Birkenstock Holding PLC $BIRK Stake Lifted by T. Rowe Price Investment Management Inc.

Key Points

• T. Rowe Price Investment Management Inc. increased its holdings in Birkenstock Holding PLC by 25.3% during Q1, owning approximately 2.75% of the company with a value of $236.9 million.
• A number of institutional investors significantly raised their stakes in Birkenstock, with PNC Financial Services Group increasing its stake by 2,514.6% and other firms like Principal Financial Group and AGF Management boosting their positions by 37.6% and 79.9% respectively.
• Birkenstock reported earnings of $0.70 per share for the last quarter, surpassing expectations, and analysts predict a future EPS of 1.77 for FY 2025.

T. Rowe Price Investment Management Inc. boosted its holdings in Birkenstock Holding PLC (NYSE:BIRK - Free Report) by 25.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 5,167,145 shares of the company's stock after buying an additional 1,042,891 shares during the period. T. Rowe Price Investment Management Inc. owned 2.75% of Birkenstock worth $236,914,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Signaturefd LLC lifted its stake in shares of Birkenstock by 66.5% in the 1st quarter. Signaturefd LLC now owns 841 shares of the company's stock valued at $39,000 after purchasing an additional 336 shares in the last quarter. NewEdge Advisors LLC acquired a new position in shares of Birkenstock in the 4th quarter valued at about $45,000. Quarry LP lifted its stake in shares of Birkenstock by 120.3% in the 4th quarter. Quarry LP now owns 1,097 shares of the company's stock valued at $62,000 after purchasing an additional 599 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in shares of Birkenstock by 112.0% in the 4th quarter. JPMorgan Chase & Co. now owns 1,338 shares of the company's stock valued at $76,000 after purchasing an additional 707 shares in the last quarter. Finally, CWM LLC lifted its stake in shares of Birkenstock by 34.8% in the 1st quarter. CWM LLC now owns 3,133 shares of the company's stock valued at $144,000 after purchasing an additional 809 shares in the last quarter. 19.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BIRK has been the topic of several analyst reports. Telsey Advisory Group reiterated an "outperform" rating and set a $70.00 target price on shares of Birkenstock in a report on Thursday, August 14th. William Blair reiterated an "outperform" rating on shares of Birkenstock in a report on Tuesday, June 3rd. BTIG Research raised their target price on Birkenstock from $70.00 to $72.00 and gave the company a "buy" rating in a report on Thursday, May 15th. 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. Finally, BMO Capital Markets raised their target price on Birkenstock from $70.00 to $75.00 and gave the company an "outperform" rating in a report on Friday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating and thirteen have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $68.58.

Birkenstock Stock Performance

Shares of NYSE BIRK traded down $0.7230 during trading on Monday, reaching $52.6770. The stock had a trading volume of 704,736 shares, compared to its average volume of 1,933,226. Birkenstock Holding PLC has a one year low of $40.56 and a one year high of $64.78. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.29 and a current ratio of 2.78. The stock has a market cap of $9.89 billion, a PE ratio of 29.25, a P/E/G ratio of 1.19 and a beta of 1.31. The firm's 50 day moving average price is $49.93 and its two-hundred day moving average price is $50.25.

Birkenstock (NYSE:BIRK - Get Free Report) last announced its quarterly earnings data on Thursday, August 14th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.67 by $0.03. Birkenstock had a return on equity of 11.52% and a net margin of 15.21%.The firm had revenue of $749.13 million for the quarter, compared to analysts' expectations of $641.18 million. During the same period last year, the business posted $0.40 earnings per share. The firm's revenue for the quarter was up 12.4% on a year-over-year basis. Birkenstock has set its FY 2025 guidance at EPS. On average, research analysts forecast that Birkenstock Holding PLC will post 1.77 earnings per share for the current fiscal year.

Birkenstock 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.