Prudential PLC Buys 8,060 Shares of Birkenstock Holding PLC $BIRK

Key Points

• Prudential PLC increased its stake in Birkenstock Holding PLC by 101.4%, now holding 16,010 shares worth $734,000 as of its latest SEC filing.
• Major hedge funds, including Westfield Capital Management and Nuveen, have also made significant investments in Birkenstock, indicating strong institutional interest in the company.
• Birkenstock reported earnings of $0.70 per share for the last quarter, surpassing estimates, with revenue totaling $749.13 million, marking a 12.4% increase year-over-year.

Prudential PLC raised its holdings in shares of Birkenstock Holding PLC (NYSE:BIRK - Free Report) by 101.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 16,010 shares of the company's stock after purchasing an additional 8,060 shares during the period. Prudential PLC's holdings in Birkenstock were worth $734,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in BIRK. Westfield Capital Management Co. LP purchased a new stake in Birkenstock during the 1st quarter valued at $72,108,000. Nuveen LLC purchased a new stake in Birkenstock during the 1st quarter valued at $52,385,000. Marshall Wace LLP boosted its stake in Birkenstock by 260.5% during the 4th quarter. Marshall Wace LLP now owns 1,100,692 shares of the company's stock valued at $62,365,000 after purchasing an additional 795,382 shares during the last quarter. AGF Management Ltd. boosted its stake in Birkenstock by 79.9% during the 1st quarter. AGF Management Ltd. now owns 1,179,688 shares of the company's stock valued at $54,089,000 after purchasing an additional 523,961 shares during the last quarter. Finally, LBP AM SA purchased a new stake in Birkenstock during the 1st quarter valued at $23,658,000. 19.93% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the company. UBS Group set a $77.00 target price on Birkenstock and gave the company a "buy" rating in a research note on Tuesday, August 5th. Robert W. Baird raised their price target on Birkenstock from $65.00 to $70.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. William Blair restated an "outperform" rating on shares of Birkenstock in a research note on Tuesday, June 3rd. The Goldman Sachs Group upgraded Birkenstock from a "neutral" rating to a "buy" rating and set a $60.00 price target on the stock in a research note on Thursday, July 24th. Finally, Bank of America raised their price target on Birkenstock from $70.00 to $73.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. One research analyst has rated the stock with a Strong Buy rating and thirteen have given a Buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $68.58.

Birkenstock Stock Performance

Birkenstock stock traded up $0.5640 during trading on Thursday, reaching $50.6440. The company had a trading volume of 1,416,347 shares, compared to its average volume of 2,119,046. Birkenstock Holding PLC has a 52 week low of $40.56 and a 52 week high of $64.78. The firm's 50-day simple moving average is $49.89 and its 200 day simple moving average is $50.36. The firm has a market capitalization of $9.51 billion, a price-to-earnings ratio of 28.14, a price-to-earnings-growth ratio of 1.12 and a beta of 1.31. The company has a current ratio of 2.78, a quick ratio of 1.34 and a debt-to-equity ratio of 0.50.

Birkenstock (NYSE:BIRK - Get Free Report) last announced its earnings results on Thursday, August 14th. The company reported $0.70 EPS for the quarter, topping 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 company had revenue of $749.13 million for the quarter, compared to analysts' expectations of $641.18 million. During the same period last year, the firm earned $0.40 EPS. Birkenstock'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. Sell-side analysts forecast that Birkenstock Holding PLC will post 1.77 earnings per share for the current fiscal year.

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.