Pitcairn Co. Sells 3,688 Shares of Boot Barn Holdings, Inc. (NYSE:BOOT)

Pitcairn Co. trimmed its stake in Boot Barn Holdings, Inc. (NYSE:BOOT) by 22.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 12,953 shares of the company’s stock after selling 3,688 shares during the quarter. Pitcairn Co.’s holdings in Boot Barn were worth $2,167,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the stock. Westwood Holdings Group Inc. raised its holdings in Boot Barn by 29.4% in the 1st quarter. Westwood Holdings Group Inc. now owns 545,644 shares of the company’s stock worth $51,918,000 after acquiring an additional 124,060 shares during the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Boot Barn by 0.4% during the third quarter. Thrivent Financial for Lutherans now owns 495,546 shares of the company’s stock valued at $82,895,000 after purchasing an additional 1,834 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Boot Barn by 1.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 352,698 shares of the company’s stock valued at $58,999,000 after buying an additional 6,335 shares during the last quarter. Janus Henderson Group PLC boosted its position in shares of Boot Barn by 1,212.4% during the first quarter. Janus Henderson Group PLC now owns 285,174 shares of the company’s stock valued at $27,134,000 after buying an additional 263,444 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Boot Barn by 3.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 259,885 shares of the company’s stock worth $33,507,000 after buying an additional 9,126 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BOOT. Baird R W raised shares of Boot Barn from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Robert W. Baird upgraded shares of Boot Barn from a “neutral” rating to an “outperform” rating and set a $167.00 target price for the company in a research note on Wednesday, October 30th. Piper Sandler restated an “overweight” rating and issued a $179.00 price target on shares of Boot Barn in a research note on Tuesday, October 29th. BTIG Research upped their price objective on Boot Barn from $165.00 to $185.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. Finally, Benchmark reissued a “buy” rating and issued a $192.00 target price on shares of Boot Barn in a report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, three have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $164.55.

Boot Barn Stock Up 0.6 %

BOOT stock opened at $137.05 on Friday. The business’s 50-day moving average price is $151.42 and its 200-day moving average price is $135.73. The stock has a market cap of $4.18 billion, a P/E ratio of 27.52 and a beta of 2.16. Boot Barn Holdings, Inc. has a twelve month low of $68.37 and a twelve month high of $169.83.

Boot Barn (NYSE:BOOT) last issued its quarterly earnings results on Monday, October 28th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.02. The business had revenue of $425.80 million for the quarter, compared to the consensus estimate of $424.42 million. Boot Barn had a net margin of 8.73% and a return on equity of 15.89%. The company’s revenue for the quarter was up 13.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.91 earnings per share. On average, equities research analysts expect that Boot Barn Holdings, Inc. will post 5.48 earnings per share for the current fiscal year.

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.