Westwood Holdings Group Inc. Raises Holdings in Boot Barn Holdings, Inc. (NYSE:BOOT)

Westwood Holdings Group Inc. increased its position in Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 4.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 210,875 shares of the company's stock after buying an additional 8,912 shares during the period. Westwood Holdings Group Inc. owned 0.69% of Boot Barn worth $32,015,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Boot Barn by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 3,409,865 shares of the company's stock valued at $517,686,000 after purchasing an additional 73,089 shares during the period. FMR LLC raised its position in Boot Barn by 47.3% during the fourth quarter. FMR LLC now owns 2,211,300 shares of the company's stock valued at $335,720,000 after purchasing an additional 709,903 shares during the period. Wellington Management Group LLP raised its position in Boot Barn by 48.6% during the fourth quarter. Wellington Management Group LLP now owns 2,161,052 shares of the company's stock valued at $328,091,000 after purchasing an additional 706,518 shares during the period. Capital Research Global Investors raised its position in Boot Barn by 32.6% during the fourth quarter. Capital Research Global Investors now owns 1,141,821 shares of the company's stock valued at $173,351,000 after purchasing an additional 280,892 shares during the period. Finally, Alliancebernstein L.P. raised its position in Boot Barn by 13.2% during the fourth quarter. Alliancebernstein L.P. now owns 846,983 shares of the company's stock valued at $128,589,000 after purchasing an additional 99,029 shares during the period.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. KeyCorp cut their target price on Boot Barn from $190.00 to $165.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 29th. Stephens assumed coverage on Boot Barn in a research note on Wednesday, April 9th. They set an "overweight" rating and a $100.00 target price on the stock. Piper Sandler upped their target price on Boot Barn from $162.00 to $184.00 and gave the company an "overweight" rating in a research note on Thursday, May 15th. Wall Street Zen cut Boot Barn from a "hold" rating to a "sell" rating in a research note on Monday, February 17th. Finally, Robert W. Baird upped their target price on Boot Barn from $140.00 to $180.00 and gave the company an "outperform" rating in a research note on Thursday, May 15th. One analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $170.62.

Boot Barn Price Performance

NYSE BOOT traded down $2.32 during midday trading on Friday, hitting $157.26. 815,938 shares of the company traded hands, compared to its average volume of 829,800. The company has a market cap of $4.81 billion, a PE ratio of 28.08, a price-to-earnings-growth ratio of 1.17 and a beta of 1.59. The company's 50-day simple moving average is $112.77 and its 200-day simple moving average is $131.16. Boot Barn Holdings, Inc. has a 52 week low of $86.17 and a 52 week high of $176.64.

Boot Barn (NYSE:BOOT - Get Free Report) last announced 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 company had revenue of $453.75 million for the quarter, compared to the consensus estimate of $458.56 million. Boot Barn had a net margin of 9.36% and a return on equity of 17.11%. The firm's revenue was up 16.8% compared to the same quarter last year. During the same period last year, the business posted $0.96 EPS. On average, research analysts predict that Boot Barn Holdings, Inc. will post 5.82 earnings per share for the current year.

Boot Barn declared that its Board of Directors has initiated a share buyback program on Wednesday, May 14th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to reacquire up to 4.8% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

In other Boot Barn news, insider Laurie Marie Grijalva sold 2,438 shares of the firm'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 sale, the insider now owns 14,593 shares of the company's stock, valued at approximately $2,344,657.31. This trade represents a 14.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.00% of the company's stock.

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.