ExodusPoint Capital Management LP Raises Stock Holdings in Birkenstock Holding plc (NYSE:BIRK)

ExodusPoint Capital Management LP grew its holdings in shares of Birkenstock Holding plc (NYSE:BIRK - Free Report) by 244.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 56,365 shares of the company's stock after purchasing an additional 40,010 shares during the quarter. ExodusPoint Capital Management LP's holdings in Birkenstock were worth $3,194,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in BIRK. Norges Bank purchased a new position in Birkenstock in the fourth quarter valued at approximately $131,786,000. AGF Management Ltd. bought a new position in shares of Birkenstock in the fourth quarter valued at approximately $37,153,000. Arrowstreet Capital Limited Partnership grew its stake in Birkenstock by 9,658.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 470,182 shares of the company's stock valued at $26,641,000 after acquiring an additional 465,364 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Birkenstock by 581.8% during the 4th quarter. Principal Financial Group Inc. now owns 542,798 shares of the company's stock valued at $30,755,000 after purchasing an additional 463,191 shares in the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of Birkenstock by 27.2% in the fourth quarter. Alliancebernstein L.P. now owns 1,342,214 shares of the company's stock worth $76,050,000 after buying an additional 286,618 shares in the last quarter. Institutional investors own 19.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on BIRK shares. Stifel Nicolaus cut their price target on shares of Birkenstock from $70.00 to $62.00 and set a "buy" rating for the company in a research note on Thursday. Robert W. Baird boosted their target price on Birkenstock from $65.00 to $72.00 and gave the company an "outperform" rating in a research note on Thursday, December 19th. BTIG Research lifted their target price on shares of Birkenstock from $60.00 to $70.00 and gave the stock a "buy" rating in a research note on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft boosted their price target on Birkenstock from $65.00 to $66.00 and gave the company a "buy" rating in a report on Thursday, December 19th. Finally, Piper Sandler dropped their price target on Birkenstock from $70.00 to $60.00 and set an "overweight" rating for the company in a research note on Friday. Two 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. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $67.50.

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Birkenstock Stock Up 1.7 %

NYSE:BIRK traded up $0.81 during trading hours on Friday, reaching $48.06. 2,037,828 shares of the company traded hands, compared to its average volume of 1,345,475. Birkenstock Holding plc has a 1 year low of $40.56 and a 1 year high of $64.78. The stock has a market capitalization of $9.03 billion, a P/E ratio of 38.76, a P/E/G ratio of 1.02 and a beta of 1.71. The business's 50-day moving average price is $48.71 and its two-hundred day moving average price is $51.38. The company has a current ratio of 2.84, a quick ratio of 1.08 and a debt-to-equity ratio of 0.48.

Birkenstock (NYSE:BIRK - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The company reported $0.19 earnings per share for the quarter, beating analysts' consensus estimates of $0.16 by $0.03. The business had revenue of $385.88 million during the quarter, compared to analyst estimates of $355.80 million. Birkenstock had a net margin of 11.73% and a return on equity of 9.52%. Analysts predict that Birkenstock Holding plc will post 1.77 earnings per share 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.