Ameriprise Financial Inc. Grows Position in Boot Barn Holdings, Inc. $BOOT

Key Points

• Ameriprise Financial Inc. has increased its stake in Boot Barn Holdings, Inc. by 42.1%, acquiring 149,115 shares and holding approximately 1.65% of the company, valued at around $54 million.
• Boot Barn recently reported a quarterly earnings per share (EPS) of $1.74, exceeding analyst estimates of $1.55, and generated $504.07 million in revenue, up 19.1% year over year.
• The company has initiated a $200 million stock repurchase plan, indicating that leadership believes the stock may be undervalued.

Ameriprise Financial Inc. increased its position in shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 42.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 503,619 shares of the company's stock after purchasing an additional 149,115 shares during the period. Ameriprise Financial Inc. owned 1.65% of Boot Barn worth $54,110,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Cetera Investment Advisers raised its position in shares of Boot Barn by 1.0% during the 4th quarter. Cetera Investment Advisers now owns 8,179 shares of the company's stock valued at $1,242,000 after purchasing an additional 83 shares during the period. Coldstream Capital Management Inc. raised its position in shares of Boot Barn by 7.6% during the 4th quarter. Coldstream Capital Management Inc. now owns 1,367 shares of the company's stock valued at $208,000 after purchasing an additional 97 shares during the period. Park Avenue Securities LLC raised its position in shares of Boot Barn by 5.7% during the 1st quarter. Park Avenue Securities LLC now owns 1,963 shares of the company's stock valued at $211,000 after purchasing an additional 105 shares during the period. Xponance Inc. raised its position in shares of Boot Barn by 5.5% during the 1st quarter. Xponance Inc. now owns 2,292 shares of the company's stock valued at $246,000 after purchasing an additional 120 shares during the period. Finally, Intrust Bank NA increased its holdings in Boot Barn by 3.4% in the 1st quarter. Intrust Bank NA now owns 4,702 shares of the company's stock valued at $505,000 after acquiring an additional 153 shares during the last quarter.

Boot Barn Stock Performance

Shares of NYSE:BOOT traded up $1.56 on Monday, reaching $178.03. The company's stock had a trading volume of 478,531 shares, compared to its average volume of 532,776. Boot Barn Holdings, Inc. has a 52-week low of $86.17 and a 52-week high of $183.60. The company has a market cap of $5.44 billion, a P/E ratio of 28.08, a PEG ratio of 1.81 and a beta of 1.62. The company has a 50-day simple moving average of $167.70 and a 200 day simple moving average of $139.74.

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

Boot Barn declared that its board has approved a share repurchase program 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 programs are often an indication that the company's management believes its shares are undervalued.

Analyst Ratings Changes

A number of brokerages have issued reports on BOOT. KeyCorp lifted their price target on shares of Boot Barn from $195.00 to $210.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Bank of America lifted their price target on shares of Boot Barn from $160.00 to $173.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Robert W. Baird lifted their price target on shares of Boot Barn from $140.00 to $180.00 and gave the company an "outperform" rating in a report on Thursday, May 15th. BTIG Research lifted their price target on shares of Boot Barn from $200.00 to $218.00 and gave the company a "buy" rating in a report on Friday, August 1st. Finally, Piper Sandler lifted their price target on shares of Boot Barn from $184.00 to $185.00 and gave the company an "overweight" rating in a report on Monday, July 28th. One analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Boot Barn currently has an average rating of "Moderate Buy" and an average target price of $182.54.

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.