Durable Capital Partners LP Has $14.98 Million Stake in Birkenstock Holding PLC $BIRK

Key Points

• Durable Capital Partners LP sold 1,635,454 shares of Birkenstock, reducing its stake by 83.4%, now holding 326,630 shares valued at approximately $14.98 million.
• Several institutional investors have adjusted their positions in Birkenstock, with T. Rowe Price increasing its holdings by 25.3% to over 5.1 million shares.
• Birkenstock's stock is currently trading at $52.15, with analysts maintaining a consensus target price of $68.58 and a general recommendation of "Buy."

Durable Capital Partners LP trimmed its stake in Birkenstock Holding PLC (NYSE:BIRK - Free Report) by 83.4% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 326,630 shares of the company's stock after selling 1,635,454 shares during the quarter. Durable Capital Partners LP owned approximately 0.17% of Birkenstock worth $14,976,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Signaturefd LLC grew its holdings in Birkenstock by 66.5% during the first quarter. Signaturefd LLC now owns 841 shares of the company's stock worth $39,000 after purchasing an additional 336 shares during the period. NewEdge Advisors LLC bought a new position in Birkenstock during the fourth quarter worth about $45,000. JPMorgan Chase & Co. grew its holdings in Birkenstock by 112.0% during the fourth quarter. JPMorgan Chase & Co. now owns 1,338 shares of the company's stock worth $76,000 after purchasing an additional 707 shares during the period. CWM LLC grew its holdings in Birkenstock by 34.8% during the first quarter. CWM LLC now owns 3,133 shares of the company's stock worth $144,000 after purchasing an additional 809 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in Birkenstock by 68.2% during the fourth quarter. Wells Fargo & Company MN now owns 2,885 shares of the company's stock worth $163,000 after purchasing an additional 1,170 shares during the period. Institutional investors own 19.93% of the company's stock.

Birkenstock Stock Performance

NYSE:BIRK traded down $0.37 during mid-day trading on Friday, hitting $50.25. 1,183,741 shares of the stock were exchanged, compared to its average volume of 1,847,481. The stock has a market capitalization of $9.44 billion, a price-to-earnings ratio of 27.92, a price-to-earnings-growth ratio of 1.13 and a beta of 1.31. The firm's 50-day simple moving average is $49.96 and its 200 day simple moving average is $50.03. 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 Holding PLC has a fifty-two week low of $40.56 and a fifty-two week 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, 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 firm's revenue for the quarter was up 12.4% compared to the same quarter last year. During the same period last year, the firm posted $0.40 EPS. Birkenstock has set its FY 2025 guidance at EPS. As a group, equities analysts anticipate that Birkenstock Holding PLC will post 1.77 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Evercore ISI lifted their price target on Birkenstock from $65.00 to $70.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. BMO Capital Markets lifted their price target on Birkenstock from $70.00 to $75.00 and gave the stock an "outperform" rating in a report on Friday, May 16th. Stifel Nicolaus lifted 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. Telsey Advisory Group reiterated an "outperform" rating and set a $70.00 price target on shares of Birkenstock in a report on Thursday, August 14th. Finally, UBS Group set a $77.00 price objective on shares of Birkenstock and gave the stock a "buy" rating in a research report on Tuesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the stock. According to data from MarketBeat, Birkenstock has a consensus rating of "Buy" and an average target price of $68.58.

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.