Rhumbline Advisers Has $8.72 Million Position in Boot Barn Holdings, Inc. (NYSE:BOOT)

Rhumbline Advisers raised its position in shares of Boot Barn Holdings, Inc. (NYSE:BOOT) by 1.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 81,154 shares of the company’s stock after purchasing an additional 1,124 shares during the quarter. Rhumbline Advisers owned 0.27% of Boot Barn worth $8,718,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. FMR LLC grew its holdings in shares of Boot Barn by 47.3% during the 4th quarter. FMR LLC now owns 2,211,300 shares of the company’s stock valued at $335,720,000 after acquiring an additional 709,903 shares in the last quarter. Wellington Management Group LLP grew its holdings 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 acquiring an additional 706,518 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in Boot Barn in the fourth quarter worth $45,177,000. Capital Research Global Investors boosted its holdings in Boot Barn by 32.6% in the fourth quarter. Capital Research Global Investors now owns 1,141,821 shares of the company’s stock worth $173,351,000 after purchasing an additional 280,892 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in Boot Barn in the fourth quarter worth $42,440,000.

Boot Barn Stock Performance

Boot Barn stock opened at $162.18 on Wednesday. The business’s 50-day simple moving average is $125.85 and its 200-day simple moving average is $133.45. The firm has a market capitalization of $4.96 billion, a PE ratio of 28.96, a PEG ratio of 1.17 and a beta of 1.73. Boot Barn Holdings, Inc. has a 52 week low of $86.17 and a 52 week high of $176.64.

Boot Barn (NYSE:BOOT) last posted 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). Boot Barn had a return on equity of 17.11% and a net margin of 9.36%. The business had revenue of $453.75 million during the quarter, compared to the consensus estimate of $458.56 million. During the same quarter in the previous year, the firm posted $0.96 earnings per share. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. Research analysts forecast that Boot Barn Holdings, Inc. will post 5.82 earnings per share for the current year.

Boot Barn announced that its board has authorized a share repurchase plan on Wednesday, May 14th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to purchase up to 4.8% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

BOOT has been the subject of a number of recent research reports. Craig Hallum upgraded shares of Boot Barn from a “hold” rating to a “buy” rating and set a $130.00 price objective for the company in a report on Wednesday, April 23rd. Stephens initiated coverage on shares of Boot Barn in a report on Wednesday, April 9th. They issued an “overweight” rating and a $100.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on shares of Boot Barn from $196.00 to $207.00 and gave the stock an “overweight” rating in a report on Tuesday, May 27th. UBS Group upped their price objective on shares of Boot Barn from $156.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. Finally, Wall Street Zen cut shares of Boot Barn from a “hold” rating to a “sell” rating in a report on Monday, February 17th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Boot Barn currently has an average rating of “Moderate Buy” and an average target price of $173.67.

Insider Buying and Selling

In related news, insider Michael A. Love sold 4,154 shares of Boot Barn stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $155.34, for a total transaction of $645,282.36. Following the sale, the insider now directly owns 2,112 shares of the company’s stock, valued at $328,078.08. This trade represents a 66.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Laurie Marie Grijalva sold 2,438 shares of Boot Barn stock in a transaction dated 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 now directly owns 14,593 shares in the company, valued at approximately $2,344,657.31. This trade represents a 14.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by company 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.