Graham Capital Management L.P. Buys 17,583 Shares of Birkenstock Holding PLC $BIRK

Key Points

• Graham Capital Management L.P. increased its holdings in Birkenstock Holding PLC by 102.1% in the first quarter, now owning 34,812 shares valued at approximately $1.6 million.
• Several hedge funds have also increased their stakes in Birkenstock, with notable increases from Signaturefd LLC and JPMorgan Chase & Co., indicating growing institutional interest in the company.
• Birkenstock reported $0.70 EPS for its latest quarter, surpassing expectations and achieving a revenue of $749.13 million, marking a year-over-year increase of 12.4%.

Graham Capital Management L.P. increased its stake in Birkenstock Holding PLC (NYSE:BIRK - Free Report) by 102.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 34,812 shares of the company's stock after acquiring an additional 17,583 shares during the quarter. Graham Capital Management L.P.'s holdings in Birkenstock were worth $1,596,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Signaturefd LLC grew its holdings in shares of Birkenstock by 66.5% in the 1st quarter. Signaturefd LLC now owns 841 shares of the company's stock worth $39,000 after acquiring an additional 336 shares during the last quarter. JPMorgan Chase & Co. grew its holdings 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 acquiring an additional 707 shares during the last quarter. CWM LLC grew its holdings in shares of Birkenstock by 34.8% in the 1st quarter. CWM LLC now owns 3,133 shares of the company's stock worth $144,000 after acquiring an additional 809 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of Birkenstock by 68.2% in the 4th quarter. Wells Fargo & Company MN now owns 2,885 shares of the company's stock worth $163,000 after acquiring an additional 1,170 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Birkenstock in the first quarter worth $205,000. 19.93% of the stock is currently owned by institutional investors and hedge funds.

Birkenstock Stock Down 0.7%

BIRK traded down $0.37 during trading on Friday, reaching $50.25. 1,183,741 shares of the stock traded hands, compared to its average volume of 1,847,481. The stock has a market cap of $9.44 billion, a price-to-earnings ratio of 27.92, a price-to-earnings-growth ratio of 1.12 and a beta of 1.31. Birkenstock Holding PLC has a fifty-two week low of $40.56 and a fifty-two week high of $62.66. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.78 and a quick ratio of 1.29. The stock's 50-day simple moving average is $49.96 and its two-hundred day simple moving average is $50.00.

Birkenstock (NYSE:BIRK - Get Free Report) last posted its 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 return on equity of 11.52% and a net margin of 15.21%.The company 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 earnings per share. The business's revenue was up 12.4% compared to the same quarter last year. Birkenstock has set its FY 2025 guidance at EPS. As a group, equities research analysts expect that Birkenstock Holding PLC will post 1.77 EPS for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Bank of America raised their target price on Birkenstock from $70.00 to $73.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Evercore ISI raised their target price on Birkenstock from $65.00 to $70.00 and gave the stock an "outperform" rating in a research report on Monday, May 19th. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $70.00 target price on shares of Birkenstock in a research report on Thursday, August 14th. Robert W. Baird raised their target price on Birkenstock from $65.00 to $70.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Finally, William Blair reaffirmed an "outperform" rating on shares of Birkenstock in a research report on Tuesday, June 3rd. 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, Birkenstock has a consensus rating of "Buy" and an average price target of $68.58.

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.