Harbor Capital Advisors Inc. Boosts Stock Position in Boot Barn Holdings, Inc. (NYSE:BOOT)

Harbor Capital Advisors Inc. boosted its holdings in Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 32.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,802 shares of the company's stock after purchasing an additional 4,863 shares during the period. Harbor Capital Advisors Inc. owned about 0.06% of Boot Barn worth $2,127,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in BOOT. Bank of Montreal Can lifted its stake in shares of Boot Barn by 1.4% during the 4th quarter. Bank of Montreal Can now owns 5,936 shares of the company's stock worth $901,000 after buying an additional 82 shares during the last quarter. Cetera Investment Advisers raised 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 in the last quarter. Coldstream Capital Management Inc. raised its stake in Boot Barn by 7.6% in the 4th quarter. Coldstream Capital Management Inc. now owns 1,367 shares of the company's stock worth $208,000 after purchasing an additional 97 shares in the last quarter. Summit Investment Advisors Inc. raised its stake in Boot Barn by 3.3% in the 4th quarter. Summit Investment Advisors Inc. now owns 3,096 shares of the company's stock worth $470,000 after purchasing an additional 98 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its stake in Boot Barn by 0.7% in the 4th quarter. Louisiana State Employees Retirement System now owns 14,800 shares of the company's stock worth $2,247,000 after purchasing an additional 100 shares in the last quarter.

Analysts Set New Price Targets

Several analysts have weighed in on BOOT shares. JPMorgan Chase & Co. lifted their price objective on shares of Boot Barn from $196.00 to $207.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 27th. Stephens assumed coverage on shares of Boot Barn in a research report on Wednesday, April 9th. They issued an "overweight" rating and a $100.00 target price for the company. Wall Street Zen cut shares of Boot Barn from a "hold" rating to a "sell" rating in a research report on Monday, February 17th. Bank of America boosted their target price 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. Finally, UBS Group boosted their target price on shares of Boot Barn from $156.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Boot Barn presently has an average rating of "Moderate Buy" and a consensus price target of $173.67.

Boot Barn Trading Down 3.7%

Shares of BOOT stock traded down $6.08 during trading hours on Friday, reaching $157.07. The stock had a trading volume of 660,117 shares, compared to its average volume of 822,755. The stock's fifty day simple moving average is $129.75 and its 200 day simple moving average is $133.87. Boot Barn Holdings, Inc. has a 12 month low of $86.17 and a 12 month high of $176.64. The firm has a market capitalization of $4.81 billion, a PE ratio of 28.05, a PEG ratio of 1.17 and a beta of 1.73.

Boot Barn (NYSE:BOOT - Get Free Report) last announced its earnings results 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). The company had revenue of $453.75 million during the quarter, compared to analysts' expectations of $458.56 million. Boot Barn had a net margin of 9.36% and a return on equity of 17.11%. The company's revenue for the quarter was up 16.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.96 earnings per share. As a group, equities research analysts anticipate that Boot Barn Holdings, Inc. will post 5.82 EPS for the current fiscal year.

Boot Barn announced that its board has authorized a share repurchase program on Wednesday, May 14th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 4.8% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Insider Activity at Boot Barn

In related news, insider Michael A. Love sold 4,154 shares of the business's stock in a transaction 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 sale, the insider now owns 2,112 shares in the company, valued at approximately $328,078.08. The trade was a 66.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Laurie Marie Grijalva sold 2,438 shares of Boot Barn stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $160.67, for a total transaction of $391,713.46. Following the completion of the transaction, the insider now directly owns 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 disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate 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.