Riposte Capital LLC Purchases New Stake in Birkenstock Holding PLC (NYSE:BIRK)

Key Points

• Riposte Capital LLC has made a new investment in Birkenstock Holding PLC, acquiring 200,000 shares valued at approximately $9.17 million, which now represents 1.7% of their portfolio.
• Several institutional investors, including Norges Bank and Marshall Wace LLP, have significantly increased their stakes in Birkenstock, driving institutional ownership to 19.93%.
• Research analysts are optimistic about Birkenstock, with thirteen analysts rating the stock as a "buy" and setting an average target price of $68.50.

Riposte Capital LLC purchased a new position in Birkenstock Holding PLC (NYSE:BIRK - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 200,000 shares of the company's stock, valued at approximately $9,170,000. Birkenstock makes up about 1.7% of Riposte Capital LLC's holdings, making the stock its 9th largest position. Riposte Capital LLC owned approximately 0.11% of Birkenstock 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. T. Rowe Price Investment Management Inc. lifted its holdings in Birkenstock by 5.0% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,124,254 shares of the company's stock worth $233,681,000 after buying an additional 194,622 shares in the last quarter. Bamco Inc. NY boosted its stake in Birkenstock by 8.3% during the 4th quarter. Bamco Inc. NY now owns 3,359,351 shares of the company's stock worth $190,341,000 after purchasing an additional 256,844 shares during the period. Norges Bank acquired a new stake in Birkenstock during the 4th quarter worth $131,786,000. Capital World Investors boosted its stake in Birkenstock by 1.1% during the 4th quarter. Capital World Investors now owns 1,490,366 shares of the company's stock worth $84,444,000 after purchasing an additional 16,466 shares during the period. Finally, Alliancebernstein L.P. boosted its holdings in shares of Birkenstock by 27.2% in the fourth quarter. Alliancebernstein L.P. now owns 1,342,214 shares of the company's stock valued at $76,050,000 after acquiring an additional 286,618 shares in the last quarter. 19.93% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. BTIG Research lifted their target price on shares of Birkenstock from $70.00 to $72.00 and gave the company a "buy" rating in a report on Thursday, May 15th. BMO Capital Markets lifted their target price on shares of Birkenstock from $70.00 to $75.00 and gave the company an "outperform" rating in a report on Friday, May 16th. Bank of America lifted their target price on shares of Birkenstock from $70.00 to $73.00 and gave the company a "buy" rating in a report on Friday, May 16th. Piper Sandler lowered their target price on shares of Birkenstock from $70.00 to $60.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. Finally, Evercore ISI lifted their target price on shares of Birkenstock from $65.00 to $70.00 and gave the company an "outperform" rating in a report on Monday, May 19th. Thirteen analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Birkenstock has an average rating of "Buy" and an average price target of $68.50.

Birkenstock Trading Up 0.4%

Shares of NYSE BIRK traded up $0.21 during midday trading on Tuesday, reaching $51.36. 341,561 shares of the stock were exchanged, compared to its average volume of 1,908,020. The company has a market capitalization of $9.65 billion, a P/E ratio of 36.20, a P/E/G ratio of 1.17 and a beta of 1.31. Birkenstock Holding PLC has a 52-week low of $40.56 and a 52-week high of $64.78. The company has a current ratio of 3.06, a quick ratio of 1.34 and a debt-to-equity ratio of 0.47. The stock has a 50 day moving average price of $51.64 and a 200-day moving average price of $51.39.

Birkenstock (NYSE:BIRK - Get Free Report) last issued its quarterly earnings results on Thursday, May 15th. The company reported $0.58 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.01. Birkenstock had a net margin of 12.86% and a return on equity of 10.22%. The business had revenue of $623.54 million during the quarter, compared to the consensus estimate of $567.84 million. During the same period in the previous year, the firm posted $0.38 earnings per share. The company's quarterly revenue was up 19.3% compared to the same quarter last year. Equities research analysts expect 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.