Teachers Retirement System of The State of Kentucky Purchases 2,409 Shares of Boot Barn Holdings, Inc. (NYSE:BOOT)

Teachers Retirement System of The State of Kentucky raised its holdings in Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 15.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,585 shares of the company's stock after acquiring an additional 2,409 shares during the quarter. Teachers Retirement System of The State of Kentucky owned 0.06% of Boot Barn worth $1,889,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Signaturefd LLC increased its stake in shares of Boot Barn by 201.8% in the fourth quarter. Signaturefd LLC now owns 166 shares of the company's stock worth $25,000 after purchasing an additional 111 shares during the period. Opal Wealth Advisors LLC bought a new position in Boot Barn during the 1st quarter valued at about $29,000. Golden State Wealth Management LLC grew its stake in Boot Barn by 263.6% during the first quarter. Golden State Wealth Management LLC now owns 280 shares of the company's stock worth $30,000 after buying an additional 203 shares during the last quarter. Versant Capital Management Inc boosted its stake in Boot Barn by 210.8% in the first quarter. Versant Capital Management Inc now owns 317 shares of the company's stock worth $34,000 after purchasing an additional 215 shares in the last quarter. Finally, Huntington National Bank raised its stake in shares of Boot Barn by 54.5% in the fourth quarter. Huntington National Bank now owns 794 shares of the company's stock worth $121,000 after acquiring an additional 280 shares during the last quarter.

Insider Activity

In related news, insider Laurie Marie Grijalva sold 2,438 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $160.67, for a total value of $391,713.46. Following the completion of the transaction, the insider owned 14,593 shares of the company's stock, valued at $2,344,657.31. The trade was a 14.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Michael A. Love sold 4,154 shares of the stock in a transaction dated Friday, May 23rd. The stock was sold at an average price of $155.34, for a total transaction of $645,282.36. Following the sale, the insider owned 2,112 shares in the company, valued at $328,078.08. The trade was a 66.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by insiders.

Boot Barn Stock Down 3.1%

Shares of NYSE BOOT traded down $5.44 during midday trading on Thursday, hitting $167.45. 581,183 shares of the company's stock were exchanged, compared to its average volume of 638,351. Boot Barn Holdings, Inc. has a 12 month low of $86.17 and a 12 month high of $178.92. The firm has a market capitalization of $5.12 billion, a PE ratio of 28.58, a price-to-earnings-growth ratio of 2.03 and a beta of 1.69. The company's 50 day moving average price is $162.57 and its 200 day moving average price is $136.97.

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

Boot Barn declared that its board has initiated a share buyback plan on Wednesday, May 14th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 4.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on BOOT shares. Piper Sandler upped their target price on shares of Boot Barn from $162.00 to $184.00 and gave the company an "overweight" rating in a research report on Thursday, May 15th. KeyCorp lifted their price objective on shares of Boot Barn from $180.00 to $195.00 and gave the stock an "overweight" rating in a research note on Tuesday. Stephens began coverage on shares of Boot Barn in a report on Wednesday, April 9th. They issued an "overweight" rating and a $100.00 price target for the company. Craig Hallum raised Boot Barn from a "hold" rating to a "buy" rating and set a $130.00 target price for the company in a research note on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on Boot Barn from $196.00 to $207.00 and gave the company an "overweight" rating in a report on Tuesday, May 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Boot Barn currently has a consensus rating of "Moderate Buy" and an average target price of $176.08.

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.