Oppenheimer Asset Management Inc. Boosts Position in Boot Barn Holdings, Inc. (NYSE:BOOT)

Oppenheimer Asset Management Inc. increased its position in shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 29.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,731 shares of the company's stock after buying an additional 3,341 shares during the period. Oppenheimer Asset Management Inc.'s holdings in Boot Barn were worth $1,583,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in BOOT. Charles Schwab Investment Management Inc. grew its stake in Boot Barn by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 358,579 shares of the company's stock valued at $54,439,000 after purchasing an additional 5,881 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Boot Barn in the 4th quarter worth approximately $42,440,000. SG Americas Securities LLC acquired a new position in Boot Barn in the 1st quarter worth approximately $916,000. Knights of Columbus Asset Advisors LLC grew its stake in shares of Boot Barn by 21.7% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 17,724 shares of the company's stock worth $2,691,000 after purchasing an additional 3,162 shares during the period. Finally, GAMMA Investing LLC grew its stake in shares of Boot Barn by 8,368.8% during the 1st quarter. GAMMA Investing LLC now owns 42,005 shares of the company's stock worth $4,513,000 after purchasing an additional 41,509 shares during the period.

Insider Activity at Boot Barn

In other news, insider Laurie Marie Grijalva sold 2,438 shares of Boot Barn stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $160.67, for a total transaction of $391,713.46. Following the transaction, the insider now owns 14,593 shares in the company, valued at $2,344,657.31. The trade was a 14.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael A. Love sold 4,154 shares of Boot Barn stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $155.34, for a total value of $645,282.36. Following the transaction, the insider now owns 2,112 shares in the company, valued at approximately $328,078.08. This represents a 66.29% decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by corporate insiders.

Boot Barn Stock Performance

Shares of NYSE:BOOT traded up $2.26 during midday trading on Friday, reaching $154.81. 1,052,187 shares of the company's stock traded hands, compared to its average volume of 818,296. Boot Barn Holdings, Inc. has a 1 year low of $86.17 and a 1 year high of $176.64. The company has a market cap of $4.74 billion, a P/E ratio of 26.42, a PEG ratio of 1.79 and a beta of 1.73. The company has a fifty day simple moving average of $142.39 and a two-hundred day simple moving average of $134.87.

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

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Stephens assumed 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 on the stock. UBS Group raised their price objective on shares of Boot Barn from $156.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. KeyCorp dropped their price objective on shares of Boot Barn from $190.00 to $165.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 29th. JPMorgan Chase & Co. raised their price objective on Boot Barn from $196.00 to $207.00 and gave the company an "overweight" rating in a report on Tuesday, May 27th. Finally, Bank of America raised their price objective on Boot Barn from $160.00 to $173.00 and gave the company a "buy" rating in a report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $173.67.

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.