Streetbeat News

BIRK

Birkenstock Holding plc

Industry

Apparel - Footwear & Accessories

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. Birkenstock Holding plc was founded in 1774 and is based in London, the United Kingdom. Birkenstock Holding plc is a subsidiary of BK LC Lux MidCo S.à r.l.

Open

46.67

Mkt cap

8.7B

Volume

253K

High

47.04

P/E Ratio

73.40

52-wk high

64.78

Low

46.07

Div yield

N/A

52-wk low

38.50

Major U.S. stock indices ended in the green on Wednesday, with the Nasdaq Composite marking notable gains. Tempest Therapeutics soared by 1470.83% after unveiling updated results from an ongoing Phase 1b/2 study. Microsoft experienced a 1.23% increase after unveiling new AI initiatives aimed at supporting the healthcare industry. Birkenstock faced a downturn of -12.61% after its IPO. Novo Nordisk marked a 6.27% increase after halting the FLOW trial early due to promising results. Tesla saw a slight decline of -0.24% after unveiling a new video ad campaign.

Portfolio Pulse from Benzinga Neuro

October 12, 2023 | 2:16 am

Birkenstock's IPO shares have started trading at $41 per share, which is lower than the IPO price of $46 per share.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 5:33 pm

Birkenstock Holding's shares are expected to open between $40-$41, lower than the initial public offering (IPO) price of $46, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 5:15 pm

Birkenstock Holding's shares are expected to open between $39-$41, lower than the IPO price of $46, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 4:17 pm

German shoemaker Birkenstock Holding Plc (NYSE:BIRK) is set to debut on the NYSE after pricing its IPO at $46 per share, targeting a valuation of approximately $8.6 billion. The company plans to use the proceeds to repay borrowings and for general corporate purposes. Birkenstock sold approximately 30 million units in 2022, generating revenue of 1.24 billion euros ($1.32 billion) and net profit of 187 million euros on gross margins of 60%. The company's financial performance is largely dependent on brand perception, with risks including negative consumer perception, supply chain problems, and increasing competition from companies like Nike Inc (NYSE:NKE), Crocs Inc (NASDAQ:CROX), and Deckers Outdoor Corp (NYSE:DECK).

Portfolio Pulse from Adam Eckert

October 11, 2023 | 3:44 pm

Birkenstock Holding's shares are expected to open between $46 and $48, compared to its IPO price of $46, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

October 11, 2023 | 2:46 pm

German shoemaker Birkenstock has priced its IPO at $46 per share, resulting in a market valuation of around $8.6 billion. The company plans to offer approximately 32 million shares within a price range of $44 to $49 per share. The IPO is the first major listing to challenge the new-issue market's stability since last month. The performance of Birkenstock's stock will likely shape the sentiment and direction of the IPO market. The company is scheduled to commence trading on the NYSE under the BIRK symbol.

Portfolio Pulse from Vandana Singh

October 11, 2023 | 11:42 am

Stock futures traded higher on Wednesday amid hopes that the Federal Reserve may announce a pause at the month-end’s rate-setting meeting. The Nasdaq Composite, S&P 500, and Dow Industrials Average posted gains for the third consecutive session. The SPDR S&P 500 ETF Trust (NYSE:SPY) gained 0.29% to $435.79 and the Invesco QQQ ETF (NASDAQ:QQQ) rose 0.40% to $370.08 in premarket trading. Novo Nordisk A/S (NYSE:NVO) rose over 2.50% in premarket trading after stopping a trial for renal impairment in people with type 2 diabetes and chronic kidney disease, which sent shares of DaVita, Inc. (NYSE:DVA) down by about 16%. Birkenstock (NYSE:BIRK) is set to debut on the NYSE.

Portfolio Pulse from Shanthi Rexaline

October 11, 2023 | 11:41 am

Birkenstock Holding has priced its IPO at $46.00 per share, offering 32,258,064 ordinary shares. The shares are expected to start trading on the NYSE under the symbol 'BIRK' on October 11, 2023. The offering is managed by Goldman Sachs, J.P. Morgan, and Morgan Stanley, among others.

Portfolio Pulse from Charles Gross

October 10, 2023 | 10:27 pm

German shoemaker Birkenstock is expected to price its IPO at $46 per share, giving it a tentative valuation of about $8.64 billion. The company initially expected to sell about 10.75 million ordinary shares in the offering and could raise around $495 million when it begins trading on the New York Stock Exchange under the ticker 'BIRK'. The offering could bring in around $1.48 billion. The company's growth and profitability have sparked interest from investors despite an overall slowdown in the footwear sector.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2023 | 9:05 pm

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