WCM Investment Management LLC Buys 84,898 Shares of Boot Barn Holdings, Inc. (NYSE:BOOT)

WCM Investment Management LLC grew its position in shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 62.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 221,236 shares of the company's stock after buying an additional 84,898 shares during the period. WCM Investment Management LLC owned 0.72% of Boot Barn worth $23,046,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in BOOT. Signaturefd LLC lifted its holdings in Boot Barn by 201.8% during the fourth quarter. Signaturefd LLC now owns 166 shares of the company's stock valued at $25,000 after purchasing an additional 111 shares during the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of Boot Barn in the first quarter valued at approximately $29,000. Golden State Wealth Management LLC lifted its stake in shares of Boot Barn by 263.6% during the 1st quarter. Golden State Wealth Management LLC now owns 280 shares of the company's stock valued at $30,000 after buying an additional 203 shares in the last quarter. Versant Capital Management Inc boosted its holdings in Boot Barn by 210.8% in the 1st quarter. Versant Capital Management Inc now owns 317 shares of the company's stock worth $34,000 after buying an additional 215 shares during the period. Finally, Assetmark Inc. grew its stake in Boot Barn by 45.2% in the 4th quarter. Assetmark Inc. now owns 363 shares of the company's stock valued at $55,000 after buying an additional 113 shares in the last quarter.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. KeyCorp dropped their target price on Boot Barn from $190.00 to $165.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 29th. Citigroup increased their price objective on Boot Barn from $137.00 to $180.00 and gave the stock a "buy" rating in a report on Friday, May 16th. JPMorgan Chase & Co. raised their target price on Boot Barn from $196.00 to $207.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 27th. Stephens began coverage on Boot Barn in a research report on Wednesday, April 9th. They set an "overweight" rating and a $100.00 price target on the stock. Finally, Bank of America increased their price target on shares of Boot Barn from $160.00 to $173.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. One analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $173.67.

Boot Barn Price Performance

BOOT traded up $4.74 during midday trading on Thursday, reaching $164.93. 386,374 shares of the company's stock traded hands, compared to its average volume of 817,966. Boot Barn Holdings, Inc. has a 52 week low of $86.17 and a 52 week high of $176.64. The firm has a fifty day moving average of $147.43 and a two-hundred day moving average of $135.20. The stock has a market capitalization of $5.05 billion, a price-to-earnings ratio of 28.15, a P/E/G ratio of 1.88 and a beta of 1.69.

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

Boot Barn announced that its board has approved a stock repurchase program on Wednesday, May 14th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to buy up to 4.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling

In other 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 transaction of $645,282.36. Following the sale, the insider owned 2,112 shares in the company, valued at approximately $328,078.08. The trade was a 66.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Laurie Marie Grijalva sold 2,438 shares of the company's stock in a transaction dated 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 sale, the insider directly 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 disclosure for this sale can be found here. Company insiders own 1.00% of the company's stock.

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.