Shellback Capital LP Trims Stock Holdings in Birkenstock Holding PLC $BIRK

Key Points

• Shellback Capital LP reduced its stake in Birkenstock Holding PLC by 17.1%, now holding 100,000 shares valued at approximately $4.59 million.
• Several institutional investors increased their stakes in Birkenstock, with T. Rowe Price boosting its holdings by 25.3% to over 5 million shares.
• Birkenstock reported strong earnings, with a quarterly revenue of $749.13 million, exceeding estimates by more than $100 million.

Shellback Capital LP trimmed its position in shares of Birkenstock Holding PLC (NYSE:BIRK - Free Report) by 17.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 100,000 shares of the company's stock after selling 20,700 shares during the period. Shellback Capital LP owned about 0.05% of Birkenstock worth $4,585,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of BIRK. Westfield Capital Management Co. LP purchased a new position in shares of Birkenstock during the 1st quarter valued at about $72,108,000. Nuveen LLC purchased a new position in shares of Birkenstock during the 1st quarter valued at about $52,385,000. T. Rowe Price Investment Management Inc. raised its holdings in shares of Birkenstock by 25.3% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,167,145 shares of the company's stock valued at $236,914,000 after buying an additional 1,042,891 shares in the last quarter. Alua Capital Management LP purchased a new position in shares of Birkenstock during the 1st quarter valued at about $33,723,000. Finally, AGF Management Ltd. raised its holdings in shares of 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 buying an additional 523,961 shares in the last quarter. 19.93% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Bank of America raised their price objective on Birkenstock from $70.00 to $73.00 and gave the company a "buy" rating in a report on Friday, May 16th. William Blair reaffirmed an "outperform" rating on shares of Birkenstock in a research note on Tuesday, June 3rd. The Goldman Sachs Group raised 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. BMO Capital Markets lifted their price target on Birkenstock from $70.00 to $75.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Finally, Evercore ISI lifted their price target on Birkenstock from $65.00 to $70.00 and gave the stock an "outperform" rating in a research note on Monday, May 19th. One research analyst has rated the stock with a Strong Buy rating and thirteen have assigned a Buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $68.58.

Birkenstock Trading Up 1.2%

Shares of BIRK stock traded up $0.58 during trading hours on Thursday, reaching $47.46. The company's stock had a trading volume of 643,092 shares, compared to its average volume of 1,900,620. The stock has a market capitalization of $8.91 billion, a P/E ratio of 26.36, a P/E/G ratio of 1.06 and a beta of 1.31. Birkenstock Holding PLC has a one year low of $40.56 and a one year high of $62.66. The firm's fifty day simple moving average is $49.88 and its 200 day simple moving average is $49.91. 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 (NYSE:BIRK - Get Free Report) last issued its quarterly earnings data on Thursday, August 14th. The company reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.67 by $0.03. The firm had revenue of $749.13 million for the quarter, compared to analyst estimates of $641.18 million. Birkenstock had a return on equity of 11.52% and a net margin of 15.21%.The business's quarterly revenue was up 12.4% compared to the same quarter last year. During the same period last year, the company earned $0.40 EPS. Birkenstock has set its FY 2025 guidance at EPS. Equities research analysts expect that Birkenstock Holding PLC will post 1.77 EPS for the current 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.