Bank of America Corp DE Acquires 88,831 Shares of Boot Barn Holdings, Inc. (NYSE:BOOT)

Bank of America Corp DE boosted its holdings in Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 128.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 approximately 0.52% of Boot Barn worth $23,978,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of BOOT. Park Avenue Securities LLC lifted its holdings in Boot Barn by 26.7% in the fourth quarter. Park Avenue Securities LLC now owns 1,858 shares of the company's stock valued at $282,000 after buying an additional 391 shares during the period. Artemis Investment Management LLP acquired a new stake in Boot Barn in the fourth quarter worth $36,361,000. Mitsubishi UFJ Asset Management UK Ltd. raised its holdings in Boot Barn by 85.7% in the fourth quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 13,000 shares of the company's stock worth $1,974,000 after purchasing an additional 6,000 shares during the period. Blue Trust Inc. raised 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 worth $26,000 after purchasing an additional 143 shares during the period. Finally, KBC Group NV raised its holdings in Boot Barn by 28.5% in the fourth quarter. KBC Group NV now owns 1,222 shares of the company's stock worth $186,000 after purchasing an additional 271 shares during the period.

Wall Street Analysts Forecast Growth

BOOT has been the topic of several analyst reports. Robert W. Baird increased their target price on shares of Boot Barn from $140.00 to $180.00 and gave the stock an "outperform" rating in a report 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 for the company in a research note on Wednesday, April 23rd. KeyCorp reduced their target price on shares of Boot Barn from $190.00 to $165.00 and set an "overweight" rating for the company in a report on Tuesday, April 29th. UBS Group lifted their price target on shares of Boot Barn from $156.00 to $210.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Finally, 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. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $170.62.

Boot Barn Trading Down 1.5%

NYSE BOOT traded down $2.32 on Friday, hitting $157.26. 815,938 shares of the company were exchanged, compared to its average volume of 829,800. The company has a market cap of $4.81 billion, a PE ratio of 28.08, a PEG ratio of 1.17 and a beta of 1.59. Boot Barn Holdings, Inc. has a 12 month low of $86.17 and a 12 month high of $176.64. The stock has a fifty day moving average of $112.77 and a 200-day moving average of $131.16.

Boot Barn (NYSE:BOOT - Get Free Report) last released its quarterly earnings data 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 9.36% and a return on equity of 17.11%. The business had revenue of $453.75 million during the quarter, compared to the consensus estimate of $458.56 million. During the same period last year, the business posted $0.96 earnings per share. The firm's quarterly revenue was up 16.8% on a year-over-year basis. On average, analysts expect that Boot Barn Holdings, Inc. will post 5.82 earnings per share for the current year.

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

Insider Buying and Selling at Boot Barn

In other news, insider Laurie Marie Grijalva sold 2,438 shares of the stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $160.67, for a total value of $391,713.46. Following the completion of the sale, the insider now owns 14,593 shares in the company, valued at $2,344,657.31. This represents a 14.32% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.00% of the company's stock.

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.