Woodline Partners LP Acquires 192,351 Shares of Birkenstock Holding PLC $BIRK

Key Points

• Woodline Partners LP increased its stake in Birkenstock Holding PLC by 100.6%, now holding 383,570 shares valued at approximately $17.6 million.
• Several hedge funds have significantly boosted their holdings in Birkenstock, with PNC Financial Services increasing by 2,514.6% and AGF Management raising theirs by 79.9% in the first quarter.
• Analysts have a generally positive outlook on Birkenstock, with multiple firms upgrading their price targets and a consensus recommendation of "Buy" with an average price target of $68.58.

Woodline Partners LP grew its holdings in Birkenstock Holding PLC (NYSE:BIRK - Free Report) by 100.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 383,570 shares of the company's stock after purchasing an additional 192,351 shares during the period. Woodline Partners LP owned approximately 0.20% of Birkenstock worth $17,587,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Signaturefd LLC lifted its holdings 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 acquiring an additional 336 shares during the last quarter. Malaga Cove Capital LLC lifted its stake in Birkenstock by 3.5% in the 4th quarter. Malaga Cove Capital LLC now owns 12,108 shares of the company's stock valued at $686,000 after purchasing an additional 407 shares during the last quarter. NewEdge Advisors LLC boosted its position in Birkenstock by 61.0% in the first quarter. NewEdge Advisors LLC now owns 1,288 shares of the company's stock valued at $59,000 after buying an additional 488 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Birkenstock by 10.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 7,455 shares of the company's stock worth $342,000 after buying an additional 681 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. grew its stake in shares of Birkenstock by 4.9% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 14,778 shares of the company's stock worth $837,000 after buying an additional 688 shares during the last quarter. Institutional investors and hedge funds own 19.93% of the company's stock.

Analyst Upgrades and Downgrades

BIRK has been the topic of several recent research reports. Robert W. Baird raised their price objective on Birkenstock from $65.00 to $70.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Stifel Nicolaus boosted their price target on Birkenstock from $62.00 to $70.00 and gave the stock a "buy" rating in a report on Friday, May 16th. BMO Capital Markets upped their price objective on Birkenstock from $70.00 to $75.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Evercore ISI lifted their target price on shares of Birkenstock from $65.00 to $70.00 and gave the stock an "outperform" rating in a research report on Monday, May 19th. Finally, William Blair reissued an "outperform" rating on shares of Birkenstock in a report on Tuesday, June 3rd. One analyst has rated the stock with a Strong Buy rating and thirteen have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, Birkenstock presently has an average rating of "Buy" and a consensus target price of $68.58.

Birkenstock Stock Down 2.4%

BIRK traded down $1.12 during midday trading on Friday, hitting $46.28. The company had a trading volume of 2,283,474 shares, compared to its average volume of 1,542,788. The stock's 50 day moving average price is $49.78 and its 200 day moving average price is $49.84. Birkenstock Holding PLC has a 52 week low of $40.56 and a 52 week high of $62.66. The company has a market capitalization of $8.69 billion, a price-to-earnings ratio of 25.71, a PEG ratio of 1.06 and a beta of 1.31. The company has a quick ratio of 1.29, a current ratio of 2.78 and a debt-to-equity ratio of 0.50.

Birkenstock (NYSE:BIRK - Get Free Report) last issued its 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 company 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%.Birkenstock's revenue for the quarter was up 12.4% on a year-over-year basis. During the same period in the prior year, the firm earned $0.40 earnings per share. Birkenstock has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Birkenstock Holding PLC will post 1.77 earnings per share for the current fiscal year.

Birkenstock 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.