Blair William & Co. IL Buys 2,090 Shares of Boot Barn Holdings, Inc. (NYSE:BOOT)

Blair William & Co. IL boosted its stake in Boot Barn Holdings, Inc. (NYSE:BOOT) by 52.4% in the first quarter, HoldingsChannel reports. The firm owned 6,079 shares of the company’s stock after acquiring an additional 2,090 shares during the period. Blair William & Co. IL’s holdings in Boot Barn were worth $653,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Argent Trust Co increased its holdings in Boot Barn by 12.7% in the first quarter. Argent Trust Co now owns 2,355 shares of the company’s stock valued at $253,000 after purchasing an additional 266 shares during the last quarter. Blueshift Asset Management LLC increased its holdings in Boot Barn by 3.9% in the first quarter. Blueshift Asset Management LLC now owns 16,039 shares of the company’s stock valued at $1,723,000 after purchasing an additional 606 shares during the last quarter. Jefferies Financial Group Inc. bought a new stake in Boot Barn in the first quarter valued at about $1,271,000. Alberta Investment Management Corp increased its holdings in Boot Barn by 65.2% in the first quarter. Alberta Investment Management Corp now owns 30,927 shares of the company’s stock valued at $3,322,000 after purchasing an additional 12,205 shares during the last quarter. Finally, US Bancorp DE increased its holdings in Boot Barn by 6.3% in the first quarter. US Bancorp DE now owns 7,252 shares of the company’s stock valued at $779,000 after purchasing an additional 431 shares during the last quarter.

Boot Barn Stock Performance

Shares of NYSE BOOT opened at $165.84 on Monday. The stock has a 50 day moving average price of $165.47 and a 200 day moving average price of $137.75. The stock has a market capitalization of $5.07 billion, a PE ratio of 26.16, a price-to-earnings-growth ratio of 1.69 and a beta of 1.76. Boot Barn Holdings, Inc. has a 52 week low of $86.17 and a 52 week high of $183.60.

Boot Barn (NYSE:BOOT) last released its quarterly earnings data on Thursday, July 31st. The company reported $1.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.19. The firm had revenue of $504.07 million for the quarter, compared to analyst estimates of $489.49 million. Boot Barn had a return on equity of 17.73% and a net margin of 9.81%. The business’s revenue for the quarter was up 19.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.26 earnings per share. As a group, research analysts forecast that Boot Barn Holdings, Inc. will post 5.82 EPS for the current year.

Boot Barn announced that its board has initiated a stock repurchase plan on Wednesday, May 14th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 4.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

BOOT has been the subject of a number of recent analyst reports. KeyCorp upped their price objective on Boot Barn from $195.00 to $210.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Robert W. Baird increased their price target on Boot Barn from $140.00 to $180.00 and gave the stock an “outperform” rating in a report on Thursday, May 15th. Piper Sandler increased their price target on Boot Barn from $184.00 to $185.00 and gave the stock an “overweight” rating in a report on Monday, July 28th. Jefferies Financial Group downgraded Boot Barn from a “buy” rating to a “hold” rating and lowered their price target for the stock from $187.00 to $175.00 in a report on Wednesday, July 23rd. Finally, BTIG Research increased their price target on Boot Barn from $200.00 to $218.00 and gave the stock a “buy” rating in a report on Friday, August 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Boot Barn currently has a consensus rating of “Moderate Buy” and an average price target of $182.54.

Insider Activity at Boot Barn

In other Boot Barn news, insider Laurie Marie Grijalva sold 2,438 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $160.67, for a total value of $391,713.46. Following the sale, the insider owned 14,593 shares in the company, valued at $2,344,657.31. This represents a 14.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Michael A. Love sold 4,154 shares of the company’s stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $155.34, for a total value of $645,282.36. Following the completion of the sale, the insider owned 2,112 shares in the company, valued at $328,078.08. This represents a 66.29% decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

Boot Barn Profile

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.