California State Teachers Retirement System Acquires 7,317 Shares of Boot Barn Holdings, Inc. $BOOT

Key Points

• California State Teachers Retirement System increased its Boot Barn stake by 25.2%, purchasing 7,317 shares to hold 36,383 shares valued at approximately $5.3 million.
• Boot Barn reported quarterly earnings of $2.29 per share, surpassing the $1.69 consensus estimate, while revenue rose 17.7% year over year to $593.5 million.
• Analysts maintain a generally positive outlook, with the stock carrying an average “Buy” rating and a consensus price target of $222.27, despite several recent target-price reductions.

California State Teachers Retirement System lifted its stake in shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 25.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 36,383 shares of the company's stock after purchasing an additional 7,317 shares during the quarter. California State Teachers Retirement System owned about 0.12% of Boot Barn worth $5,325,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its position in Boot Barn by 83.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,103,441 shares of the company's stock valued at $194,725,000 after buying an additional 502,275 shares during the last quarter. Balyasny Asset Management L.P. boosted its holdings in Boot Barn by 2,547.7% during the 3rd quarter. Balyasny Asset Management L.P. now owns 471,192 shares of the company's stock worth $78,086,000 after acquiring an additional 453,396 shares during the last quarter. Invesco Ltd. boosted its holdings in Boot Barn by 46.3% during the 3rd quarter. Invesco Ltd. now owns 917,406 shares of the company's stock worth $152,033,000 after acquiring an additional 290,493 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Boot Barn by 38.5% in the 4th quarter. Goldman Sachs Group Inc. now owns 723,309 shares of the company's stock worth $127,642,000 after acquiring an additional 200,971 shares in the last quarter. Finally, Lord Abbett & CO. LLC bought a new stake in shares of Boot Barn in the 4th quarter worth $26,471,000.

Boot Barn Trading Up 1.7%

Boot Barn stock opened at $163.86 on Friday. The firm's 50 day simple moving average is $162.61 and its 200 day simple moving average is $167.01. The firm has a market capitalization of $4.96 billion, a PE ratio of 20.74, a price-to-earnings-growth ratio of 1.04 and a beta of 1.71. Boot Barn Holdings, Inc. has a 1-year low of $133.18 and a 1-year high of $210.25.

Boot Barn (NYSE:BOOT - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.60. Boot Barn had a net margin of 10.35% and a return on equity of 18.78%. The firm had revenue of $593.51 million for the quarter, compared to analysts' expectations of $583.15 million. During the same quarter in the prior year, the firm posted $1.74 earnings per share. The business's quarterly revenue was up 17.7% on a year-over-year basis. Boot Barn has set its FY 2027 guidance at 8.800-9.230 EPS and its Q2 2027 guidance at 1.550-1.650 EPS. Research analysts forecast that Boot Barn Holdings, Inc. will post 9.18 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts recently weighed in on BOOT shares. Zacks Research upgraded shares of Boot Barn from a "hold" rating to a "strong-buy" rating in a report on Monday. Piper Sandler decreased their price objective on shares of Boot Barn from $230.00 to $226.00 and set an "overweight" rating for the company in a research note on Friday, May 15th. BTIG Research dropped their target price on shares of Boot Barn from $235.00 to $215.00 and set a "buy" rating on the stock in a research report on Thursday, July 30th. UBS Group set a $225.00 target price on Boot Barn in a research note on Wednesday, June 17th. Finally, Bank of America reduced their target price on Boot Barn from $224.00 to $206.00 and set a "buy" rating for the company in a report on Friday, May 15th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average price target of $222.27.

About Boot Barn

Boot Barn, Inc is a leading specialty retailer focused on western and work-related footwear, apparel and accessories. The company operates full-price and outlet retail stores under the Boot Barn and BootBarn.com brands, offering a wide assortment of cowboy boots, work boots, casual and fashion footwear, western and work apparel, hats, belts and related accessories. In addition to its brick-and-mortar network, Boot Barn maintains an e-commerce platform to serve customers seeking ranch-and-rodeo style clothing and rugged workwear from coast to coast.

Founded in 1978 in Southern California, Boot Barn began as a single store catering to ranchers, farmworkers and western enthusiasts.

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