Magnetar Financial LLC Boosts Stake in Birkenstock Holding PLC $BIRK

Key Points

• Magnetar Financial LLC has increased its stake in Birkenstock Holding PLC by 117.9%, owning a total of 23,357 shares valued at approximately $1,071,000 after acquiring an additional 12,639 shares.
• Birkenstock reported strong quarterly results with earnings per share of $0.70, surpassing the consensus estimate of $0.67, alongside a revenue increase of 12.4% year-over-year.
• Following positive performance, multiple analysts have upgraded Birkenstock with price targets ranging from $60.00 to $73.00, reflecting an overall consensus rating of "Buy."

Magnetar Financial LLC raised its holdings in shares of Birkenstock Holding PLC (NYSE:BIRK - Free Report) by 117.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 23,357 shares of the company's stock after acquiring an additional 12,639 shares during the quarter. Magnetar Financial LLC's holdings in Birkenstock were worth $1,071,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of BIRK. PNC Financial Services Group Inc. lifted its position in Birkenstock by 2,514.6% during the first quarter. PNC Financial Services Group Inc. now owns 8,785 shares of the company's stock valued at $403,000 after purchasing an additional 8,449 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Birkenstock by 23.3% in the first quarter. Bank of New York Mellon Corp now owns 160,030 shares of the company's stock worth $7,337,000 after buying an additional 30,222 shares during the period. Principal Financial Group Inc. lifted its position in shares of Birkenstock by 37.6% during the 1st quarter. Principal Financial Group Inc. now owns 746,716 shares of the company's stock valued at $34,237,000 after buying an additional 203,918 shares in the last quarter. AGF Management Ltd. increased its holdings in 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 acquiring an additional 523,961 shares in the last quarter. Finally, TD Asset Management Inc raised its stake in Birkenstock by 30.8% during the 1st quarter. TD Asset Management Inc now owns 412,572 shares of the company's stock worth $18,916,000 after acquiring an additional 97,200 shares during the period. 19.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on BIRK shares. Bank of America upped their price target on shares of Birkenstock from $70.00 to $73.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Evercore ISI upped their target price on shares of Birkenstock from $65.00 to $70.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. UBS Group set a $77.00 price target on Birkenstock and gave the stock a "buy" rating in a research note on Tuesday, August 5th. BMO Capital Markets boosted their price objective on Birkenstock from $70.00 to $75.00 and gave the company an "outperform" rating in a research report on Friday, May 16th. Finally, Robert W. Baird increased 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. One investment analyst has rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $68.58.

Birkenstock Price Performance

BIRK stock traded up $1.02 during trading on Thursday, hitting $50.67. 649,043 shares of the company's stock traded hands, compared to its average volume of 1,908,568. The business has a fifty day simple moving average of $49.91 and a 200 day simple moving average of $50.09. Birkenstock Holding PLC has a 52 week low of $40.56 and a 52 week 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. The stock has a market capitalization of $9.52 billion, a price-to-earnings ratio of 28.16, a P/E/G ratio of 1.16 and a beta of 1.31.

Birkenstock (NYSE:BIRK - Get Free Report) last announced its quarterly earnings results on Thursday, August 14th. The company reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.67 by $0.03. Birkenstock had a net margin of 15.21% and a return on equity of 11.52%. The firm had revenue of $749.13 million during the quarter, compared to the consensus estimate of $641.18 million. During the same quarter last year, the firm earned $0.40 EPS. The firm's revenue for the quarter was up 12.4% compared to the same quarter last year. Birkenstock has set its FY 2025 guidance at EPS. As a group, research analysts expect that Birkenstock Holding PLC will post 1.77 EPS for the current fiscal year.

Birkenstock 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.