SG Americas Securities LLC Takes $916,000 Position in Boot Barn Holdings, Inc. (NYSE:BOOT)

SG Americas Securities LLC bought a new position in shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 8,530 shares of the company's stock, valued at approximately $916,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. FMR LLC increased its holdings in shares of Boot Barn by 47.3% during the fourth 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 position in Boot Barn by 48.6% during the 4th quarter. Wellington Management Group LLP now owns 2,161,052 shares of the company's stock worth $328,091,000 after purchasing an additional 706,518 shares during the last quarter. Proficio Capital Partners LLC acquired a new position in Boot Barn during the 4th quarter valued at approximately $45,177,000. Capital Research Global Investors raised its holdings 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 during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Boot Barn during the fourth quarter worth $42,440,000.

Insider Buying and Selling

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 value of $645,282.36. Following the completion of the sale, the insider now directly owns 2,112 shares in the company, valued at $328,078.08. This represents a 66.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Laurie Marie Grijalva sold 2,438 shares of the business's 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 now owns 14,593 shares in the company, valued at $2,344,657.31. The trade was 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 currently owned by insiders.

Wall Street Analysts Forecast Growth

BOOT has been the subject of a number of research analyst reports. Robert W. Baird raised their target price on Boot Barn from $140.00 to $180.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. Craig Hallum upgraded shares of Boot Barn from a "hold" rating to a "buy" rating and set a $130.00 price target on the stock in a report on Wednesday, April 23rd. JPMorgan Chase & Co. lifted their price objective on shares of Boot Barn from $196.00 to $207.00 and gave the company an "overweight" rating in a research note on Tuesday, May 27th. Bank of America increased their price objective on shares of Boot Barn from $160.00 to $173.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Finally, KeyCorp decreased their target price on shares of Boot Barn from $190.00 to $165.00 and set an "overweight" rating for the company in a research report on Tuesday, April 29th. One equities 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 given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $173.67.

Boot Barn Stock Up 1.9%

Shares of Boot Barn stock traded up $3.06 on Friday, reaching $166.35. The company's stock had a trading volume of 102,642 shares, compared to its average volume of 817,135. Boot Barn Holdings, Inc. has a 52-week low of $86.17 and a 52-week high of $176.64. The company has a market capitalization of $5.09 billion, a P/E ratio of 28.38, a PEG ratio of 1.92 and a beta of 1.73. The stock has a 50-day moving average price of $134.88 and a 200-day moving average price of $134.57.

Boot Barn (NYSE:BOOT - Get Free Report) last issued its quarterly earnings results 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 16.98% and a net margin of 9.47%. The company had revenue of $453.75 million during the quarter, compared to analysts' expectations of $458.56 million. During the same period in the previous year, the firm posted $0.96 EPS. Boot Barn's revenue was up 16.8% compared to the same quarter last year. Sell-side analysts forecast that Boot Barn Holdings, Inc. will post 5.82 earnings per share for the current fiscal year.

Boot Barn announced that its Board of Directors has initiated a stock buyback plan on Wednesday, May 14th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 4.8% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's leadership believes its shares are undervalued.

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.