Roubaix Capital LLC Acquires New Stake in Birkenstock Holding plc (NYSE:BIRK)

Roubaix Capital LLC bought a new position in Birkenstock Holding plc (NYSE:BIRK) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 91,370 shares of the company’s stock, valued at approximately $4,504,000. Birkenstock makes up approximately 2.5% of Roubaix Capital LLC’s portfolio, making the stock its 15th biggest holding.

Other institutional investors have also recently modified their holdings of the company. Millennium Management LLC bought a new position in shares of Birkenstock in the second quarter worth approximately $61,972,000. Ghisallo Capital Management LLC lifted its position 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 acquiring an additional 800,000 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Birkenstock by 30.4% during 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. bought a new stake in shares of Birkenstock in the 2nd quarter worth $25,098,000. Finally, Interval Partners LP raised its stake in shares of Birkenstock by 240.6% in the second quarter. Interval Partners LP now owns 624,871 shares of the company’s stock worth $33,999,000 after purchasing an additional 441,419 shares during the last quarter. 19.93% of the stock is owned by hedge funds and other institutional investors.

Birkenstock Stock Down 2.0 %

Shares of BIRK stock opened at $46.75 on Thursday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.91 and a quick ratio of 1.49. Birkenstock Holding plc has a one year low of $37.98 and a one year high of $64.78. The company’s fifty day moving average price is $50.00 and its 200-day moving average price is $52.18. The company has a market capitalization of $8.78 billion and a price-to-earnings ratio of 76.64.

Birkenstock (NYSE:BIRK) last posted its quarterly earnings results on Thursday, August 29th. The company reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.56 by ($0.07). The business had revenue of $564.76 million for the quarter, compared to the consensus estimate of $628.70 million. Birkenstock had a net margin of 6.26% and a return on equity of 5.79%. Sell-side analysts expect that Birkenstock Holding plc will post 1.39 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Bank of America upgraded Birkenstock from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $62.00 to $65.00 in a report on Thursday, July 25th. Evercore ISI reissued an “outperform” rating and set a $77.00 price objective (up from $63.00) on shares of Birkenstock in a report on Monday, August 26th. BMO Capital Markets restated an “outperform” rating and issued a $60.00 target price on shares of Birkenstock in a report on Friday, August 30th. BTIG Research set a $60.00 target price on shares of Birkenstock and gave the stock a “buy” rating in a research report on Friday, October 18th. Finally, Stifel Nicolaus increased their price target on Birkenstock from $63.00 to $70.00 and gave the company a “buy” rating in a report on Friday, August 23rd. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Birkenstock currently has an average rating of “Moderate Buy” and a consensus price target of $62.11.

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.