Boot Barn Holdings, Inc. (NYSE:BOOT) Shares Bought by Blair William & Co. IL

Key Points

• Blair William & Co. IL increased its stake in Boot Barn Holdings, Inc. by 52.4%, acquiring an additional 2,090 shares in the first quarter, bringing their total holdings to 6,079 shares valued at $653,000.
• Multiple analysts have provided ratings for Boot Barn, with an average rating of "Moderate Buy" and a consensus price target of $182.54, indicating confidence in its future performance.
• Boot Barn recently announced a stock repurchase plan of $200 million, allowing the company to buy back up to 4.8% of its outstanding shares, suggesting that its leadership believes the stock is undervalued.

Blair William & Co. IL boosted its position in shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 52.4% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,079 shares of the company's stock after buying an additional 2,090 shares during the quarter. Blair William & Co. IL's holdings in Boot Barn were worth $653,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. lifted its position in shares of Boot Barn by 29.3% during the first quarter. Oppenheimer Asset Management Inc. now owns 14,731 shares of the company's stock worth $1,583,000 after purchasing an additional 3,341 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Boot Barn during the first quarter worth $916,000. KBC Group NV lifted its position in shares of Boot Barn by 21.8% during the first quarter. KBC Group NV now owns 1,489 shares of the company's stock worth $160,000 after purchasing an additional 267 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Boot Barn by 8,368.8% during the first quarter. GAMMA Investing LLC now owns 42,005 shares of the company's stock worth $4,513,000 after purchasing an additional 41,509 shares during the last quarter. Finally, Artemis Investment Management LLP raised its holdings in shares of Boot Barn by 206.5% in the first 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 in the last quarter.

Wall Street Analyst Weigh In

BOOT has been the subject of several recent research reports. Cowen restated a "buy" rating on shares of Boot Barn in a report on Monday, July 28th. Citigroup lifted their price objective on Boot Barn from $137.00 to $180.00 and gave the company a "buy" rating in a report on Friday, May 16th. UBS Group lifted their price objective on Boot Barn from $156.00 to $210.00 and gave the company a "buy" rating in a report on Thursday, May 15th. JPMorgan Chase & Co. lifted their price objective on Boot Barn from $207.00 to $247.00 and gave the company an "overweight" rating in a report on Monday, July 28th. Finally, KeyCorp lifted their price objective on Boot Barn from $195.00 to $210.00 and gave the company an "overweight" rating in a report on Friday, August 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Boot Barn has a consensus rating of "Moderate Buy" and a consensus price target of $182.54.

Insider Buying and Selling

In related news, insider Laurie Marie Grijalva sold 2,438 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $160.67, for a total value of $391,713.46. Following the sale, the insider owned 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael A. Love sold 4,154 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $155.34, for a total value of $645,282.36. Following the completion of the sale, the insider owned 2,112 shares in the company, valued at approximately $328,078.08. This represents a 66.29% decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

Boot Barn Trading Down 0.4%

Shares of BOOT stock traded down $0.71 during trading hours on Friday, reaching $161.76. 70,682 shares of the company's stock were exchanged, compared to its average volume of 895,719. Boot Barn Holdings, Inc. has a 1 year low of $86.17 and a 1 year high of $183.60. The stock has a market cap of $4.94 billion, a PE ratio of 25.52, a PEG ratio of 1.71 and a beta of 1.76. The stock's fifty day moving average price is $165.93 and its two-hundred day moving average price is $138.14.

Boot Barn (NYSE:BOOT - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $1.74 earnings per share for the quarter, topping analysts' consensus estimates of $1.55 by $0.19. Boot Barn had a return on equity of 17.73% and a net margin of 9.81%. The business had revenue of $504.07 million for the quarter, compared to analyst estimates of $489.49 million. During the same quarter in the previous year, the firm earned $1.26 earnings per share. The company's revenue was up 19.1% on a year-over-year basis. On average, equities analysts expect that Boot Barn Holdings, Inc. will post 5.82 EPS for the current fiscal year.

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

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.