Bank of America Corp DE Grows Holdings in Boot Barn Holdings, Inc. (NYSE:BOOT)

Bank of America Corp DE raised its stake in Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 128.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 157,938 shares of the company's stock after buying an additional 88,831 shares during the period. Bank of America Corp DE owned about 0.52% of Boot Barn worth $23,978,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Signaturefd LLC increased its stake in Boot Barn by 201.8% in the fourth quarter. Signaturefd LLC now owns 166 shares of the company's stock valued at $25,000 after acquiring an additional 111 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Boot Barn by 1,430.0% in the 4th quarter. Blue Trust Inc. now owns 153 shares of the company's stock worth $26,000 after purchasing an additional 143 shares in the last quarter. Assetmark Inc. boosted its holdings in shares of Boot Barn by 45.2% in the 4th quarter. Assetmark Inc. now owns 363 shares of the company's stock worth $55,000 after purchasing an additional 113 shares in the last quarter. R Squared Ltd bought a new position in shares of Boot Barn during the 4th quarter valued at about $102,000. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Boot Barn by 212.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 749 shares of the company's stock valued at $115,000 after buying an additional 509 shares in the last quarter.

Analyst Ratings Changes

Several analysts have issued reports on the company. StockNews.com lowered Boot Barn from a "hold" rating to a "sell" rating in a research note on Monday, February 17th. JPMorgan Chase & Co. reduced their target price on shares of Boot Barn from $209.00 to $196.00 and set an "overweight" rating on the stock in a report on Thursday. Bank of America lifted their target price on shares of Boot Barn from $160.00 to $173.00 and gave the stock a "buy" rating in a research report on Thursday. Citigroup upped their price target on shares of Boot Barn from $137.00 to $180.00 and gave the company a "buy" rating in a research report on Friday. Finally, Robert W. Baird raised their price objective on Boot Barn from $140.00 to $180.00 and gave the company an "outperform" rating in a research note on Thursday. One analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Boot Barn has an average rating of "Moderate Buy" and a consensus price target of $170.62.

Boot Barn Stock Up 1.3%

Shares of BOOT opened at $156.99 on Monday. The stock has a market cap of $4.80 billion, a P/E ratio of 28.03, a P/E/G ratio of 1.17 and a beta of 1.59. The business's 50 day moving average price is $107.05 and its 200-day moving average price is $130.08. Boot Barn Holdings, Inc. has a 52 week low of $86.17 and a 52 week high of $176.64.

Boot Barn (NYSE:BOOT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The company reported $1.22 earnings per share 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 company had revenue of $453.75 million for the quarter, compared to the consensus estimate of $458.56 million. During the same quarter in the previous year, the business earned $0.96 earnings per share. Boot Barn's revenue was up 16.8% compared to the same quarter last year. On average, equities analysts anticipate that Boot Barn Holdings, Inc. will post 5.82 EPS for the current year.

Boot Barn announced that its board has approved a share buyback program on Wednesday, May 14th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to buy 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.

Boot Barn 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.

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