Voya Investment Management LLC Purchases 221,373 Shares of Birkenstock Holding PLC $BIRK

Key Points

• Voya Investment Management LLC increased its holdings in Birkenstock Holding PLC by 87.6%, owning approximately $21.73 million worth of shares after acquiring an additional 221,373 shares.
• Birkenstock's stock has received multiple upgrades from analysts, with Goldman Sachs raising its price target to $60.00 and others setting targets as high as $77.00.
• The company reported better-than-expected earnings in its last quarterly report, with an EPS of $0.70 compared to the consensus estimate of $0.67 and revenue of $749.13 million.

Voya Investment Management LLC grew its position in Birkenstock Holding PLC (NYSE:BIRK - Free Report) by 87.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 473,962 shares of the company's stock after purchasing an additional 221,373 shares during the quarter. Voya Investment Management LLC owned about 0.25% of Birkenstock worth $21,731,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. grew its position in shares of Birkenstock by 25.3% in the first quarter. T. Rowe Price Investment Management Inc. now owns 5,167,145 shares of the company's stock valued at $236,914,000 after purchasing an additional 1,042,891 shares during the last quarter. Westfield Capital Management Co. LP acquired a new stake in Birkenstock during the first quarter worth approximately $72,108,000. AGF Management Ltd. grew its position in Birkenstock by 79.9% during the first quarter. AGF Management Ltd. now owns 1,179,688 shares of the company's stock worth $54,089,000 after buying an additional 523,961 shares in the last quarter. Nuveen LLC acquired a new stake in Birkenstock during the first quarter worth approximately $52,385,000. Finally, Goldman Sachs Group Inc. grew its position in Birkenstock by 27.8% during the first quarter. Goldman Sachs Group Inc. now owns 1,074,283 shares of the company's stock worth $49,256,000 after buying an additional 233,672 shares in the last quarter. Institutional investors and hedge funds own 19.93% of the company's stock.

Birkenstock Trading Up 3.3%

NYSE BIRK traded up $1.54 on Friday, reaching $47.53. The company had a trading volume of 2,917,538 shares, compared to its average volume of 1,621,078. 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 business has a 50 day moving average of $49.57 and a two-hundred day moving average of $49.75. Birkenstock Holding PLC has a fifty-two week low of $40.56 and a fifty-two week high of $62.66. The firm has a market cap of $8.93 billion, a price-to-earnings ratio of 26.41, a P/E/G ratio of 1.02 and a beta of 1.31.

Birkenstock (NYSE:BIRK - Get Free Report) last issued its quarterly earnings results 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. Birkenstock had a return on equity of 11.52% and a net margin of 15.21%.The firm had revenue of $749.13 million during the quarter, compared to the consensus estimate of $641.18 million. During the same period last year, the business posted $0.40 EPS. The business's revenue was up 12.4% compared to the same quarter last year. Birkenstock has set its FY 2025 guidance at EPS. Analysts forecast that Birkenstock Holding PLC will post 1.77 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on BIRK shares. UBS Group set a $77.00 price target on Birkenstock and gave the stock a "buy" rating in a research report on Tuesday, August 5th. 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 report on Thursday, July 24th. William Blair reissued an "outperform" rating on shares of Birkenstock in a research report on Tuesday, June 3rd. Telsey Advisory Group reissued an "outperform" rating and set a $70.00 price target on shares of Birkenstock in a research report on Thursday, August 14th. Finally, JPMorgan Chase & Co. cut their target price on Birkenstock from $81.00 to $66.00 and set an "overweight" rating for the company in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating and fourteen have issued a Buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus price target of $68.38.

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.