Bank of New York Mellon Corp Sells 7,975 Shares of Boot Barn Holdings, Inc. (NYSE:BOOT)

Bank of New York Mellon Corp trimmed its holdings in shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 3.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 204,867 shares of the company's stock after selling 7,975 shares during the period. Bank of New York Mellon Corp owned about 0.67% of Boot Barn worth $22,009,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Bank of Montreal Can raised 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 purchasing an additional 82 shares during the period. Cetera Investment Advisers raised its stake in shares of Boot Barn by 1.0% during 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. raised its stake in shares of Boot Barn by 7.6% during 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 during the period. Summit Investment Advisors Inc. raised its stake in shares of Boot Barn by 3.3% during 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 during the period. Finally, Park Avenue Securities LLC raised its stake in shares of Boot Barn by 5.7% during the 1st quarter. Park Avenue Securities LLC now owns 1,963 shares of the company's stock worth $211,000 after purchasing an additional 105 shares during the period.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Robert W. Baird lifted their price objective on Boot Barn from $140.00 to $180.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. Craig Hallum raised Boot Barn from a "hold" rating to a "buy" rating and set a $130.00 price objective for the company in a report on Wednesday, April 23rd. JPMorgan Chase & Co. lifted their price objective on Boot Barn from $196.00 to $207.00 and gave the stock an "overweight" rating in a report on Tuesday, May 27th. UBS Group lifted their price objective on Boot Barn from $156.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Finally, Bank of America lifted their price objective on 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 assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $173.67.

Insider Activity

In other news, insider Michael A. Love sold 4,154 shares of the business's 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 completion of the transaction, the insider owned 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 transaction, the insider directly owned 14,593 shares of the company's stock, valued at $2,344,657.31. The trade was 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 insiders.

Boot Barn Price Performance

BOOT stock traded up $1.69 during mid-day trading on Friday, reaching $170.80. 500,589 shares of the company traded hands, compared to its average volume of 812,248. Boot Barn Holdings, Inc. has a 52-week low of $86.17 and a 52-week high of $177.10. The company has a market capitalization of $5.22 billion, a P/E ratio of 29.15, a P/E/G ratio of 1.96 and a beta of 1.69. The company has a fifty day moving average price of $159.15 and a 200-day moving average price of $136.43.

Boot Barn (NYSE:BOOT - Get Free Report) last issued 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). Boot Barn had a return on equity of 16.98% and a net margin of 9.47%. The business had revenue of $453.75 million for the quarter, compared to analysts' expectations of $458.56 million. During the same period in the previous year, the firm posted $0.96 EPS. The firm's revenue for the quarter was up 16.8% compared to the same quarter last year. As a group, analysts forecast that Boot Barn Holdings, Inc. will post 5.82 EPS for the current year.

Boot Barn announced that its board has authorized 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 buy 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.

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.