Concorde Asset Management LLC Takes Position in Birkenstock Holding PLC $BIRK

Key Points

• Concorde Asset Management LLC invested approximately $326,000 in Birkenstock Holding PLC, acquiring 6,778 shares in the 1st quarter.
• Several analysts have raised their price targets for Birkenstock, with UBS Group setting a target of $77.00 and BMO Capital Markets increasing theirs to $75.00.
• Birkenstock reported a quarterly earnings per share of $0.70, exceeding analyst estimates, and a revenue of $749.13 million, reflecting a year-over-year increase of 12.4%.

Concorde Asset Management LLC acquired a new stake in Birkenstock Holding PLC (NYSE:BIRK - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 6,778 shares of the company's stock, valued at approximately $326,000.

Other institutional investors also recently bought and sold shares of the company. Signaturefd LLC raised its position in 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 during the period. Malaga Cove Capital LLC raised its position in Birkenstock by 3.5% in the fourth 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 period. Charles Schwab Investment Management Inc. raised its position in Birkenstock by 10.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 7,455 shares of the company's stock valued at $342,000 after purchasing an additional 681 shares during the period. Jacobs Levy Equity Management Inc. grew its stake in shares of Birkenstock by 4.9% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 14,778 shares of the company's stock valued at $837,000 after buying an additional 688 shares in the last quarter. Finally, JPMorgan Chase & Co. grew 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 valued at $76,000 after buying an additional 707 shares in the last quarter. 19.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on BIRK. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $70.00 price objective on shares of Birkenstock in a research note on Thursday, August 14th. William Blair reaffirmed an "outperform" rating on shares of Birkenstock in a research note on Tuesday, June 3rd. Evercore ISI lifted their price objective on Birkenstock from $65.00 to $70.00 and gave the company an "outperform" rating in a research note on Monday, May 19th. Robert W. Baird lifted 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. Finally, Stifel Nicolaus lifted their price objective on Birkenstock from $62.00 to $70.00 and gave the company a "buy" rating in a research note on Friday, May 16th. One investment analyst has rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $68.58.

Birkenstock Stock Down 2.6%

Shares of NYSE:BIRK traded down $1.29 on Tuesday, hitting $47.59. 870,687 shares of the company's stock were exchanged, compared to its average volume of 1,901,103. The firm's 50-day moving average is $49.95 and its 200 day moving average is $49.95. The company has a market capitalization of $8.94 billion, a PE ratio of 26.44, a P/E/G ratio of 1.12 and a beta of 1.31. Birkenstock Holding PLC has a 1-year low of $40.56 and a 1-year high of $62.66. 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 (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.03. The business had revenue of $749.13 million during the quarter, compared to analysts' expectations of $641.18 million. Birkenstock had a return on equity of 11.52% and a net margin of 15.21%.The business's quarterly revenue was up 12.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.40 EPS. Birkenstock has set its FY 2025 guidance at EPS. Sell-side analysts predict that Birkenstock Holding PLC will post 1.77 EPS for the current 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.