344,257 Shares in Birkenstock Holding plc (NYSE:BIRK) Purchased by ThornTree Capital Partners LP

ThornTree Capital Partners LP bought a new stake in Birkenstock Holding plc (NYSE:BIRK - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 344,257 shares of the company's stock, valued at approximately $19,506,000. Birkenstock makes up 2.5% of ThornTree Capital Partners LP's holdings, making the stock its 13th largest position. ThornTree Capital Partners LP owned 0.18% of Birkenstock at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Renaissance Capital LLC increased its stake in shares of Birkenstock by 94.0% in the fourth quarter. Renaissance Capital LLC now owns 82,190 shares of the company's stock valued at $4,657,000 after buying an additional 39,831 shares during the period. Oppenheimer & Co. Inc. bought a new stake in Birkenstock during the 4th quarter worth approximately $606,000. Handelsbanken Fonder AB acquired a new position in Birkenstock in the 4th quarter valued at approximately $391,000. Norges Bank bought a new position in shares of Birkenstock during the fourth quarter valued at $131,786,000. Finally, Principal Financial Group Inc. lifted its holdings in shares of Birkenstock by 581.8% during the fourth quarter. Principal Financial Group Inc. now owns 542,798 shares of the company's stock worth $30,755,000 after purchasing an additional 463,191 shares during the period. Institutional investors own 19.93% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. BMO Capital Markets increased their price objective on Birkenstock from $70.00 to $75.00 and gave the company an "outperform" rating in a report on Friday, May 16th. BTIG Research raised their price objective on Birkenstock from $70.00 to $72.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. UBS Group upped their target price on Birkenstock from $72.00 to $76.00 and gave the company a "buy" rating in a report on Friday, May 16th. Stifel Nicolaus boosted their price target on shares of Birkenstock from $62.00 to $70.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Finally, Robert W. Baird upped their price objective on shares of Birkenstock from $65.00 to $70.00 and gave the company an "outperform" rating in a research note on Friday, May 16th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $67.19.

Birkenstock Stock Performance

Birkenstock stock remained flat at $55.01 during midday trading on Thursday. The company had a trading volume of 1,406,525 shares, compared to its average volume of 1,491,839. The business has a 50 day moving average price of $48.99 and a two-hundred day moving average price of $51.84. Birkenstock Holding plc has a twelve month low of $40.56 and a twelve month high of $64.78. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.84 and a quick ratio of 1.08. The company has a market cap of $10.33 billion, a P/E ratio of 44.36, a P/E/G ratio of 1.02 and a beta of 1.56.

Birkenstock (NYSE:BIRK - Get Free Report) last announced its quarterly earnings data on Thursday, May 15th. The company reported $0.58 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.01. Birkenstock had a return on equity of 9.52% and a net margin of 11.73%. The firm had revenue of $623.54 million during the quarter, compared to analysts' expectations of $567.84 million. During the same quarter 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 research analysts predict 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.