Shellback Capital LP Grows Position in Birkenstock Holding plc (NYSE:BIRK)

Shellback Capital LP lifted its position in shares of Birkenstock Holding plc (NYSE:BIRK) by 26.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 120,700 shares of the company’s stock after buying an additional 25,000 shares during the period. Shellback Capital LP owned approximately 0.06% of Birkenstock worth $6,839,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in BIRK. Oak Thistle LLC purchased a new stake in Birkenstock during the fourth quarter valued at about $458,000. R Squared Ltd purchased a new stake in shares of Birkenstock during the 4th quarter worth about $143,000. Renaissance Capital LLC increased its position in Birkenstock by 94.0% during the 4th quarter. Renaissance Capital LLC now owns 82,190 shares of the company’s stock worth $4,657,000 after purchasing an additional 39,831 shares in the last quarter. True Vision MN LLC acquired a new stake in Birkenstock during the 4th quarter worth approximately $502,000. Finally, Vontobel Holding Ltd. purchased a new position in Birkenstock in the fourth quarter valued at approximately $461,000. 19.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have commented on BIRK shares. BTIG Research raised their price objective on Birkenstock from $70.00 to $72.00 and gave the company a “buy” rating in a research report on Thursday. Stifel Nicolaus reduced their price target on Birkenstock from $70.00 to $62.00 and set a “buy” rating on the stock in a research report on Thursday, April 10th. Piper Sandler decreased their price target on Birkenstock from $70.00 to $60.00 and set an “overweight” rating for the company in a report on Friday, April 11th. Telsey Advisory Group reiterated an “outperform” rating and set a $70.00 price objective on shares of Birkenstock in a research note on Thursday. Finally, UBS Group upped their target price on shares of Birkenstock from $68.00 to $72.00 and gave the company a “buy” rating in a research note on Monday, May 5th. Two equities research 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 company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $66.19.

Birkenstock Stock Performance

Shares of BIRK opened at $57.72 on Friday. Birkenstock Holding plc has a 12-month low of $40.56 and a 12-month high of $64.78. The business’s fifty day moving average price is $48.09 and its 200 day moving average price is $51.58. 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 stock has a market capitalization of $10.84 billion, a PE ratio of 46.55, a price-to-earnings-growth ratio of 1.02 and a beta of 1.56.

Birkenstock (NYSE:BIRK) last issued its earnings results on Thursday, February 20th. The company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.03. The firm had revenue of $385.88 million for the quarter, compared to analyst estimates of $355.80 million. Birkenstock had a return on equity of 9.52% and a net margin of 11.73%. Equities research analysts forecast that Birkenstock Holding plc will post 1.77 EPS for the current year.

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.