Wasatch Advisors LP Increases Holdings in Boot Barn Holdings, Inc. (NYSE:BOOT)

Wasatch Advisors LP increased its position in Boot Barn Holdings, Inc. (NYSE:BOOT) by 43.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,131,689 shares of the company’s stock after buying an additional 649,021 shares during the quarter. Wasatch Advisors LP owned 7.04% of Boot Barn worth $202,830,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP boosted its stake in shares of Boot Barn by 186.6% in the 4th quarter. Wellington Management Group LLP now owns 2,573,306 shares of the company’s stock valued at $197,527,000 after purchasing an additional 1,675,410 shares in the last quarter. Westwood Holdings Group Inc. bought a new position in shares of Boot Barn during the fourth quarter valued at about $32,361,000. American Century Companies Inc. purchased a new position in shares of Boot Barn in the third quarter worth about $23,028,000. Goldman Sachs Group Inc. lifted its stake in shares of Boot Barn by 35.2% in the 4th quarter. Goldman Sachs Group Inc. now owns 700,007 shares of the company’s stock valued at $53,733,000 after acquiring an additional 182,130 shares during the last quarter. Finally, Trexquant Investment LP lifted its stake in shares of Boot Barn by 1,207.6% in the 4th quarter. Trexquant Investment LP now owns 143,893 shares of the company’s stock valued at $11,045,000 after acquiring an additional 132,889 shares during the last quarter.

Boot Barn Stock Performance

Shares of BOOT traded up $1.15 on Tuesday, reaching $131.28. The stock had a trading volume of 469,766 shares, compared to its average volume of 822,986. The firm has a market capitalization of $3.99 billion, a price-to-earnings ratio of 27.35 and a beta of 2.09. The company has a 50-day simple moving average of $117.94 and a 200-day simple moving average of $96.83. Boot Barn Holdings, Inc. has a 12-month low of $66.73 and a 12-month high of $134.61.

Boot Barn (NYSE:BOOT) last announced its earnings results on Tuesday, May 14th. The company reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.12. The firm had revenue of $388.46 million for the quarter, compared to analysts’ expectations of $383.67 million. Boot Barn had a net margin of 8.82% and a return on equity of 16.84%. On average, analysts expect that Boot Barn Holdings, Inc. will post 4.82 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, insider Michael A. Love sold 1,079 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $110.21, for a total transaction of $118,916.59. Following the completion of the transaction, the insider now owns 2,112 shares of the company’s stock, valued at approximately $232,763.52. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, insider Michael A. Love sold 5,653 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $113.61, for a total value of $642,237.33. Following the transaction, the insider now owns 2,327 shares in the company, valued at $264,370.47. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael A. Love sold 1,079 shares of the firm’s stock in a transaction that occurred on Thursday, May 23rd. The shares were sold at an average price of $110.21, for a total transaction of $118,916.59. Following the sale, the insider now directly owns 2,112 shares of the company’s stock, valued at approximately $232,763.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 11,795 shares of company stock worth $1,329,686. 2.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Robert W. Baird lifted their price target on Boot Barn from $100.00 to $132.00 and gave the stock a “neutral” rating in a research note on Friday, June 7th. BTIG Research upped their price target on shares of Boot Barn from $125.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, June 5th. Craig Hallum raised their price target on shares of Boot Barn from $120.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, June 5th. Piper Sandler upped their price objective on shares of Boot Barn from $94.00 to $110.00 and gave the company an “overweight” rating in a research note on Tuesday, April 16th. Finally, TD Cowen raised their target price on Boot Barn from $120.00 to $145.00 and gave the stock a “buy” rating in a research note on Wednesday, June 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $123.36.

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.