AXQ Capital LP Acquires New Holdings in Birkenstock Holding plc (NYSE:BIRK)

AXQ Capital LP purchased a new position in Birkenstock Holding plc (NYSE:BIRK - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 18,728 shares of the company's stock, valued at approximately $1,061,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its stake in Birkenstock by 59.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 6,627 shares of the company's stock worth $327,000 after acquiring an additional 2,473 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in Birkenstock during the 3rd quarter worth approximately $1,048,000. Crestwood Capital Management L.P. grew its holdings in Birkenstock by 20.8% during the 3rd quarter. Crestwood Capital Management L.P. now owns 147,853 shares of the company's stock valued at $7,288,000 after purchasing an additional 25,451 shares in the last quarter. FMR LLC increased its stake in Birkenstock by 61.4% during the 3rd quarter. FMR LLC now owns 2,128,689 shares of the company's stock worth $104,923,000 after buying an additional 809,784 shares during the period. Finally, Quantbot Technologies LP lifted its holdings in Birkenstock by 4.6% in the 3rd quarter. Quantbot Technologies LP now owns 87,288 shares of the company's stock worth $4,302,000 after buying an additional 3,860 shares in the last quarter. Hedge funds and other institutional investors own 19.93% of the company's stock.

Birkenstock Stock Performance

Shares of NYSE:BIRK traded down $0.09 during trading on Wednesday, reaching $47.09. 123,835 shares of the company's stock traded hands, compared to its average volume of 1,237,190. The stock has a market capitalization of $8.84 billion, a P/E ratio of 37.94, a price-to-earnings-growth ratio of 1.02 and a beta of 1.90. Birkenstock Holding plc has a 12 month low of $41.00 and a 12 month high of $64.78. The company has a 50 day moving average of $52.69 and a 200-day moving average of $51.59. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.84 and a quick ratio of 1.08.

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Birkenstock (NYSE:BIRK - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported $0.19 EPS for the quarter, beating the consensus estimate of $0.16 by $0.03. The company had revenue of $385.88 million during 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%. On average, equities analysts expect that Birkenstock Holding plc will post 1.77 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on BIRK. BTIG Research raised their target price on Birkenstock from $60.00 to $70.00 and gave the company a "buy" rating in a research note on Wednesday, December 18th. HSBC upgraded Birkenstock from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $58.00 to $60.00 in a report on Tuesday, December 3rd. Telsey Advisory Group reiterated an "outperform" rating and set a $70.00 target price on shares of Birkenstock in a research note on Thursday, February 20th. Robert W. Baird lifted their price target on shares of Birkenstock from $65.00 to $72.00 and gave the stock an "outperform" rating in a research note on Thursday, December 19th. Finally, Piper Sandler started coverage on shares of Birkenstock in a report on Tuesday, December 10th. They issued an "overweight" rating and a $65.00 price target on the stock. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $68.31.

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.