1832 Asset Management L.P. Sells 75,704 Shares of 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 Birkenstock Holding PLC (NYSE:BIRK - Free Report) by 69.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm 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 SEC.

Other institutional investors have also made changes to their positions in the company. Signaturefd LLC increased its stake in shares of Birkenstock by 66.5% in the first 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 position in shares of Birkenstock in the fourth quarter worth about $45,000. Quarry LP increased its stake in shares of Birkenstock by 120.3% in the fourth quarter. Quarry LP now owns 1,097 shares of the company's stock worth $62,000 after purchasing an additional 599 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Birkenstock by 112.0% in the fourth quarter. JPMorgan Chase & Co. now owns 1,338 shares of the company's stock worth $76,000 after purchasing an additional 707 shares during the period. Finally, 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 during the period. 19.93% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

BIRK has been the topic of a number of recent analyst reports. William Blair reiterated an "outperform" rating on shares of Birkenstock in a research note on Tuesday, June 3rd. BTIG Research boosted their price target on Birkenstock from $70.00 to $72.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Stifel Nicolaus boosted their price target on Birkenstock from $62.00 to $70.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Evercore ISI boosted their price target on Birkenstock from $65.00 to $70.00 and gave the company an "outperform" rating in a research note on Monday, May 19th. Finally, BMO Capital Markets boosted their price target on Birkenstock from $70.00 to $75.00 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 assigned a Buy rating to the company's stock. According to MarketBeat.com, Birkenstock currently has an average rating of "Buy" and an average price target of $68.58.

Birkenstock Price Performance

Shares of BIRK stock traded down $0.30 during trading hours on Friday, hitting $52.15. The company had a trading volume of 1,197,114 shares, compared to its average volume of 1,905,921. Birkenstock Holding PLC has a 12 month low of $40.56 and a 12 month high of $62.66. The firm has a market capitalization of $9.79 billion, a price-to-earnings ratio of 28.97, a PEG ratio of 1.16 and a beta of 1.31. The firm's fifty day moving average is $49.91 and its 200 day moving average is $50.12. 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 (NYSE:BIRK - Get Free Report) last released its quarterly earnings data 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. Birkenstock had a return on equity of 11.52% and a net margin of 15.21%.The company had revenue of $749.13 million for the quarter, compared to analyst estimates of $641.18 million. During the same period in the prior year, the company posted $0.40 EPS. The company's revenue was up 12.4% compared to the same quarter last year. Birkenstock has set its FY 2025 guidance at EPS. On average, sell-side analysts predict that Birkenstock Holding PLC will post 1.77 EPS for the current fiscal year.

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.