Millennium Management LLC Has $25.49 Million Stake in Birkenstock Holding PLC $BIRK

Key Points

• Millennium Management LLC has sold 460,751 shares of Birkenstock Holding PLC, resulting in a 45.3% reduction in its holdings, bringing its ownership down to approximately 555,884 shares worth about $25.5 million.
• Several institutional investors, including PNC Financial, Bank of New York Mellon, and Principal Financial Group, significantly increased their stakes in Birkenstock during the same quarter.
• Birkenstock's recent quarterly earnings surpassed expectations, reporting a revenue of $749.13 million, leading analysts to set a consensus price target of $68.58 for the stock.

Millennium Management LLC trimmed its holdings in Birkenstock Holding PLC (NYSE:BIRK - Free Report) by 45.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 555,884 shares of the company's stock after selling 460,751 shares during the period. Millennium Management LLC owned 0.30% of Birkenstock worth $25,487,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in BIRK. Dimensional Fund Advisors LP boosted its stake in Birkenstock by 140.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 27,305 shares of the company's stock worth $1,547,000 after buying an additional 15,961 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Birkenstock by 11.1% in the 4th quarter. Northern Trust Corp now owns 75,027 shares of the company's stock valued at $4,251,000 after purchasing an additional 7,498 shares in the last quarter. Deutsche Bank AG lifted its stake in shares of Birkenstock by 1,564.2% in the 4th quarter. Deutsche Bank AG now owns 50,343 shares of the company's stock valued at $2,852,000 after purchasing an additional 47,318 shares in the last quarter. Ethic Inc. acquired a new position in shares of Birkenstock in the 4th quarter valued at about $315,000. Finally, Jacobs Levy Equity Management Inc. lifted its stake in shares of Birkenstock by 4.9% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 14,778 shares of the company's stock valued at $837,000 after purchasing an additional 688 shares in the last quarter. 19.93% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on BIRK shares. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $70.00 price objective on shares of Birkenstock in a research note on Thursday, August 14th. UBS Group set a $77.00 price objective on Birkenstock and gave the company a "buy" rating in a research note on Tuesday, August 5th. Evercore ISI raised their target price on Birkenstock from $65.00 to $70.00 and gave the company an "outperform" rating in a report on Monday, May 19th. William Blair reiterated an "outperform" rating on shares of Birkenstock in a report on Tuesday, June 3rd. Finally, The Goldman Sachs Group upgraded Birkenstock from a "neutral" rating to a "buy" rating and set a $60.00 target price on the stock in a report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the stock. Based on data from MarketBeat, Birkenstock currently has an average rating of "Buy" and an average target price of $68.58.

Birkenstock Stock Down 2.4%

BIRK stock traded down $1.12 during midday trading on Friday, hitting $46.28. 2,283,474 shares of the company's stock were exchanged, compared to its average volume of 1,542,788. The company has a current ratio of 2.78, a quick ratio of 1.29 and a debt-to-equity ratio of 0.50. Birkenstock Holding PLC has a 12-month low of $40.56 and a 12-month high of $62.66. The firm has a 50 day moving average price of $49.78 and a 200-day moving average price of $49.84. The stock has a market capitalization of $8.69 billion, a price-to-earnings ratio of 25.71, a price-to-earnings-growth ratio of 1.06 and a beta of 1.31.

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 analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $641.18 million. During the same quarter in the previous year, the firm posted $0.40 EPS. The business'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. On average, analysts anticipate 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.