Boot Barn Holdings, Inc. $BOOT Shares Sold by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. has reduced its stake in Boot Barn Holdings, Inc. by 8.2%, holding approximately $83.49 million worth of shares after selling 69,791 shares in the first quarter.
• Boot Barn reported earnings of $1.74 per share for the last quarter, exceeding expectations and demonstrating a 19.1% increase in revenue year-over-year, totaling $504.07 million.
• Recent analyst upgrades have raised Boot Barn's price targets, with consensus recommending a "Moderate Buy" and a target price of approximately $182.54.

Alliancebernstein L.P. reduced its stake in Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 8.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 777,192 shares of the company's stock after selling 69,791 shares during the quarter. Alliancebernstein L.P. owned approximately 2.54% of Boot Barn worth $83,494,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Artemis Investment Management LLP boosted its position in shares of Boot Barn by 206.5% during the 1st quarter. Artemis Investment Management LLP now owns 734,023 shares of the company's stock valued at $78,856,000 after acquiring an additional 494,523 shares during the last quarter. Nuveen LLC purchased a new position in Boot Barn during the first quarter worth about $38,387,000. Invesco Ltd. boosted its holdings in Boot Barn by 24.8% in the 1st quarter. Invesco Ltd. now owns 903,453 shares of the company's stock valued at $97,058,000 after purchasing an additional 179,710 shares during the last quarter. Nuveen Asset Management LLC grew its stake in shares of Boot Barn by 218.0% in the 4th quarter. Nuveen Asset Management LLC now owns 254,080 shares of the company's stock valued at $38,574,000 after buying an additional 174,188 shares during the period. Finally, Stephens Investment Management Group LLC grew its stake in shares of Boot Barn by 51.4% in the 1st quarter. Stephens Investment Management Group LLC now owns 465,787 shares of the company's stock valued at $50,039,000 after buying an additional 158,195 shares during the period.

Boot Barn Stock Performance

Shares of BOOT traded down $12.10 during midday trading on Friday, hitting $176.32. 769,750 shares of the stock were exchanged, compared to its average volume of 452,078. Boot Barn Holdings, Inc. has a 52-week low of $86.17 and a 52-week high of $191.31. The stock has a fifty day simple moving average of $172.98 and a 200 day simple moving average of $143.14. The firm has a market cap of $5.39 billion, a P/E ratio of 27.81, a P/E/G ratio of 1.91 and a beta of 1.62.

Boot Barn (NYSE:BOOT - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $1.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.55 by $0.19. Boot Barn had a return on equity of 17.73% and a net margin of 9.81%.The firm had revenue of $504.07 million for the quarter, compared to the consensus estimate of $489.49 million. During the same quarter in the previous year, the business earned $1.26 EPS. The company's quarterly revenue was up 19.1% compared to the same quarter last year. Boot Barn has set its Q2 2026 guidance at 1.190-1.270 EPS. FY 2026 guidance at 5.800-6.700 EPS. As a group, equities research analysts forecast that Boot Barn Holdings, Inc. will post 5.82 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. BTIG Research upped their price objective on Boot Barn from $200.00 to $218.00 and gave the company a "buy" rating in a report on Friday, August 1st. JPMorgan Chase & Co. lifted their target price on Boot Barn from $207.00 to $247.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. Robert W. Baird upped their price target on Boot Barn from $140.00 to $180.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. Jefferies Financial Group downgraded Boot Barn from a "buy" rating to a "hold" rating and cut their price objective for the stock from $187.00 to $175.00 in a research report on Wednesday, July 23rd. Finally, Citigroup boosted their price objective on shares of Boot Barn from $137.00 to $180.00 and gave the company a "buy" rating in a report on Friday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $182.54.

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.