Boot Barn Holdings, Inc. (NYSE:BOOT) Shares Purchased by Xponance Inc.

Xponance Inc. lifted its position in Boot Barn Holdings, Inc. (NYSE:BOOT) by 5.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,292 shares of the company’s stock after purchasing an additional 120 shares during the quarter. Xponance Inc.’s holdings in Boot Barn were worth $246,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in BOOT. Oppenheimer Asset Management Inc. lifted its position in Boot Barn by 29.3% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 14,731 shares of the company’s stock worth $1,583,000 after acquiring an additional 3,341 shares during the period. SG Americas Securities LLC acquired a new stake in Boot Barn during the 1st quarter worth approximately $916,000. KBC Group NV lifted its position in Boot Barn by 21.8% during the 1st quarter. KBC Group NV now owns 1,489 shares of the company’s stock worth $160,000 after acquiring an additional 267 shares during the period. Knights of Columbus Asset Advisors LLC raised its stake in shares of Boot Barn by 21.7% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 17,724 shares of the company’s stock worth $2,691,000 after buying an additional 3,162 shares in the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of Boot Barn by 8,368.8% during the 1st quarter. GAMMA Investing LLC now owns 42,005 shares of the company’s stock worth $4,513,000 after buying an additional 41,509 shares in the last quarter.

Boot Barn Stock Performance

NYSE:BOOT opened at $170.80 on Friday. Boot Barn Holdings, Inc. has a one year low of $86.17 and a one year high of $177.10. The business’s 50-day simple moving average is $160.21 and its 200 day simple moving average is $136.45. The stock has a market cap of $5.22 billion, a price-to-earnings ratio of 29.15, a price-to-earnings-growth ratio of 2.00 and a beta of 1.69.

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

Boot Barn declared that its Board of Directors has initiated a share repurchase plan on Wednesday, May 14th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to purchase up to 4.8% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s board believes its stock is undervalued.

Analyst Ratings Changes

A number of brokerages have recently issued reports on BOOT. Piper Sandler increased their target price on Boot Barn from $162.00 to $184.00 and gave the stock an “overweight” rating in a research note on Thursday, May 15th. JPMorgan Chase & Co. raised their price objective on Boot Barn from $196.00 to $207.00 and gave the company an “overweight” rating in a research note on Tuesday, May 27th. KeyCorp dropped their price objective on Boot Barn from $190.00 to $165.00 and set an “overweight” rating for the company in a research note on Tuesday, April 29th. Robert W. Baird raised their price objective on Boot Barn from $140.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, May 15th. Finally, UBS Group raised their price objective on Boot Barn from $156.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. One analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $173.67.

Insider Activity at Boot Barn

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

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.