Woodline Partners LP Grows Stock Holdings in Birkenstock Holding plc (NYSE:BIRK)

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

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Tairen Capital Ltd acquired a new position in Birkenstock during the fourth quarter worth $1,133,000. ThornTree Capital Partners LP purchased a new position in shares of Birkenstock during the 4th quarter worth $19,506,000. Shellback Capital LP boosted its position in shares of Birkenstock by 26.1% during the 4th quarter. Shellback Capital LP now owns 120,700 shares of the company's stock valued at $6,839,000 after acquiring an additional 25,000 shares during the last quarter. Point72 Hong Kong Ltd purchased a new stake in shares of Birkenstock in the fourth quarter valued at about $377,000. Finally, Malaga Cove Capital LLC grew its holdings in shares of Birkenstock by 3.5% in the fourth quarter. Malaga Cove Capital LLC now owns 12,108 shares of the company's stock valued at $686,000 after purchasing an additional 407 shares during the period. Institutional investors and hedge funds own 19.93% of the company's stock.

Birkenstock Stock Performance

Shares of Birkenstock stock opened at $55.01 on Friday. 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. 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 business has a 50-day moving average of $49.20 and a 200 day moving average of $51.90. Birkenstock Holding plc has a 12 month low of $40.56 and a 12 month high of $64.78.

Birkenstock (NYSE:BIRK - Get Free Report) last issued 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 business had revenue of $623.54 million for the quarter, compared to analysts' expectations of $567.84 million. Birkenstock had a net margin of 11.73% and a return on equity of 9.52%. The business's quarterly revenue was up 19.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.38 earnings per share. As a group, sell-side analysts forecast that Birkenstock Holding plc will post 1.77 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. Piper Sandler decreased their target price on shares of Birkenstock from $70.00 to $60.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. Evercore ISI lifted their price target on shares of Birkenstock from $65.00 to $70.00 and gave the company an "outperform" rating in a research report on Monday. Bank of America upped their price objective on Birkenstock from $70.00 to $73.00 and gave the company a "buy" rating in a report on Friday, May 16th. Robert W. Baird raised their target price on Birkenstock from $65.00 to $70.00 and gave the stock an "outperform" rating in a research note on Friday, May 16th. Finally, Stifel Nicolaus upped their price target on Birkenstock from $62.00 to $70.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Two analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $67.19.

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.

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