Cinctive Capital Management LP Acquires 96,870 Shares of Birkenstock Holding PLC $BIRK

Key Points

• Cinctive Capital Management LP significantly increased its stake in Birkenstock Holding PLC by 141.2% in the first quarter, owning approximately $7.59 million worth of shares.
• Birkenstock recently reported an earnings per share (EPS) of $0.70, exceeding analyst expectations and showing a 12.4% increase in revenue from the previous year.
• Several research firms maintain a consensus rating of "Buy" for Birkenstock, with an average target price of $68.58 per share.

Cinctive Capital Management LP raised its position in Birkenstock Holding PLC (NYSE:BIRK - Free Report) by 141.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 165,487 shares of the company's stock after acquiring an additional 96,870 shares during the quarter. Cinctive Capital Management LP owned approximately 0.09% of Birkenstock worth $7,588,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in BIRK. T. Rowe Price Investment Management Inc. lifted its position in shares of Birkenstock by 25.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,167,145 shares of the company's stock worth $236,914,000 after buying an additional 1,042,891 shares during the last quarter. Westfield Capital Management Co. LP acquired a new stake in Birkenstock in the first quarter valued at approximately $72,108,000. AGF Management Ltd. increased its holdings in shares of Birkenstock by 79.9% during the first quarter. AGF Management Ltd. now owns 1,179,688 shares of the company's stock valued at $54,089,000 after acquiring an additional 523,961 shares in the last quarter. Nuveen LLC acquired a new position in shares of Birkenstock during the first quarter worth approximately $52,385,000. Finally, Millennium Management LLC lifted its holdings in shares of Birkenstock by 28.3% in the 4th quarter. Millennium Management LLC now owns 1,016,635 shares of the company's stock worth $57,603,000 after purchasing an additional 224,072 shares in the last quarter. 19.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. William Blair restated an "outperform" rating on shares of Birkenstock in a research note on Tuesday, June 3rd. Telsey Advisory Group reissued an "outperform" rating and issued a $70.00 price objective on shares of Birkenstock in a research note on Thursday, August 14th. Evercore ISI lifted their target price on Birkenstock from $65.00 to $70.00 and gave the company an "outperform" rating in a research report on Monday, May 19th. BTIG Research upped their price target on Birkenstock from $70.00 to $72.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Finally, Robert W. Baird raised their price objective on Birkenstock from $65.00 to $70.00 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 given a Buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $68.58.

Birkenstock Price Performance

Shares of BIRK traded down $1.40 during midday trading on Tuesday, reaching $47.48. The stock had a trading volume of 965,407 shares, compared to its average volume of 1,901,661. The company has a market capitalization of $8.92 billion, a price-to-earnings ratio of 26.38, a price-to-earnings-growth ratio of 1.12 and a beta of 1.31. 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 company's 50-day moving average is $49.95 and its 200 day moving average is $49.95. Birkenstock Holding PLC has a 12-month low of $40.56 and a 12-month high of $62.66.

Birkenstock (NYSE:BIRK - Get Free Report) last released its quarterly earnings results 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 net margin of 15.21% and a return on equity of 11.52%. The business had revenue of $749.13 million for the quarter, compared to analysts' expectations of $641.18 million. During the same quarter in the previous year, the business posted $0.40 earnings per share. The firm's revenue for the quarter was up 12.4% compared to the same quarter last year. Birkenstock has set its FY 2025 guidance at EPS. On average, equities analysts predict that Birkenstock Holding PLC will post 1.77 EPS for the current fiscal 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.