Artemis Investment Management LLP Acquires 494,523 Shares of Boot Barn Holdings, Inc. (NYSE:BOOT)

Artemis Investment Management LLP lifted its position in shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 206.5% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 734,023 shares of the company's stock after buying an additional 494,523 shares during the quarter. Boot Barn makes up 1.2% of Artemis Investment Management LLP's holdings, making the stock its 20th largest holding. Artemis Investment Management LLP owned 2.40% of Boot Barn worth $78,856,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the business. Signaturefd LLC grew its position in shares of Boot Barn by 201.8% during the 4th quarter. Signaturefd LLC now owns 166 shares of the company's stock worth $25,000 after buying an additional 111 shares in the last quarter. Blue Trust Inc. boosted its holdings in Boot Barn by 1,430.0% in the fourth quarter. Blue Trust Inc. now owns 153 shares of the company's stock valued at $26,000 after purchasing an additional 143 shares during the last quarter. Opal Wealth Advisors LLC purchased a new position in shares of Boot Barn during the 1st quarter valued at approximately $29,000. Golden State Wealth Management LLC grew its position in Boot Barn by 263.6% during the first quarter. Golden State Wealth Management LLC now owns 280 shares of the company's stock valued at $30,000 after buying an additional 203 shares during the period. Finally, Versant Capital Management Inc raised its position in shares of Boot Barn by 210.8% in the first quarter. Versant Capital Management Inc now owns 317 shares of the company's stock worth $34,000 after acquiring an additional 215 shares during the period.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on BOOT shares. Piper Sandler boosted their target price on shares of Boot Barn from $162.00 to $184.00 and gave the company an "overweight" rating in a report on Thursday, May 15th. Bank of America raised their target price on Boot Barn from $160.00 to $173.00 and gave the company a "buy" rating in a report on Thursday, May 15th. JPMorgan Chase & Co. lifted their target price on Boot Barn from $196.00 to $207.00 and gave the company an "overweight" rating in a research report on Tuesday, May 27th. Robert W. Baird increased their price target on shares of Boot Barn from $140.00 to $180.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. Finally, Stephens started coverage on Boot Barn in a research note on Wednesday, April 9th. They set an "overweight" rating and a $100.00 target price for the company. 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 assigned a strong buy rating to the company's stock. According to MarketBeat.com, Boot Barn currently has a consensus rating of "Moderate Buy" and an average target price of $173.67.

Insider Buying and Selling at Boot Barn

In related news, insider Michael A. Love sold 4,154 shares of the stock in a transaction dated 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 directly owns 2,112 shares of the company's stock, valued at approximately $328,078.08. This represents a 66.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Laurie Marie Grijalva sold 2,438 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $160.67, for a total transaction of $391,713.46. Following the transaction, the insider now directly 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 corporate insiders.

Boot Barn Stock Up 1.0%

BOOT stock opened at $152.64 on Friday. The firm's 50-day simple moving average is $141.12 and its 200 day simple moving average is $134.82. The stock has a market cap of $4.67 billion, a PE ratio of 26.05, a price-to-earnings-growth ratio of 1.78 and a beta of 1.73. Boot Barn Holdings, Inc. has a fifty-two week low of $86.17 and a fifty-two week high of $176.64.

Boot Barn (NYSE:BOOT - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The company reported $1.22 earnings per share for the quarter, missing analysts' consensus estimates of $1.24 by ($0.02). Boot Barn had a net margin of 9.47% and a return on equity of 16.98%. The business had revenue of $453.75 million for the quarter, compared to the consensus estimate of $458.56 million. During the same period last year, the firm posted $0.96 EPS. The business's quarterly revenue was up 16.8% on a year-over-year basis. Equities analysts forecast that Boot Barn Holdings, Inc. will post 5.82 EPS for the current fiscal year.

Boot Barn announced that its board has authorized a share buyback program on Wednesday, May 14th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to repurchase up to 4.8% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board of directors believes its shares are undervalued.

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.

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