Venturi Wealth Management LLC Raises Stock Holdings in Birkenstock Holding PLC $BIRK

Venturi Wealth Management LLC boosted its stake in Birkenstock Holding PLC (NYSE:BIRK) by 32.9% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 13,414 shares of the company’s stock after acquiring an additional 3,318 shares during the period. Venturi Wealth Management LLC’s holdings in Birkenstock were worth $660,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BIRK. Westfield Capital Management Co. LP purchased a new stake in Birkenstock in the 1st quarter valued at about $72,108,000. Nuveen LLC purchased a new stake in Birkenstock in the 1st quarter valued at about $52,385,000. T. Rowe Price Investment Management Inc. raised its holdings in Birkenstock by 25.3% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 5,167,145 shares of the company’s stock valued at $236,914,000 after buying an additional 1,042,891 shares during the period. Swedbank AB purchased a new stake in Birkenstock in the 1st quarter valued at about $45,850,000. Finally, Alua Capital Management LP purchased a new stake in Birkenstock in the 1st quarter valued at about $33,723,000. 19.93% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $70.00 target price on shares of Birkenstock in a research report on Friday, September 26th. UBS Group set a $77.00 target price on Birkenstock and gave the company a “buy” rating in a research report on Tuesday, August 5th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Birkenstock in a research report on Wednesday. JPMorgan Chase & Co. dropped their target price on Birkenstock from $81.00 to $66.00 and set an “overweight” rating for the company in a research report on Friday, September 19th. Finally, The Goldman Sachs Group raised Birkenstock from a “neutral” rating to a “buy” rating and set a $60.00 target price for the company in a research report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $68.38.

Birkenstock Stock Performance

Shares of Birkenstock stock opened at $43.51 on Friday. Birkenstock Holding PLC has a one year low of $40.56 and a one year high of $62.66. The company has a market cap of $8.17 billion, a PE ratio of 24.17, a P/E/G ratio of 0.84 and a beta of 1.22. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.29 and a current ratio of 2.78. The business has a 50-day simple moving average of $48.22 and a 200-day simple moving average of $49.75.

Birkenstock (NYSE:BIRK) last announced its quarterly earnings data on Thursday, August 14th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.67 by $0.03. Birkenstock had a return on equity of 11.52% and a net margin of 15.21%.The business had revenue of $749.13 million during the quarter, compared to the consensus estimate of $641.18 million. During the same period in the previous year, the company posted $0.40 earnings per share. The business’s revenue for the quarter was up 12.4% on a year-over-year basis. Birkenstock has set its FY 2025 guidance at EPS. On average, equities research analysts forecast that Birkenstock Holding PLC will post 1.77 EPS for the current fiscal year.

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.