Legato Capital Management LLC Sells 4,118 Shares of Boot Barn Holdings, Inc. (NYSE:BOOT)

Legato Capital Management LLC lowered its stake in shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 22.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,912 shares of the company's stock after selling 4,118 shares during the period. Legato Capital Management LLC's holdings in Boot Barn were worth $1,495,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of BOOT. Signaturefd LLC increased its position in 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 last quarter. Opal Wealth Advisors LLC bought a new stake in Boot Barn in the first quarter worth $29,000. Golden State Wealth Management LLC increased its position in Boot Barn by 263.6% in the first quarter. Golden State Wealth Management LLC now owns 280 shares of the company's stock worth $30,000 after purchasing an additional 203 shares during the last quarter. Versant Capital Management Inc increased its position 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 during the last quarter. Finally, Huntington National Bank increased its position in 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 purchasing an additional 280 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BOOT. Robert W. Baird boosted their price target on shares of Boot Barn from $140.00 to $180.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. Craig Hallum raised shares of Boot Barn from a "hold" rating to a "buy" rating and set a $130.00 price objective for the company in a research note on Wednesday, April 23rd. Jefferies Financial Group lowered shares of Boot Barn from a "buy" rating to a "hold" rating and dropped their price objective for the stock from $187.00 to $175.00 in a research note on Wednesday. Stephens initiated coverage on shares of Boot Barn in a research note on Wednesday, April 9th. They set an "overweight" rating and a $100.00 price objective for the company. Finally, Piper Sandler lifted their price objective on shares of Boot Barn from $162.00 to $184.00 and gave the stock an "overweight" rating in a research note on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $176.08.

Boot Barn Trading Up 3.9%

Shares of BOOT traded up $6.60 during trading hours on Friday, reaching $174.03. 530,786 shares of the company traded hands, compared to its average volume of 634,713. The firm has a market cap of $5.32 billion, a price-to-earnings ratio of 29.70, a PEG ratio of 2.05 and a beta of 1.69. Boot Barn Holdings, Inc. has a 12-month low of $86.17 and a 12-month high of $178.92. The stock's fifty day moving average price is $163.17 and its 200 day moving average price is $136.97.

Boot Barn (NYSE:BOOT - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The company reported $1.22 earnings per share for the quarter, missing the consensus estimate of $1.24 by ($0.02). The firm had revenue of $453.75 million during the quarter, compared to the consensus estimate of $458.56 million. Boot Barn had a net margin of 9.47% and a return on equity of 16.98%. The business's revenue was up 16.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.96 earnings per share. On average, research analysts forecast 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 approved 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 purchase up to 4.8% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company's board believes its stock is undervalued.

Insider Activity

In related news, insider Laurie Marie Grijalva sold 2,438 shares of Boot Barn 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 directly owned 14,593 shares in the company, 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 legal filing with the SEC, which is available through the SEC website. Also, insider Michael A. Love sold 4,154 shares of Boot Barn stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $155.34, for a total value of $645,282.36. Following the completion of the sale, the insider owned 2,112 shares of the company's stock, 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. 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.