MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Raises Holdings in Boot Barn Holdings, Inc. (NYSE:BOOT)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Boot Barn Holdings, Inc. (NYSE:BOOT) by 4.2% in the fourth quarter, Holdings Channel reports. The firm owned 16,849 shares of the company’s stock after buying an additional 677 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Boot Barn were worth $2,558,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of BOOT. FMR LLC increased its holdings in Boot Barn by 47.3% in the 4th quarter. FMR LLC now owns 2,211,300 shares of the company’s stock worth $335,720,000 after buying an additional 709,903 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Boot Barn by 48.6% during the 4th quarter. Wellington Management Group LLP now owns 2,161,052 shares of the company’s stock valued at $328,091,000 after purchasing an additional 706,518 shares during the last quarter. Stephens Investment Management Group LLC bought a new position in shares of Boot Barn in the 4th quarter worth approximately $46,699,000. Proficio Capital Partners LLC purchased a new position in shares of Boot Barn in the fourth quarter worth approximately $45,177,000. Finally, Capital Research Global Investors grew its position in Boot Barn by 32.6% during the fourth quarter. Capital Research Global Investors now owns 1,141,821 shares of the company’s stock valued at $173,351,000 after buying an additional 280,892 shares during the period.

Boot Barn Trading Up 1.1%

Shares of BOOT stock opened at $162.76 on Wednesday. The stock has a market capitalization of $4.98 billion, a price-to-earnings ratio of 29.06, a price-to-earnings-growth ratio of 1.17 and a beta of 1.59. Boot Barn Holdings, Inc. has a 12-month low of $86.17 and a 12-month high of $176.64. The stock’s 50-day moving average price is $109.45 and its 200-day moving average price is $130.55.

Boot Barn (NYSE:BOOT) last issued its quarterly earnings data on Wednesday, May 14th. The company reported $1.22 EPS for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.02). The business had revenue of $453.75 million during the quarter, compared to analysts’ expectations of $458.56 million. Boot Barn had a return on equity of 17.11% and a net margin of 9.36%. The business’s quarterly revenue was up 16.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.96 earnings per share. As a group, research analysts predict that Boot Barn Holdings, Inc. will post 5.82 EPS for the current fiscal year.

Boot Barn announced that its board has initiated a stock buyback program on Wednesday, May 14th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to buy up to 4.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Stephens started coverage on shares of Boot Barn in a research report on Wednesday, April 9th. They issued an “overweight” rating and a $100.00 price target on the stock. StockNews.com cut shares of Boot Barn from a “hold” rating to a “sell” rating in a research note on Monday, February 17th. Piper Sandler raised their price objective on shares of Boot Barn from $162.00 to $184.00 and gave the company an “overweight” rating in a research report on Thursday, May 15th. JPMorgan Chase & Co. lowered their target price on shares of Boot Barn from $209.00 to $196.00 and set an “overweight” rating on the stock in a research note on Thursday, May 15th. Finally, Craig Hallum upgraded Boot Barn from a “hold” rating to a “buy” rating and set a $130.00 price target for the company in a research note on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, one has given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $170.62.

About Boot Barn

Boot Barn Holdings, Inc, a lifestyle retail chain, operates specialty retail stores in the United States. The company's specialty retail stores offer western and work-related footwear, apparel, and accessories for men, women, and kids. It offers boots, shirts, jackets, hats, belts and belt buckles, handbags, western-style jewelry, rugged footwear, outerwear, overalls, denim, and flame-resistant and high-visibility clothing.