Woodline Partners LP Has $17.59 Million Holdings in 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 position in Birkenstock Holding PLC (NYSE:BIRK - Free Report) by 100.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 383,570 shares of the company's stock after acquiring an additional 192,351 shares during the period. Woodline Partners LP owned 0.20% of Birkenstock worth $17,587,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Signaturefd LLC increased its holdings in shares of Birkenstock by 66.5% in the first quarter. Signaturefd LLC now owns 841 shares of the company's stock valued at $39,000 after purchasing an additional 336 shares in the last quarter. NewEdge Advisors LLC increased its holdings in shares of 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 purchasing an additional 488 shares in the last quarter. CWM LLC increased its holdings in shares of Birkenstock by 34.8% in the first quarter. CWM LLC now owns 3,133 shares of the company's stock valued at $144,000 after purchasing an additional 809 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Birkenstock in the first quarter valued at approximately $205,000. Finally, Applied Finance Capital Management LLC acquired a new stake in shares of Birkenstock in the first quarter valued at approximately $214,000. Institutional investors and hedge funds own 19.93% of the company's stock.

Analyst Upgrades and Downgrades

BIRK has been the subject of a number of research reports. Telsey Advisory Group reissued an "outperform" rating and issued a $70.00 price target on shares of Birkenstock in a report on Thursday, August 14th. UBS Group set a $77.00 price target on shares of Birkenstock and gave the company a "buy" rating in a report on Tuesday, August 5th. The Goldman Sachs Group raised shares of Birkenstock from a "neutral" rating to a "buy" rating and set a $60.00 price target for the company in a report on Thursday, July 24th. 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 report on Monday, May 19th. Finally, William Blair reaffirmed an "outperform" rating on shares of Birkenstock in a report on Tuesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the stock. According to MarketBeat, Birkenstock currently has an average rating of "Buy" and an average target price of $68.58.

Birkenstock Stock Down 0.6%

BIRK traded down $0.26 during trading on Tuesday, hitting $45.83. The company had a trading volume of 972,034 shares, compared to its average volume of 1,904,307. The company has a market capitalization of $8.61 billion, a PE ratio of 25.48, a PEG ratio of 1.03 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. The firm's 50-day moving average price is $49.72 and its 200 day moving average price is $49.82. 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 quarterly earnings results on Thursday, August 14th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.67 by $0.03. Birkenstock had a net margin of 15.21% and a return on equity of 11.52%. The firm had revenue of $749.13 million for the quarter, compared to analysts' expectations of $641.18 million. During the same period in the previous year, the firm posted $0.40 EPS. The company's revenue for the quarter was up 12.4% on a year-over-year basis. Birkenstock has set its FY 2025 guidance at EPS. As a group, equities analysts expect 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.