ThornTree Capital Partners LP Makes New $19.51 Million Investment in Birkenstock Holding plc (NYSE:BIRK)

ThornTree Capital Partners LP bought a new position in Birkenstock Holding plc (NYSE:BIRK) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 344,257 shares of the company’s stock, valued at approximately $19,506,000. Birkenstock accounts for about 2.5% of ThornTree Capital Partners LP’s investment portfolio, making the stock its 13th largest holding. ThornTree Capital Partners LP owned about 0.18% of Birkenstock as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of BIRK. Norges Bank purchased a new stake in Birkenstock in the fourth quarter worth $131,786,000. Marshall Wace LLP grew its position in shares of Birkenstock by 260.5% during the 4th quarter. Marshall Wace LLP now owns 1,100,692 shares of the company’s stock worth $62,365,000 after buying an additional 795,382 shares in the last quarter. AGF Management Ltd. bought a new position in shares of Birkenstock during the 4th quarter worth $37,153,000. AXA S.A. bought a new position in shares of Birkenstock during the 4th quarter worth $29,050,000. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Birkenstock by 9,658.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 470,182 shares of the company’s stock worth $26,641,000 after buying an additional 465,364 shares in the last quarter. Hedge funds and other institutional investors own 19.93% of the company’s stock.

Birkenstock Price Performance

Shares of BIRK stock opened at $56.70 on Friday. Birkenstock Holding plc has a 1-year low of $40.56 and a 1-year high of $64.78. The stock’s 50-day moving average is $48.32 and its 200 day moving average is $51.68. The company has a market cap of $10.65 billion, a P/E ratio of 45.73, a PEG ratio of 1.02 and a beta of 1.56. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.84 and a quick ratio of 1.08.

Birkenstock (NYSE:BIRK) last issued its quarterly earnings results on Thursday, May 15th. The company reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.01. The business had revenue of $623.54 million during the quarter, compared to the consensus estimate of $567.84 million. Birkenstock had a return on equity of 9.52% and a net margin of 11.73%. Research analysts predict that Birkenstock Holding plc will post 1.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BIRK has been the topic of a number of recent research reports. BMO Capital Markets increased their price target on Birkenstock from $70.00 to $75.00 and gave the stock an “outperform” rating in a research report on Friday. Telsey Advisory Group reissued an “outperform” rating and set a $70.00 price target on shares of Birkenstock in a research report on Thursday. Piper Sandler dropped their price target on Birkenstock from $70.00 to $60.00 and set an “overweight” rating on the stock in a research report on Friday, April 11th. Bank of America increased their price target on Birkenstock from $70.00 to $73.00 and gave the stock a “buy” rating in a research report on Friday. Finally, UBS Group increased their price target on Birkenstock from $72.00 to $76.00 and gave the stock a “buy” rating in a research report on Friday. Two investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Birkenstock presently has a consensus rating of “Moderate Buy” and an average target price of $67.63.

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.