Azzad Asset Management Inc. ADV Has $2.36 Million Holdings in Boot Barn Holdings, Inc. (NYSE:BOOT)

Azzad Asset Management Inc. ADV lifted its stake in Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 65.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 15,520 shares of the company's stock after acquiring an additional 6,149 shares during the quarter. Azzad Asset Management Inc. ADV owned approximately 0.05% of Boot Barn worth $2,356,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of BOOT. Bank of Montreal Can increased its position in Boot Barn by 1.4% during the fourth quarter. Bank of Montreal Can now owns 5,936 shares of the company's stock worth $901,000 after buying an additional 82 shares during the last quarter. Cetera Investment Advisers increased its position in Boot Barn by 1.0% during the fourth quarter. Cetera Investment Advisers now owns 8,179 shares of the company's stock worth $1,242,000 after buying an additional 83 shares during the last quarter. Coldstream Capital Management Inc. increased 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 buying an additional 97 shares during the last quarter. Summit Investment Advisors Inc. increased its position in Boot Barn by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,096 shares of the company's stock worth $470,000 after buying an additional 98 shares during the last quarter. Finally, Louisiana State Employees Retirement System increased its position in Boot Barn by 0.7% during the fourth quarter. Louisiana State Employees Retirement System now owns 14,800 shares of the company's stock worth $2,247,000 after buying an additional 100 shares during the last quarter.

Insider Activity at Boot Barn

In other Boot Barn news, insider Michael A. Love sold 4,154 shares of the business's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $155.34, for a total transaction of $645,282.36. Following the completion of the transaction, the insider now directly owns 2,112 shares in the company, valued at $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 is available at this link. Also, insider Laurie Marie Grijalva sold 2,438 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The shares were 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 of the company's stock, valued at approximately $2,344,657.31. This represents a 14.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

BOOT has been the topic of a number of recent analyst reports. KeyCorp lowered their price target on Boot Barn from $190.00 to $165.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 29th. UBS Group boosted their price target on Boot Barn from $156.00 to $210.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Robert W. Baird boosted their price target on Boot Barn from $140.00 to $180.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. Stephens began coverage on Boot Barn in a report on Wednesday, April 9th. They set an "overweight" rating and a $100.00 price objective for the company. Finally, Citigroup boosted their price objective on Boot Barn from $137.00 to $180.00 and gave the stock a "buy" rating in a report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Boot Barn currently has a consensus rating of "Moderate Buy" and an average price target of $171.46.

Boot Barn Trading Up 0.7%

Shares of NYSE:BOOT traded up $1.09 during trading on Friday, reaching $160.32. 690,185 shares of the stock were exchanged, compared to its average volume of 831,613. The firm has a market cap of $4.90 billion, a PE ratio of 28.63, a PEG ratio of 1.17 and a beta of 1.59. The stock has a 50-day moving average price of $118.01 and a 200-day moving average price of $132.06. Boot Barn Holdings, Inc. has a 12 month low of $86.17 and a 12 month high of $176.64.

Boot Barn (NYSE:BOOT - Get Free Report) last issued its quarterly 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 during 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 company's quarterly revenue was up 16.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.96 earnings per share. On average, sell-side analysts expect that Boot Barn Holdings, Inc. will post 5.82 earnings per share for the current fiscal year.

Boot Barn declared that its Board of Directors has approved a stock repurchase plan on Wednesday, May 14th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to repurchase up to 4.8% of its stock through open market purchases. Stock buyback plans are usually an indication that the company's board of directors believes its shares are 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.