Birkenstock Holding PLC $BIRK Shares Sold by Renaissance Capital LLC

Key Points

• Renaissance Capital LLC reduced its stake in Birkenstock Holding PLC by 25.8%, owning 58,068 shares worth $2.86 million as of the latest SEC filing.
• Birkenstock's stock opened at $44.63, with a market capitalization of $8.38 billion and a P/E ratio of 24.79, reflecting a 0.6% decline in share value.
• The company reported earnings of $0.70 per share, surpassing analysts' expectations and showing a 12.4% increase in revenue from the previous year.

Renaissance Capital LLC lessened its stake in shares of Birkenstock Holding PLC (NYSE:BIRK - Free Report) by 25.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 58,068 shares of the company's stock after selling 20,147 shares during the quarter. Birkenstock accounts for 2.0% of Renaissance Capital LLC's investment portfolio, making the stock its 20th biggest position. Renaissance Capital LLC's holdings in Birkenstock were worth $2,856,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently modified their holdings of the company. Signaturefd LLC lifted its stake in shares of Birkenstock by 66.5% during the first quarter. Signaturefd LLC now owns 841 shares of the company's stock worth $39,000 after purchasing an additional 336 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Birkenstock by 34.5% during the second quarter. GAMMA Investing LLC now owns 908 shares of the company's stock worth $45,000 after purchasing an additional 233 shares in the last quarter. NewEdge Advisors LLC lifted its stake in shares of Birkenstock by 61.0% during the first quarter. NewEdge Advisors LLC now owns 1,288 shares of the company's stock worth $59,000 after purchasing an additional 488 shares in the last quarter. CWM LLC lifted its stake in shares of Birkenstock by 34.8% during the first quarter. CWM LLC now owns 3,133 shares of the company's stock worth $144,000 after purchasing an additional 809 shares in the last quarter. Finally, Virtu Financial LLC acquired a new position in shares of Birkenstock during the first quarter worth about $205,000. Institutional investors and hedge funds own 19.93% of the company's stock.

Birkenstock Stock Down 0.6%

Shares of Birkenstock stock opened at $44.63 on Tuesday. The company has a quick ratio of 1.29, a current ratio of 2.78 and a debt-to-equity ratio of 0.50. The firm has a market cap of $8.38 billion, a P/E ratio of 24.79, a P/E/G ratio of 1.02 and a beta of 1.31. Birkenstock Holding PLC has a fifty-two week low of $40.56 and a fifty-two week high of $62.66. The business has a 50-day moving average price of $49.21 and a 200 day moving average price of $49.82.

Birkenstock (NYSE:BIRK - Get Free Report) last issued its earnings results on Thursday, August 14th. The company reported $0.70 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $641.18 million. During the same period in the previous year, the firm posted $0.40 earnings per share. Birkenstock's quarterly 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 forecast that Birkenstock Holding PLC will post 1.77 earnings per share for the current fiscal year.

Analyst Ratings Changes

BIRK has been the topic of a number of recent research reports. William Blair restated an "outperform" rating on shares of Birkenstock in a research note on Tuesday, June 3rd. JPMorgan Chase & Co. dropped their target price on Birkenstock from $81.00 to $66.00 and set an "overweight" rating on the stock in a research report on Friday, September 19th. The Goldman Sachs Group raised Birkenstock from a "neutral" rating to a "buy" rating and set a $60.00 target price on the stock in a research report on Thursday, July 24th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $70.00 target price on shares of Birkenstock in a research report on Friday. Finally, UBS Group set a $77.00 target price on Birkenstock and gave the stock a "buy" rating in a research report on Tuesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, Birkenstock currently has an average rating of "Buy" and a consensus target price of $68.38.

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.

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