Canada Pension Plan Investment Board Buys Shares of 35,200 Boot Barn Holdings, Inc. $BOOT

Key Points

• Canada Pension Plan Investment Board purchased 35,200 Boot Barn shares worth approximately $5.8 million, representing a 0.12% stake.
• Boot Barn reported strong quarterly results, with EPS of $2.29 beating estimates of $1.69 and revenue rising 17.7% year over year to $593.5 million.
• Analysts maintain a broadly positive view, with the stock receiving an average “Buy” rating and a consensus price target of $219.55, above its reported $155.41 opening price.

Canada Pension Plan Investment Board purchased a new stake in shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 35,200 shares of the company's stock, valued at approximately $5,782,000. Canada Pension Plan Investment Board owned 0.12% of Boot Barn as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the company. IFP Advisors Inc lifted its position in Boot Barn by 7.2% in the 4th quarter. IFP Advisors Inc now owns 942 shares of the company's stock valued at $166,000 after purchasing an additional 63 shares during the last quarter. Cynosure Group LLC grew its position in Boot Barn by 3.3% in the 4th quarter. Cynosure Group LLC now owns 2,435 shares of the company's stock worth $430,000 after purchasing an additional 78 shares during the last quarter. Farther Finance Advisors LLC grew its position in Boot Barn by 20.7% in the 4th quarter. Farther Finance Advisors LLC now owns 496 shares of the company's stock worth $88,000 after purchasing an additional 85 shares during the last quarter. State of Wisconsin Investment Board increased its stake in shares of Boot Barn by 0.3% in the fourth quarter. State of Wisconsin Investment Board now owns 33,374 shares of the company's stock valued at $5,890,000 after purchasing an additional 89 shares during the period. Finally, MML Investors Services LLC increased its stake in shares of Boot Barn by 2.2% in the second quarter. MML Investors Services LLC now owns 4,262 shares of the company's stock valued at $648,000 after purchasing an additional 93 shares during the period.

Boot Barn Trading Up 0.4%

Shares of NYSE:BOOT opened at $155.41 on Monday. The company has a 50 day moving average of $160.34 and a 200-day moving average of $164.23. The firm has a market cap of $4.71 billion, a P/E ratio of 19.67, a P/E/G ratio of 1.00 and a beta of 1.71. Boot Barn Holdings, Inc. has a twelve month low of $133.18 and a twelve month high of $210.25.

Boot Barn (NYSE:BOOT - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The company reported $2.29 EPS for the quarter, beating analysts' consensus estimates of $1.69 by $0.60. Boot Barn had a net margin of 10.35% and a return on equity of 18.78%. The business had revenue of $593.51 million for the quarter, compared to analyst estimates of $583.15 million. During the same quarter last year, the business earned $1.74 earnings per share. The business's revenue for the quarter 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. Equities research analysts forecast that Boot Barn Holdings, Inc. will post 9.18 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Stephens boosted their price objective on Boot Barn from $196.00 to $207.00 and gave the stock an "overweight" rating in a research report on Monday, August 10th. UBS Group set a $225.00 target price on Boot Barn in a research report on Wednesday, June 17th. Piper Sandler cut their target price on Boot Barn from $230.00 to $226.00 and set an "overweight" rating on the stock in a research note on Friday, May 15th. BTIG Research cut their target price on Boot Barn from $235.00 to $215.00 and set a "buy" rating on the stock in a research note on Thursday, July 30th. Finally, Citigroup reiterated a "buy" rating on shares of Boot Barn in a research report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $219.55.

Boot Barn Company Profile

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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