Birkenstock Holding plc (NYSE:BIRK) Position Increased by Millennium Management LLC

Millennium Management LLC grew its stake in shares of Birkenstock Holding plc (NYSE:BIRK - Free Report) by 28.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,016,635 shares of the company's stock after acquiring an additional 224,072 shares during the quarter. Millennium Management LLC owned about 0.54% of Birkenstock worth $57,603,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of BIRK. Legal & General Group Plc grew its position in Birkenstock by 12.3% during the fourth quarter. Legal & General Group Plc now owns 3,158 shares of the company's stock valued at $179,000 after acquiring an additional 347 shares during the period. Signaturefd LLC lifted its holdings in shares of Birkenstock by 642.6% during the 4th quarter. Signaturefd LLC now owns 505 shares of the company's stock valued at $29,000 after acquiring an additional 437 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich purchased a new stake in Birkenstock during the 4th quarter worth $34,000. Quarry LP boosted its position in Birkenstock by 120.3% during the 4th quarter. Quarry LP now owns 1,097 shares of the company's stock worth $62,000 after purchasing an additional 599 shares during the period. Finally, Venturi Wealth Management LLC increased its holdings in Birkenstock by 9.3% in the 4th quarter. Venturi Wealth Management LLC now owns 7,292 shares of the company's stock valued at $413,000 after purchasing an additional 622 shares in the last quarter. Institutional investors and hedge funds own 19.93% of the company's stock.

Birkenstock Stock Down 0.2%

Shares of BIRK traded down $0.10 during midday trading on Thursday, hitting $54.91. The company had a trading volume of 229,858 shares, compared to its average volume of 1,487,309. The stock has a market cap of $10.31 billion, a price-to-earnings ratio of 44.31, a PEG ratio of 1.02 and a beta of 1.56. The company's 50 day moving average price is $48.99 and its 200 day moving average price is $51.84. 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 52 week low of $40.56 and a 52 week high of $64.78.

Birkenstock (NYSE:BIRK - Get Free Report) last posted its quarterly earnings results on Thursday, May 15th. The company reported $0.58 EPS for the quarter, topping 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 business had revenue of $623.54 million during the quarter, compared to the consensus estimate of $567.84 million. During the same period last year, the firm earned $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 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Bank of America boosted their price objective on Birkenstock from $70.00 to $73.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Piper Sandler dropped their target price on Birkenstock from $70.00 to $60.00 and set an "overweight" rating on the stock in a report on Friday, April 11th. 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. Evercore ISI lifted 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 Monday. Finally, Stifel Nicolaus upped their target price on shares of Birkenstock from $62.00 to $70.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Two equities research 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 company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target 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.