Boot Barn Holdings, Inc. $BOOT Shares Purchased by Arrowstreet Capital Limited Partnership

Key Points

• Arrowstreet Capital increased its Boot Barn stake by 361.5% in the first quarter, ending with 48,448 shares worth approximately $7.1 million. Several other institutional investors also added to or initiated positions.
• Boot Barn reported fiscal first-quarter EPS of $2.29 versus the $1.69 consensus, while revenue rose 17.7% year over year to $593.5 million. Management raised its fiscal 2027 outlook to $2.6 billion in sales and $8.80–$9.23 EPS, partly reflecting a $0.46 tariff-refund benefit.
• Despite strong results, shares opened at $148.89 and were trading below their 50- and 200-day moving averages as July sales slowed and guidance raised concerns. Analysts remain moderately bullish, but several firms lowered price targets, including TD Cowen to $190.

Arrowstreet Capital Limited Partnership grew its holdings in shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 361.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 48,448 shares of the company's stock after purchasing an additional 37,951 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.16% of Boot Barn worth $7,091,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Principal Financial Group Inc. boosted its holdings in shares of Boot Barn by 11.4% during the 4th quarter. Principal Financial Group Inc. now owns 393,098 shares of the company's stock worth $69,370,000 after purchasing an additional 40,282 shares during the last quarter. UBS Group AG increased its holdings in shares of Boot Barn by 16.4% in the fourth quarter. UBS Group AG now owns 172,380 shares of the company's stock valued at $30,420,000 after purchasing an additional 24,229 shares during the last quarter. Asset Management One Co. Ltd. acquired a new stake in shares of Boot Barn in the fourth quarter valued at approximately $2,644,000. Comerica Bank increased its holdings in shares of Boot Barn by 71.5% in the fourth quarter. Comerica Bank now owns 34,439 shares of the company's stock valued at $6,077,000 after purchasing an additional 14,354 shares during the last quarter. Finally, Burney Co. purchased a new position in Boot Barn during the fourth quarter worth approximately $3,782,000.

Key Stories Impacting Boot Barn

Here are the key news stories impacting Boot Barn this week:

• Positive Sentiment: Boot Barn reported fiscal Q1 earnings of $2.29 per share, well above the $1.69 analyst consensus, while revenue increased 17.7% year over year to $593.5 million and exceeded estimates. Store expansion and e-commerce momentum supported the results. Boot Barn Q1 Earnings and Revenues Top Estimates
• Positive Sentiment: Management raised its fiscal 2027 outlook, projecting approximately $2.6 billion in sales and EPS of $8.80 to $9.23. The updated EPS range includes an estimated $0.46 benefit from tariff refunds, while analysts cited store growth, digital sales and the refund as key drivers of the beat. Boot Barn Fiscal 2027 Outlook
• Neutral Sentiment: Boot Barn continues expanding its store base, including a planned location in a Gilroy, California, shopping center previously occupied by Old Navy. The expansion supports long-term revenue growth but also increases operating costs and does not immediately resolve valuation concerns. Boot Barn Gilroy Store Expansion
• Negative Sentiment: July sales have slowed, raising concerns that demand could moderate after the first-quarter beat. Reports also indicate that quarterly revenue guidance fell short of expectations, making investors less confident in the pace of growth during the next quarter. Boot Barn Beats Q1 Estimates but July Sales Slow
• Negative Sentiment: The tariff refund is a nonrecurring benefit, meaning part of the EPS outlook increase may not represent ongoing operating improvement. In addition, TD Cowen lowered its price target from $225 to $190, retaining a Buy rating but signaling reduced valuation upside and greater caution. TD Cowen Lowers Boot Barn Price Target

Boot Barn Trading Down 3.6%

NYSE BOOT opened at $148.89 on Friday. The stock has a fifty day simple moving average of $162.76 and a 200-day simple moving average of $168.04. The stock has a market cap of $4.51 billion, a PE ratio of 18.85, a P/E/G ratio of 0.97 and a beta of 1.69. Boot Barn Holdings, Inc. has a twelve month low of $133.18 and a twelve month high of $210.25.

Boot Barn (NYSE:BOOT - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $2.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.60. Boot Barn had a net margin of 10.35% and a return on equity of 18.78%. The firm had revenue of $593.51 million for the quarter, compared to analyst estimates of $583.15 million. During the same period in the previous year, the firm earned $1.74 EPS. Boot Barn's revenue was up 17.7% on a year-over-year basis. Boot Barn has set its FY 2027 guidance at 8.800-9.230 EPS and its Q2 2027 guidance at 1.550-1.650 EPS. Research analysts predict that Boot Barn Holdings, Inc. will post 9.16 EPS for the current year.

Analyst Ratings Changes

BOOT has been the topic of a number of recent research reports. BTIG Research lowered their price objective on Boot Barn from $235.00 to $215.00 and set a "buy" rating on the stock in a research note on Thursday. Weiss Ratings raised Boot Barn from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday. Bank of America reduced their price target on Boot Barn from $224.00 to $206.00 and set a "buy" rating on the stock in a report on Friday, May 15th. UBS Group set a $225.00 price target on shares of Boot Barn in a research report on Wednesday, June 17th. Finally, Robert W. Baird set a $212.00 price objective on shares of Boot Barn in a report on Thursday. Eleven investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $222.27.

Boot Barn Profile

Boot Barn, Inc is a leading specialty retailer focused on western and work-related footwear, apparel and accessories. The company operates full-price and outlet retail stores under the Boot Barn and BootBarn.com brands, offering a wide assortment of cowboy boots, work boots, casual and fashion footwear, western and work apparel, hats, belts and related accessories. In addition to its brick-and-mortar network, Boot Barn maintains an e-commerce platform to serve customers seeking ranch-and-rodeo style clothing and rugged workwear from coast to coast.

Founded in 1978 in Southern California, Boot Barn began as a single store catering to ranchers, farmworkers and western enthusiasts.

Want to see what other hedge funds are holding BOOT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source