe Price Investment Management Inc. now owns 5,167,145 shares of the company's stock valued at $236,914,000 after purchasing an additional 1,042,891 shares in the last quarter. Bamco Inc. NY lifted its holdings in shares of Birkenstock by 8.3% in the fourth quarter. Bamco Inc. NY now owns 3,359,351 shares of the company's stock valued at $190,341,000 after purchasing an additional 256,844 shares in the last quarter. Westfield Capital Management Co. LP bought a new stake in shares of Birkenstock in the first quarter valued at about $72,108,000. AGF Management Ltd. lifted its holdings in shares of Birkenstock by 79.9% in the first quarter. AGF Management Ltd. now owns 1,179,688 shares of the company's stock valued at $54,089,000 after purchasing an additional 523,961 shares in the last quarter. Finally, Nuveen LLC bought a new stake in shares of Birkenstock in the first quarter valued at about $52,385,000. 19.93% of the stock is currently owned by institutional investors.

Birkenstock Stock Performance

NYSE:BIRK traded up $0.30 on Thursday, hitting $52.43. The company's stock had a trading volume of 1,423,685 shares, compared to its average volume of 1,993,873. 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 stock has a fifty day moving average of $49.91 and a two-hundred day moving average of $50.23. The firm has a market capitalization of $9.85 billion, a P/E ratio of 29.13, a price-to-earnings-growth ratio of 1.16 and a beta of 1.31. Birkenstock Holding PLC has a one year low of $40.56 and a one year high of $62.66.

Birkenstock (NYSE:BIRK - Get Free Report) last released its quarterly earnings data on Thursday, August 14th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.67 by $0.03. The firm had revenue of $749.13 million for the quarter, compared to analyst estimates 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 company earned $0.40 earnings per share. Birkenstock has set its FY 2025 guidance at EPS. Research analysts predict that Birkenstock Holding PLC will post 1.77 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Evercore ISI boosted their price target on Birkenstock from $65.00 to $70.00 and gave the company an "outperform" rating in a report on Monday, May 19th. UBS Group set a $77.00 price target on Birkenstock and gave the company a "buy" rating in a report on Tuesday, August 5th. Bank of America upped their target price on Birkenstock from $70.00 to $73.00 and gave the stock a "buy" rating in a report on Friday, May 16th. BTIG Research upped their target price on Birkenstock from $70.00 to $72.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Finally, William Blair reiterated an "outperform" rating on shares of Birkenstock in a report on Tuesday, June 3rd. One equities research analyst has rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target 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.