55,342 Shares in Birkenstock Holding PLC $BIRK Purchased by EFG Asset Management North America Corp.

Key Points

• EFG Asset Management North America Corp. has acquired a new stake in Birkenstock Holding PLC, purchasing 55,342 shares valued at approximately $2.54 million.
• Analysts have largely upgraded their price targets for Birkenstock, with BMO Capital Markets raising their target from $70.00 to $75.00 and BTIG Research increasing theirs from $70.00 to $72.00.
• Birkenstock reported strong quarterly earnings, with an earnings per share of $0.70, exceeding estimates, and revenue of $749.13 million, marking a 12.4% increase compared to the previous year.

EFG Asset Management North America Corp. bought a new position in Birkenstock Holding PLC (NYSE:BIRK - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 55,342 shares of the company's stock, valued at approximately $2,541,000.

A number of other hedge funds have also modified their holdings of BIRK. Westfield Capital Management Co. LP acquired a new position in shares of Birkenstock in the 1st quarter worth approximately $72,108,000. Nuveen LLC acquired a new position in shares of Birkenstock in the 1st quarter worth approximately $52,385,000. T. Rowe Price Investment Management Inc. raised its holdings in shares of Birkenstock by 25.3% in 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 in the last quarter. Alua Capital Management LP acquired a new position in shares of Birkenstock in the 1st quarter worth approximately $33,723,000. Finally, AGF Management Ltd. raised its holdings in shares of Birkenstock by 79.9% in the 1st quarter. AGF Management Ltd. now owns 1,179,688 shares of the company's stock worth $54,089,000 after buying an additional 523,961 shares in the last quarter. 19.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

BIRK has been the topic of a number of research analyst reports. Robert W. Baird increased their price target on Birkenstock from $65.00 to $70.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Evercore ISI increased their price target on Birkenstock from $65.00 to $70.00 and gave the stock an "outperform" rating in a research report on Monday, May 19th. BTIG Research increased their price target on Birkenstock from $70.00 to $72.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. UBS Group set a $77.00 price target on Birkenstock and gave the stock a "buy" rating in a research report on Tuesday, August 5th. Finally, Stifel Nicolaus increased their price target on Birkenstock from $62.00 to $70.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $68.58.

Birkenstock Trading Down 2.7%

BIRK traded down $1.37 during mid-day trading on Monday, reaching $48.82. The stock had a trading volume of 1,887,737 shares, compared to its average volume of 1,907,507. The stock has a market capitalization of $9.17 billion, a P/E ratio of 27.12, a P/E/G ratio of 1.12 and a beta of 1.31. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.29 and a current ratio of 2.78. The firm's fifty day simple moving average is $49.96 and its two-hundred day simple moving average is $49.97. Birkenstock Holding PLC has a 52 week low of $40.56 and a 52 week high of $62.66.

Birkenstock (NYSE:BIRK - Get Free Report) last posted its quarterly earnings results 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. Birkenstock had a return on equity of 11.52% and a net margin of 15.21%.The business had revenue of $749.13 million for the quarter, compared to analyst estimates of $641.18 million. During the same period last year, the company earned $0.40 EPS. The firm's revenue was up 12.4% on a year-over-year basis. 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 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.