Tairen Capital Ltd Acquires Shares of 20,000 Birkenstock Holding plc (NYSE:BIRK)

Tairen Capital Ltd acquired a new position in shares of Birkenstock Holding plc (NYSE:BIRK - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 20,000 shares of the company's stock, valued at approximately $1,133,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Legal & General Group Plc increased its stake in Birkenstock by 12.3% during the fourth quarter. Legal & General Group Plc now owns 3,158 shares of the company's stock worth $179,000 after purchasing an additional 347 shares during the period. Malaga Cove Capital LLC increased its stake in Birkenstock by 3.5% during the 4th quarter. Malaga Cove Capital LLC now owns 12,108 shares of the company's stock worth $686,000 after buying an additional 407 shares during the period. Signaturefd LLC lifted its holdings in Birkenstock by 642.6% during the 4th quarter. Signaturefd LLC now owns 505 shares of the company's stock worth $29,000 after buying an additional 437 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new position in Birkenstock in the 4th quarter valued at approximately $34,000. Finally, Quarry LP grew its stake in shares of Birkenstock by 120.3% in the fourth quarter. Quarry LP now owns 1,097 shares of the company's stock worth $62,000 after acquiring an additional 599 shares in the last quarter. Hedge funds and other institutional investors own 19.93% of the company's stock.

Birkenstock Stock Performance

Shares of NYSE BIRK remained flat at $55.01 during trading hours on Thursday. The company had a trading volume of 1,406,903 shares, compared to its average volume of 1,491,840. The stock has a market capitalization of $10.33 billion, a price-to-earnings ratio of 44.36, a price-to-earnings-growth ratio of 1.02 and a beta of 1.56. Birkenstock Holding plc has a 1 year low of $40.56 and a 1 year high of $64.78. The business's fifty day simple moving average is $48.99 and its 200-day simple moving average is $51.84. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.08 and a current ratio of 2.84.

Birkenstock (NYSE:BIRK - Get Free Report) last announced its earnings results on Thursday, May 15th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.01. Birkenstock had a net margin of 11.73% and a return on equity of 9.52%. The business had revenue of $623.54 million for the quarter, compared to analyst estimates of $567.84 million. During the same period last year, the firm posted $0.38 earnings per share. The company's revenue for the quarter was up 19.3% compared to the same quarter last year. On average, equities analysts predict that Birkenstock Holding plc will post 1.77 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BIRK. Stifel Nicolaus lifted their target price on Birkenstock from $62.00 to $70.00 and gave the company a "buy" rating in a report on Friday, May 16th. Evercore ISI lifted their price objective on Birkenstock from $65.00 to $70.00 and gave the company an "outperform" rating in a research note on Monday. BMO Capital Markets upped their target price on shares of Birkenstock from $70.00 to $75.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Piper Sandler lowered their price target on shares of Birkenstock from $70.00 to $60.00 and set an "overweight" rating for the company in a report on Friday, April 11th. Finally, BTIG Research increased their price objective on shares of Birkenstock from $70.00 to $72.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $67.19.

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.