ThornTree Capital Partners LP Has $7.59 Million Stock Holdings in Boot Barn Holdings, Inc. (NYSE:BOOT)

ThornTree Capital Partners LP decreased its holdings in shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 47.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 50,000 shares of the company's stock after selling 45,919 shares during the period. Boot Barn comprises about 1.0% of ThornTree Capital Partners LP's portfolio, making the stock its 15th largest holding. ThornTree Capital Partners LP owned approximately 0.16% of Boot Barn worth $7,591,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of BOOT. Blue Trust Inc. boosted its holdings in shares of Boot Barn by 1,430.0% in the 4th quarter. Blue Trust Inc. now owns 153 shares of the company's stock valued at $26,000 after buying an additional 143 shares during the period. Signaturefd LLC boosted its stake in Boot Barn by 201.8% in the fourth quarter. Signaturefd LLC now owns 166 shares of the company's stock valued at $25,000 after acquiring an additional 111 shares during the period. Assetmark Inc. grew its holdings in shares of Boot Barn by 45.2% during the fourth quarter. Assetmark Inc. now owns 363 shares of the company's stock valued at $55,000 after purchasing an additional 113 shares during the last quarter. R Squared Ltd bought a new position in shares of Boot Barn during the fourth quarter valued at approximately $102,000. Finally, Smartleaf Asset Management LLC raised its position in shares of Boot Barn by 212.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 749 shares of the company's stock worth $115,000 after purchasing an additional 509 shares during the period.

Boot Barn Stock Performance

Shares of NYSE:BOOT traded down $2.43 during trading on Friday, reaching $157.15. The company had a trading volume of 336,201 shares, compared to its average volume of 826,504. The firm's fifty day moving average is $111.67 and its 200 day moving average is $130.95. The firm has a market capitalization of $4.81 billion, a PE ratio of 28.00, a price-to-earnings-growth ratio of 1.17 and a beta of 1.59. Boot Barn Holdings, Inc. has a twelve month low of $86.17 and a twelve month high of $176.64.

Boot Barn (NYSE:BOOT - Get Free Report) last released its earnings results on Wednesday, May 14th. The company reported $1.22 earnings per share for the quarter, missing analysts' consensus estimates of $1.24 by ($0.02). The firm had revenue of $453.75 million during the quarter, compared to analyst estimates of $458.56 million. Boot Barn had a return on equity of 17.11% and a net margin of 9.36%. The business's revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter last year, the company earned $0.96 earnings per share. Equities analysts predict that Boot Barn Holdings, Inc. will post 5.82 earnings per share for the current fiscal year.

Boot Barn announced that its Board of Directors has authorized a share buyback program on Wednesday, May 14th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to purchase up to 4.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's board believes its stock is undervalued.

Analyst Ratings Changes

BOOT has been the subject of a number of recent research reports. UBS Group upped their price objective on Boot Barn from $156.00 to $210.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Stephens began coverage on shares of Boot Barn in a report on Wednesday, April 9th. They set an "overweight" rating and a $100.00 price target for the company. Bank of America upped their price target on shares of Boot Barn from $160.00 to $173.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. JPMorgan Chase & Co. reduced their target price on shares of Boot Barn from $209.00 to $196.00 and set an "overweight" rating for the company in a research note on Thursday, May 15th. Finally, KeyCorp decreased their target price on shares of Boot Barn from $190.00 to $165.00 and set an "overweight" rating for the company in a research report on Tuesday, April 29th. One analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $170.62.

Insider Activity

In other news, insider Laurie Marie Grijalva sold 2,438 shares of Boot Barn stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $160.67, for a total value of $391,713.46. Following the transaction, the insider now owns 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. 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.