Putnam Investments LLC Trims Position in Boot Barn Holdings, Inc. (NYSE:BOOT)

Putnam Investments LLC cut its holdings in shares of Boot Barn Holdings, Inc. (NYSE:BOOT) by 1.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 230,611 shares of the company’s stock after selling 3,623 shares during the period. Putnam Investments LLC owned 0.77% of Boot Barn worth $17,674,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in BOOT. Dimensional Fund Advisors LP boosted its position in shares of Boot Barn by 6.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,055,012 shares of the company’s stock valued at $65,957,000 after purchasing an additional 63,802 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Boot Barn during the first quarter valued at approximately $426,000. Seven Eight Capital LP bought a new stake in shares of Boot Barn during the fourth quarter valued at approximately $238,000. GSA Capital Partners LLP boosted its position in shares of Boot Barn by 53.8% during the fourth quarter. GSA Capital Partners LLP now owns 5,619 shares of the company’s stock valued at $351,000 after purchasing an additional 1,966 shares in the last quarter. Finally, Ranger Investment Management L.P. boosted its holdings in Boot Barn by 55.5% in the first quarter. Ranger Investment Management L.P. now owns 603,800 shares of the company’s stock worth $46,275,000 after acquiring an additional 215,495 shares in the last quarter.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Robert W. Baird dropped their target price on Boot Barn from $86.00 to $70.00 in a report on Thursday, May 18th. BTIG Research boosted their target price on Boot Barn from $98.00 to $115.00 in a report on Thursday, August 3rd. TD Cowen boosted their target price on Boot Barn from $105.00 to $115.00 and gave the stock an “outperform” rating in a report on Tuesday, August 8th. Bank of America boosted their target price on Boot Barn from $113.00 to $118.00 in a report on Thursday, August 10th. Finally, Citigroup upped their price target on Boot Barn from $106.00 to $116.00 and gave the company a “buy” rating in a report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $108.00.

Boot Barn Stock Performance

Boot Barn stock opened at $88.73 on Friday. The stock has a market cap of $2.66 billion, a PE ratio of 16.25, a price-to-earnings-growth ratio of 2.62 and a beta of 2.34. Boot Barn Holdings, Inc. has a one year low of $50.20 and a one year high of $104.91. The stock has a fifty day moving average of $91.93 and a 200 day moving average of $80.49.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported $1.11 EPS for the quarter, beating analysts’ consensus estimates of $0.84 by $0.27. The company had revenue of $383.70 million during the quarter, compared to analysts’ expectations of $362.49 million. Boot Barn had a return on equity of 22.03% and a net margin of 9.88%. As a group, sell-side analysts predict that Boot Barn Holdings, Inc. will post 5.27 EPS for the current fiscal year.

Insiders Place Their Bets

In other Boot Barn news, CEO James Grant Conroy sold 113,636 shares of the company’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $93.09, for a total value of $10,578,375.24. Following the completion of the sale, the chief executive officer now owns 46,273 shares in the company, valued at $4,307,553.57. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Boot Barn news, CEO James Grant Conroy sold 113,636 shares of the company’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $93.09, for a total value of $10,578,375.24. Following the completion of the sale, the chief executive officer now owns 46,273 shares in the company, valued at $4,307,553.57. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Laurie Marie Grijalva sold 5,993 shares of the company’s stock in a transaction dated Wednesday, August 9th. The stock was sold at an average price of $97.22, for a total value of $582,639.46. Following the completion of the sale, the insider now owns 17,739 shares of the company’s stock, valued at approximately $1,724,585.58. The disclosure for this sale can be found here. Insiders sold a total of 129,879 shares of company stock worth $12,134,150 over the last quarter. 2.20% of the stock is currently owned by corporate insiders.

Boot Barn Company 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.