KBC Group NV Acquires 267 Shares of Boot Barn Holdings, Inc. (NYSE:BOOT)

KBC Group NV raised its holdings in Boot Barn Holdings, Inc. (NYSE:BOOT) by 21.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,489 shares of the company’s stock after acquiring an additional 267 shares during the quarter. KBC Group NV’s holdings in Boot Barn were worth $160,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Bank of Montreal Can boosted its stake in Boot Barn by 1.4% in the fourth quarter. Bank of Montreal Can now owns 5,936 shares of the company’s stock valued at $901,000 after acquiring an additional 82 shares during the last quarter. Cetera Investment Advisers boosted its stake in Boot Barn by 1.0% in the fourth quarter. Cetera Investment Advisers now owns 8,179 shares of the company’s stock valued at $1,242,000 after acquiring an additional 83 shares during the last quarter. Coldstream Capital Management Inc. boosted its stake in Boot Barn by 7.6% in the fourth quarter. Coldstream Capital Management Inc. now owns 1,367 shares of the company’s stock valued at $208,000 after acquiring an additional 97 shares during the last quarter. Summit Investment Advisors Inc. boosted its stake in Boot Barn by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,096 shares of the company’s stock valued at $470,000 after acquiring an additional 98 shares during the last quarter. Finally, Arizona State Retirement System boosted its stake in Boot Barn by 1.1% in the fourth quarter. Arizona State Retirement System now owns 8,853 shares of the company’s stock valued at $1,344,000 after acquiring an additional 100 shares during the last quarter.

Insider Transactions at Boot Barn

In other news, insider Michael A. Love sold 4,154 shares of the stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $155.34, for a total transaction of $645,282.36. Following the completion of the transaction, the insider directly owned 2,112 shares in the company, valued at $328,078.08. This represents a 66.29% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Laurie Marie Grijalva sold 2,438 shares of the stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $160.67, for a total transaction of $391,713.46. Following the transaction, the insider owned 14,593 shares of the company’s stock, valued at approximately $2,344,657.31. This represents a 14.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company’s stock.

Boot Barn Trading Up 3.0%

Shares of NYSE BOOT opened at $164.93 on Monday. The firm has a market cap of $5.05 billion, a PE ratio of 28.15, a PEG ratio of 1.94 and a beta of 1.69. Boot Barn Holdings, Inc. has a 1-year low of $86.17 and a 1-year high of $176.64. The company has a fifty day moving average price of $148.67 and a 200 day moving average price of $135.16.

Boot Barn (NYSE:BOOT) last announced its earnings results on Wednesday, May 14th. The company reported $1.22 earnings per share for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.02). Boot Barn had a return on equity of 16.98% and a net margin of 9.47%. The company had revenue of $453.75 million during the quarter, compared to analyst estimates of $458.56 million. During the same period in the previous year, the company posted $0.96 earnings per share. Boot Barn’s revenue for the quarter was up 16.8% on a year-over-year basis. Equities research analysts forecast that Boot Barn Holdings, Inc. will post 5.82 EPS for the current year.

Boot Barn declared that its board has approved a share buyback program on Wednesday, May 14th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to repurchase up to 4.8% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Analyst Ratings Changes

BOOT has been the topic of a number of recent analyst reports. Bank of America lifted their price target on shares of Boot Barn from $160.00 to $173.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Stephens initiated coverage on shares of Boot Barn in a research report on Wednesday, April 9th. They set an “overweight” rating and a $100.00 price target on the stock. Citigroup lifted their price target on shares of Boot Barn from $137.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, May 16th. Craig Hallum raised shares of Boot Barn from a “hold” rating to a “buy” rating and set a $130.00 price target on the stock in a research report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. lifted their price target on shares of Boot Barn from $196.00 to $207.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 27th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Boot Barn has a consensus rating of “Moderate Buy” and a consensus target price of $173.67.

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.