TimesSquare Capital Management LLC Has $30 Million Stock Position in Boot Barn Holdings, Inc. (NYSE:BOOT)

TimesSquare Capital Management LLC reduced its holdings in Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 3.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 279,284 shares of the company's stock after selling 10,357 shares during the period. TimesSquare Capital Management LLC owned approximately 0.91% of Boot Barn worth $30,003,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the business. Bank of Montreal Can grew its stake in Boot Barn by 1.4% in the fourth quarter. Bank of Montreal Can now owns 5,936 shares of the company's stock valued at $901,000 after purchasing an additional 82 shares in the last quarter. Cetera Investment Advisers raised its position in shares of Boot Barn by 1.0% in the fourth quarter. Cetera Investment Advisers now owns 8,179 shares of the company's stock valued at $1,242,000 after purchasing an additional 83 shares during the period. Coldstream Capital Management Inc. lifted its position in Boot Barn by 7.6% during the fourth quarter. Coldstream Capital Management Inc. now owns 1,367 shares of the company's stock worth $208,000 after acquiring an additional 97 shares during the last quarter. Summit Investment Advisors Inc. boosted 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 valued at $470,000 after purchasing an additional 98 shares during the period. Finally, Park Avenue Securities LLC grew its stake in shares of Boot Barn by 5.7% in the first quarter. Park Avenue Securities LLC now owns 1,963 shares of the company's stock valued at $211,000 after acquiring an additional 105 shares in the last quarter.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Stephens started coverage on Boot Barn in a research note on Wednesday, April 9th. They set an "overweight" rating and a $100.00 price objective on the stock. JPMorgan Chase & Co. upped their price objective on shares of Boot Barn from $196.00 to $207.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 27th. Robert W. Baird raised their target price on shares of Boot Barn from $140.00 to $180.00 and gave the company an "outperform" rating in a report on Thursday, May 15th. 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. Finally, Craig Hallum upgraded shares of Boot Barn from a "hold" rating to a "buy" rating and set a $130.00 price target on the stock in a research report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, one has given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $173.67.

Boot Barn Trading Down 0.1%

Boot Barn stock traded down $0.25 during mid-day trading on Monday, reaching $170.79. The company had a trading volume of 567,617 shares, compared to its average volume of 936,860. The business has a fifty day simple moving average of $154.84 and a 200 day simple moving average of $135.82. The company has a market cap of $5.22 billion, a P/E ratio of 29.15, a P/E/G ratio of 2.01 and a beta of 1.69. Boot Barn Holdings, Inc. has a fifty-two week low of $86.17 and a fifty-two week high of $177.10.

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). Boot Barn had a net margin of 9.47% and a return on equity of 16.98%. The firm had revenue of $453.75 million for the quarter, compared to analyst estimates of $458.56 million. During the same period last year, the business earned $0.96 EPS. The company's revenue was up 16.8% compared to the same quarter last year. Research analysts forecast that Boot Barn Holdings, Inc. will post 5.82 EPS for the current year.

Boot Barn declared that its Board of Directors has initiated a stock buyback program on Wednesday, May 14th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to repurchase up to 4.8% of its shares through open market purchases. Shares buyback programs are often an indication that the company's leadership believes its shares are undervalued.

Insider Activity

In other news, insider Laurie Marie Grijalva sold 2,438 shares of the company's stock in a transaction that occurred on 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 transaction, the insider owned 14,593 shares of the company's stock, valued at $2,344,657.31. This represents a 14.32% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Michael A. Love sold 4,154 shares of Boot Barn stock in a transaction that occurred on Friday, May 23rd. The stock was 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. This represents 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 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.