Renaissance Capital LLC Purchases 19,677 Shares of Birkenstock Holding plc (NYSE:BIRK)

Oct 17, 2024

Renaissance Capital LLC increased its position in shares of Birkenstock Holding plc (NYSE:BIRK - Free Report) by 86.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,359 shares of the company's stock after acquiring an additional 19,677 shares during the period. Birkenstock comprises 1.4% of Renaissance Capital LLC's holdings, making the stock its 18th largest holding. Renaissance Capital LLC's holdings in Birkenstock were worth $2,088,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Millennium Management LLC bought a new position in shares of Birkenstock in the second quarter worth about $61,972,000. Ghisallo Capital Management LLC lifted its stake in Birkenstock by 800.0% in the 2nd quarter. Ghisallo Capital Management LLC now owns 900,000 shares of the company's stock valued at $48,969,000 after purchasing an additional 800,000 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Birkenstock by 30.4% in the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,000,000 shares of the company's stock valued at $163,230,000 after purchasing an additional 700,000 shares during the last quarter. D. E. Shaw & Co. Inc. acquired a new stake in Birkenstock in the second quarter valued at approximately $25,098,000. Finally, Interval Partners LP grew its stake in shares of Birkenstock by 240.6% during the second quarter. Interval Partners LP now owns 624,871 shares of the company's stock worth $33,999,000 after buying an additional 441,419 shares during the last quarter. 19.93% of the stock is owned by institutional investors.

Several research firms recently weighed in on BIRK. Stifel Nicolaus raised their price objective on Birkenstock from $63.00 to $70.00 and gave the company a "buy" rating in a report on Friday, August 23rd. BTIG Research started coverage on Birkenstock in a research note on Thursday, October 10th. They set a "buy" rating and a $60.00 price target on the stock. Citigroup began coverage on Birkenstock in a report on Monday, July 1st. They set a "buy" rating and a $65.00 price target on the stock. Telsey Advisory Group reiterated an "outperform" rating and issued a $70.00 price objective on shares of Birkenstock in a report on Tuesday, September 24th. Finally, BNP Paribas assumed coverage on shares of Birkenstock in a report on Thursday, June 20th. They set an "outperform" rating and a $68.00 target price on the stock. Four research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $62.11.

View Our Latest Analysis on Birkenstock

NYSE BIRK traded down $0.44 during trading hours on Wednesday, hitting $50.00. 59,104 shares of the company's stock were exchanged, compared to its average volume of 1,021,729. The firm has a market cap of $9.39 billion and a price-to-earnings ratio of 82.69. The stock has a 50-day simple moving average of $52.30 and a 200 day simple moving average of $51.81. The company has a current ratio of 2.91, a quick ratio of 1.49 and a debt-to-equity ratio of 0.55. Birkenstock Holding plc has a 1-year low of $36.50 and a 1-year high of $64.78.

Birkenstock (NYSE:BIRK - Get Free Report) last released its quarterly earnings data on Thursday, August 29th. The company reported $0.49 earnings per share for the quarter, missing the consensus estimate of $0.56 by ($0.07). Birkenstock had a net margin of 6.26% and a return on equity of 5.79%. The company had revenue of $564.76 million during the quarter, compared to the consensus estimate of $628.70 million. On average, equities analysts forecast that Birkenstock Holding plc will post 1.39 EPS for the current fiscal year.

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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