Michael A. Love Sells 4,154 Shares of Boot Barn Holdings, Inc. (NYSE:BOOT) Stock

Boot Barn Holdings, Inc. (NYSE:BOOT - Get Free Report) insider Michael A. Love sold 4,154 shares of Boot Barn 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 sale, the insider now owns 2,112 shares in the company, valued at approximately $328,078.08. This represents a 66.29% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Boot Barn Stock Down 1.5%

Shares of Boot Barn stock traded down $2.42 on Thursday, reaching $159.50. The company's stock had a trading volume of 791,421 shares, compared to its average volume of 831,339. The company has a market capitalization of $4.88 billion, a price-to-earnings ratio of 28.48, a P/E/G ratio of 1.17 and a beta of 1.59. The firm's fifty day simple moving average is $116.07 and its two-hundred day simple moving average is $131.73. Boot Barn Holdings, Inc. has a 52 week low of $86.17 and a 52 week high of $176.64.

Boot Barn (NYSE:BOOT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The company reported $1.22 EPS for the quarter, missing the consensus estimate of $1.24 by ($0.02). Boot Barn had a return on equity of 17.11% and a net margin of 9.36%. The firm had revenue of $453.75 million during the quarter, compared to the consensus estimate of $458.56 million. During the same period in the previous year, the firm earned $0.96 EPS. The business's revenue was up 16.8% on a year-over-year basis. As a group, research analysts predict that Boot Barn Holdings, Inc. will post 5.82 EPS for the current year.

Boot Barn declared that its board has authorized a stock buyback plan on Wednesday, May 14th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 4.8% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's board believes its shares are undervalued.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BOOT. Robert W. Baird lifted their price objective on Boot Barn from $140.00 to $180.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. Piper Sandler raised their target price on Boot Barn from $162.00 to $184.00 and gave the company an "overweight" rating in a research note on Thursday, May 15th. Wall Street Zen cut Boot Barn from a "hold" rating to a "sell" rating in a research note on Monday, February 17th. Stephens assumed coverage on Boot Barn in a research note on Wednesday, April 9th. They issued an "overweight" rating and a $100.00 target price for the company. Finally, JPMorgan Chase & Co. raised their target price on Boot Barn from $196.00 to $207.00 and gave the company an "overweight" rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Boot Barn has a consensus rating of "Moderate Buy" and a consensus price target of $171.46.

Hedge Funds Weigh In On Boot Barn

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Boot Barn by 2.2% in the fourth quarter. Vanguard Group Inc. now owns 3,409,865 shares of the company's stock worth $517,686,000 after buying an additional 73,089 shares in the last quarter. FMR LLC lifted its position in shares of Boot Barn by 47.3% in the fourth quarter. FMR LLC now owns 2,211,300 shares of the company's stock worth $335,720,000 after buying an additional 709,903 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Boot Barn by 48.6% in the fourth quarter. Wellington Management Group LLP now owns 2,161,052 shares of the company's stock worth $328,091,000 after buying an additional 706,518 shares in the last quarter. Capital Research Global Investors lifted its position in shares of 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 buying an additional 280,892 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Boot Barn by 24.8% in the first quarter. Invesco Ltd. now owns 903,453 shares of the company's stock worth $97,058,000 after buying an additional 179,710 shares in the last quarter.

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.