Strs Ohio Buys New Stake in Birkenstock Holding PLC $BIRK

Key Points

• Strs Ohio has invested approximately $1.13 million in Birkenstock Holding PLC, acquiring 24,729 shares in the first quarter.
• Several institutional investors have significantly increased their stakes in Birkenstock, with GAMMA Investing LLC raising its holdings by 3,914.1% in the same period.
• Analysts maintain a consensus “Buy” rating on Birkenstock with a price target of $68.58, following a strong quarterly earnings report that beat consensus estimates.

Strs Ohio bought a new stake in Birkenstock Holding PLC (NYSE:BIRK - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 24,729 shares of the company's stock, valued at approximately $1,134,000.

Several other hedge funds have also recently modified their holdings of BIRK. Northern Trust Corp lifted its stake in shares of Birkenstock by 11.1% in the fourth quarter. Northern Trust Corp now owns 75,027 shares of the company's stock worth $4,251,000 after buying an additional 7,498 shares in the last quarter. Deutsche Bank AG boosted its holdings in shares of Birkenstock by 1,564.2% during the 4th quarter. Deutsche Bank AG now owns 50,343 shares of the company's stock worth $2,852,000 after purchasing an additional 47,318 shares during the last quarter. Woodline Partners LP grew its position in shares of Birkenstock by 129.7% in the fourth quarter. Woodline Partners LP now owns 191,219 shares of the company's stock valued at $10,834,000 after purchasing an additional 107,981 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Birkenstock by 170.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 72,538 shares of the company's stock valued at $4,110,000 after purchasing an additional 45,700 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Birkenstock by 3,914.1% in the first quarter. GAMMA Investing LLC now owns 30,949 shares of the company's stock valued at $1,419,000 after purchasing an additional 30,178 shares during the last quarter. Institutional investors and hedge funds own 19.93% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on BIRK shares. JPMorgan Chase & Co. lowered their price objective on Birkenstock from $81.00 to $66.00 and set an "overweight" rating on the stock in a research note on Friday. William Blair reissued an "outperform" rating on shares of Birkenstock in a research report on Tuesday, June 3rd. UBS Group set a $77.00 price objective on shares of Birkenstock and gave the company a "buy" rating in a report on Tuesday, August 5th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $70.00 target price on shares of Birkenstock in a research note on Thursday, August 14th. Finally, The Goldman Sachs Group raised shares of Birkenstock from a "neutral" rating to a "buy" rating and set a $60.00 price target for the company in a research note on Thursday, July 24th. One equities research analyst has rated the stock with a Strong Buy rating and fourteen have assigned a Buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $68.38.

Birkenstock Stock Down 2.0%

Shares of NYSE BIRK traded down $0.94 during midday trading on Monday, hitting $46.73. The company's stock had a trading volume of 2,484,206 shares, compared to its average volume of 1,670,014. The company has a debt-to-equity ratio of 0.50, a current ratio of 2.78 and a quick ratio of 1.29. The firm has a market capitalization of $8.78 billion, a price-to-earnings ratio of 25.96, a price-to-earnings-growth ratio of 1.06 and a beta of 1.31. The business's fifty day simple moving average is $49.55 and its two-hundred day simple moving average is $49.80. Birkenstock Holding PLC has a 1 year low of $40.56 and a 1 year high of $62.66.

Birkenstock (NYSE:BIRK - Get Free Report) last released its earnings results on Thursday, August 14th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.67 by $0.03. The company had revenue of $749.13 million for the quarter, compared to analyst estimates of $641.18 million. Birkenstock had a net margin of 15.21% and a return on equity of 11.52%. The firm's quarterly revenue was up 12.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.40 EPS. Birkenstock has set its FY 2025 guidance at EPS. On average, equities analysts predict 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.