Woodline Partners LP Buys 107,981 Shares of Birkenstock Holding plc (NYSE:BIRK)

Woodline Partners LP increased its holdings in shares of Birkenstock Holding plc (NYSE:BIRK - Free Report) by 129.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 191,219 shares of the company's stock after purchasing an additional 107,981 shares during the quarter. Woodline Partners LP owned 0.10% of Birkenstock worth $10,834,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Renaissance Capital LLC grew its position in 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 acquiring an additional 39,831 shares in the last quarter. Oppenheimer & Co. Inc. acquired a new stake in Birkenstock in the fourth quarter valued at approximately $606,000. Handelsbanken Fonder AB acquired a new stake in Birkenstock in the fourth quarter valued at approximately $391,000. Norges Bank acquired a new stake in Birkenstock in the fourth quarter valued at approximately $131,786,000. Finally, Principal Financial Group Inc. grew its position in Birkenstock by 581.8% in the fourth quarter. Principal Financial Group Inc. now owns 542,798 shares of the company's stock valued at $30,755,000 after acquiring an additional 463,191 shares in the last quarter. Institutional investors and hedge funds own 19.93% of the company's stock.

Birkenstock Price Performance

NYSE:BIRK traded up $0.34 during trading hours on Wednesday, reaching $54.52. The company had a trading volume of 319,238 shares, compared to its average volume of 1,784,235. The company has a quick ratio of 1.08, a current ratio of 2.84 and a debt-to-equity ratio of 0.48. Birkenstock Holding plc has a one year low of $40.56 and a one year high of $64.78. The firm has a market capitalization of $10.24 billion, a PE ratio of 43.97, a PEG ratio of 1.02 and a beta of 1.56. The stock has a 50-day moving average of $49.72 and a two-hundred day moving average of $52.09.

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

Analyst Ratings Changes

Several brokerages have issued reports on BIRK. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $70.00 price objective on shares of Birkenstock in a research report on Thursday, May 15th. Stifel Nicolaus raised 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. Bank of America raised their price target on shares of Birkenstock from $70.00 to $73.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Evercore ISI raised their price target on shares of Birkenstock from $65.00 to $70.00 and gave the stock an "outperform" rating in a research report on Monday, May 19th. Finally, Robert W. Baird raised their price target on shares of Birkenstock from $65.00 to $70.00 and gave the stock an "outperform" rating in a research report on Friday, May 16th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Birkenstock has a consensus rating of "Moderate Buy" and a consensus price target of $67.19.

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.