Crestwood Capital Management L.P. Boosts Position in Birkenstock Holding PLC (NYSE:BIRK)

Key Points

• Crestwood Capital Management L.P. increased its holdings in Birkenstock Holding PLC by 50.7%, acquiring an additional 90,250 shares to reach a total of 268,103 shares, making Birkenstock its 6th largest investment.
• Several institutional investors have also boosted their positions in Birkenstock, with notable increases from Signaturefd LLC and Quarry LP.
• Analysts have raised their price targets for Birkenstock shares, with a consensus target price now at $68.58 and an average rating of "Buy".

Crestwood Capital Management L.P. boosted its position in shares of Birkenstock Holding PLC (NYSE:BIRK - Free Report) by 50.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 268,103 shares of the company's stock after buying an additional 90,250 shares during the quarter. Birkenstock makes up about 9.4% of Crestwood Capital Management L.P.'s holdings, making the stock its 6th biggest holding. Crestwood Capital Management L.P. owned about 0.14% of Birkenstock worth $12,293,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its position in shares of Birkenstock by 112.0% in the 4th quarter. JPMorgan Chase & Co. now owns 1,338 shares of the company's stock worth $76,000 after buying an additional 707 shares during the period. Wells Fargo & Company MN grew its position in Birkenstock by 68.2% during the 4th quarter. Wells Fargo & Company MN now owns 2,885 shares of the company's stock valued at $163,000 after purchasing an additional 1,170 shares during the last quarter. Russell Investments Group Ltd. grew its position in Birkenstock by 162,288.2% during the 4th quarter. Russell Investments Group Ltd. now owns 55,212 shares of the company's stock valued at $3,128,000 after purchasing an additional 55,178 shares during the last quarter. Invesco Ltd. increased its position in shares of Birkenstock by 21.9% during the fourth quarter. Invesco Ltd. now owns 29,253 shares of the company's stock valued at $1,657,000 after acquiring an additional 5,247 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of Birkenstock by 12.3% during the fourth quarter. Legal & General Group Plc now owns 3,158 shares of the company's stock valued at $179,000 after acquiring an additional 347 shares in the last quarter. 19.93% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Telsey Advisory Group reissued an "outperform" rating and set a $70.00 price target on shares of Birkenstock in a research report on Thursday. Robert W. Baird raised their price target on shares of Birkenstock from $65.00 to $70.00 and gave the company an "outperform" rating in a report on Friday, May 16th. William Blair reaffirmed an "outperform" rating on shares of Birkenstock in a report on Tuesday, June 3rd. Bank of America raised their price target on shares of Birkenstock from $70.00 to $73.00 and gave the company a "buy" rating in a report on Friday, May 16th. Finally, The Goldman Sachs Group raised shares of Birkenstock from a "neutral" rating to a "buy" rating and set a $60.00 price target on the stock in a report on Thursday, July 24th. Thirteen investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $68.58.

Birkenstock Price Performance

NYSE:BIRK traded up $1.26 during trading hours on Friday, hitting $49.67. 2,651,545 shares of the stock traded hands, compared to its average volume of 2,023,325. The company has a quick ratio of 1.34, a current ratio of 3.06 and a debt-to-equity ratio of 0.47. Birkenstock Holding PLC has a 1 year low of $40.56 and a 1 year high of $64.78. The company has a market cap of $9.33 billion, a price-to-earnings ratio of 27.59, a price-to-earnings-growth ratio of 1.18 and a beta of 1.31. The stock has a 50 day moving average price of $50.25 and a 200 day moving average price of $50.54.

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, beating the consensus estimate of $0.67 by $0.03. The firm had revenue of $749.13 million for the quarter, compared to analysts' expectations of $641.18 million. Birkenstock had a net margin of 15.21% and a return on equity of 11.60%. The company's revenue for the quarter was up 12.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.40 earnings per share. Sell-side analysts forecast that Birkenstock Holding PLC will post 1.77 EPS for the current fiscal 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.