Public Employees Retirement System of Ohio Acquires New Holdings in Boot Barn Holdings, Inc. (NYSE:BOOT)

Public Employees Retirement System of Ohio bought a new stake in Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 11,973 shares of the company's stock, valued at approximately $1,818,000.

Several other institutional investors have also recently added to or reduced their stakes in BOOT. Blue Trust Inc. increased its stake in Boot Barn by 1,430.0% during the fourth quarter. Blue Trust Inc. now owns 153 shares of the company's stock worth $26,000 after acquiring an additional 143 shares during the last quarter. KBC Group NV increased its stake in Boot Barn by 28.5% during the fourth quarter. KBC Group NV now owns 1,222 shares of the company's stock worth $186,000 after acquiring an additional 271 shares during the last quarter. OLD National Bancorp IN increased its stake in Boot Barn by 6.2% during the fourth quarter. OLD National Bancorp IN now owns 2,230 shares of the company's stock worth $339,000 after acquiring an additional 130 shares during the last quarter. Jennison Associates LLC increased its stake in Boot Barn by 92.3% during the fourth quarter. Jennison Associates LLC now owns 340,550 shares of the company's stock worth $51,702,000 after acquiring an additional 163,451 shares during the last quarter. Finally, Stephens Investment Management Group LLC acquired a new stake in Boot Barn during the fourth quarter worth about $46,699,000.

Analysts Set New Price Targets

Several equities research analysts have commented on BOOT shares. KeyCorp dropped their price target 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. Piper Sandler upped their target price on Boot Barn from $162.00 to $184.00 and gave the stock an "overweight" rating in a research report on Thursday, May 15th. JPMorgan Chase & Co. upped their target price on Boot Barn from $196.00 to $207.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 27th. UBS Group upped their target price on Boot Barn from $156.00 to $210.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Finally, Wall Street Zen downgraded Boot Barn from a "hold" rating to a "sell" rating in a research report on Monday, February 17th. One investment analyst has rated the stock with a sell rating, one has assigned 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, the company has an average rating of "Moderate Buy" and an average target price of $171.46.

Boot Barn Price Performance

Shares of BOOT stock traded up $5.32 on Thursday, hitting $166.27. 694,168 shares of the stock traded hands, compared to its average volume of 823,599. The company has a market capitalization of $5.09 billion, a PE ratio of 29.69, a PEG ratio of 1.17 and a beta of 1.59. Boot Barn Holdings, Inc. has a 1-year low of $86.17 and a 1-year high of $176.64. The company's fifty day moving average is $122.43 and its 200 day moving average is $132.83.

Boot Barn (NYSE:BOOT - Get Free Report) last posted its quarterly earnings results 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 9.36% and a return on equity of 17.11%. The firm had revenue of $453.75 million for the quarter, compared to analyst estimates of $458.56 million. During the same period in the prior year, the company posted $0.96 earnings per share. The business's revenue was up 16.8% on a year-over-year basis. As a group, equities research analysts expect that Boot Barn Holdings, Inc. will post 5.82 EPS for the current year.

Boot Barn announced that its Board of Directors has initiated a stock repurchase program on Wednesday, May 14th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to purchase up to 4.8% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company's management believes its shares are undervalued.

Insiders Place Their Bets

In other news, insider Laurie Marie Grijalva sold 2,438 shares of the stock in a transaction 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 now owns 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Michael A. Love sold 4,154 shares of the firm's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $155.34, for a total value of $645,282.36. Following the transaction, the insider now directly owns 2,112 shares of the company's stock, valued at $328,078.08. This represents a 66.29% decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is 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.