Dale Q Rice Investment Management Ltd Lowers Position in Boot Barn Holdings, Inc. (NYSE:BOOT)

Dale Q Rice Investment Management Ltd lowered its position in Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 24.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 7,672 shares of the company's stock after selling 2,500 shares during the quarter. Dale Q Rice Investment Management Ltd's holdings in Boot Barn were worth $824,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank of Montreal Can grew its position in shares of Boot Barn by 1.4% in the fourth quarter. Bank of Montreal Can now owns 5,936 shares of the company's stock valued at $901,000 after purchasing an additional 82 shares in the last quarter. Cetera Investment Advisers boosted its stake in Boot Barn by 1.0% in the 4th quarter. Cetera Investment Advisers now owns 8,179 shares of the company's stock worth $1,242,000 after purchasing an additional 83 shares during the period. Coldstream Capital Management Inc. grew its holdings in Boot Barn by 7.6% during the 4th quarter. Coldstream Capital Management Inc. now owns 1,367 shares of the company's stock valued at $208,000 after buying an additional 97 shares in the last quarter. Summit Investment Advisors Inc. increased its position in shares of Boot Barn by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,096 shares of the company's stock valued at $470,000 after buying an additional 98 shares during the period. Finally, Arizona State Retirement System increased its position in shares of Boot Barn by 1.1% during the fourth quarter. Arizona State Retirement System now owns 8,853 shares of the company's stock valued at $1,344,000 after buying an additional 100 shares during the period.

Wall Street Analyst Weigh In

Several brokerages recently commented on BOOT. Piper Sandler boosted their price objective on shares of Boot Barn from $162.00 to $184.00 and gave the company an "overweight" rating in a research note on Thursday, May 15th. Craig Hallum raised shares of Boot Barn from a "hold" rating to a "buy" rating and set a $130.00 price target for the company in a report on Wednesday, April 23rd. Bank of America boosted their price target on shares of Boot Barn from $160.00 to $173.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. JPMorgan Chase & Co. upped their price target on shares of Boot Barn from $196.00 to $207.00 and gave the stock an "overweight" rating in a report on Tuesday, May 27th. Finally, Stephens began coverage on Boot Barn in a research report on Wednesday, April 9th. They issued an "overweight" rating and a $100.00 price objective on the stock. One research analyst has rated the stock with a sell rating, one has given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $173.67.

Boot Barn Stock Performance

BOOT traded down $5.81 during trading on Monday, reaching $158.38. The stock had a trading volume of 127,115 shares, compared to its average volume of 815,692. The stock has a market cap of $4.84 billion, a PE ratio of 27.00, a PEG ratio of 1.93 and a beta of 1.73. The business has a 50-day moving average of $136.22 and a 200-day moving average of $134.52. Boot Barn Holdings, Inc. has a one year low of $86.17 and a one year high of $176.64.

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

Boot Barn announced that its board has approved a stock buyback program on Wednesday, May 14th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to purchase 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 stock is undervalued.

Insider Transactions at Boot Barn

In other news, insider Michael A. Love sold 4,154 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $155.34, for a total transaction of $645,282.36. Following the transaction, the insider now directly owns 2,112 shares of the company's stock, valued at approximately $328,078.08. The trade was a 66.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Laurie Marie Grijalva sold 2,438 shares of the company'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 value of $391,713.46. Following the transaction, the insider now owns 14,593 shares of the company's stock, valued at approximately $2,344,657.31. This represents a 14.32% decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company insiders.

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.