Charles Schwab Investment Management Inc. Lowers Stock Holdings in Boot Barn Holdings, Inc. $BOOT

Key Points

• Charles Schwab Investment Management Inc. has reduced its holdings in Boot Barn Holdings, Inc. by 3.0%, owning 347,790 shares valued at approximately $37 million after the sale.
• Analysts have mixed opinions on Boot Barn, with ratings ranging from sell to strong buy, and an average price target set at $182.54.
• Boot Barn has announced a $200 million share buyback program, which indicates the board's belief that the company's shares are undervalued.

Charles Schwab Investment Management Inc. reduced its holdings in Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 3.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 347,790 shares of the company's stock after selling 10,789 shares during the quarter. Charles Schwab Investment Management Inc. owned about 1.14% of Boot Barn worth $37,363,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Intrust Bank NA lifted its holdings in shares of Boot Barn by 3.4% in the 1st quarter. Intrust Bank NA now owns 4,702 shares of the company's stock valued at $505,000 after buying an additional 153 shares during the period. Blair William & Co. IL lifted its holdings in shares of Boot Barn by 52.4% in the 1st quarter. Blair William & Co. IL now owns 6,079 shares of the company's stock valued at $653,000 after buying an additional 2,090 shares during the period. Argent Trust Co increased its stake in Boot Barn by 12.7% in the 1st quarter. Argent Trust Co now owns 2,355 shares of the company's stock valued at $253,000 after purchasing an additional 266 shares in the last quarter. Blueshift Asset Management LLC increased its stake in Boot Barn by 3.9% in the 1st quarter. Blueshift Asset Management LLC now owns 16,039 shares of the company's stock valued at $1,723,000 after purchasing an additional 606 shares in the last quarter. Finally, Jefferies Financial Group Inc. purchased a new position in Boot Barn in the 1st quarter valued at approximately $1,271,000.

Boot Barn Price Performance

Boot Barn stock traded up $4.1520 during mid-day trading on Friday, hitting $173.5020. 409,841 shares of the company were exchanged, compared to its average volume of 699,525. The business's 50 day simple moving average is $166.49 and its two-hundred day simple moving average is $138.33. The company has a market capitalization of $5.30 billion, a P/E ratio of 27.37, a PEG ratio of 1.76 and a beta of 1.76. Boot Barn Holdings, Inc. has a 12-month low of $86.17 and a 12-month high of $183.60.

Boot Barn (NYSE:BOOT - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $1.74 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.19. The company had revenue of $504.07 million during the quarter, compared to the consensus estimate of $489.49 million. Boot Barn had a return on equity of 17.73% and a net margin of 9.81%.Boot Barn's revenue was up 19.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.26 earnings per share. Boot Barn has set its Q2 2026 guidance at 1.190-1.270 EPS. FY 2026 guidance at 5.800-6.700 EPS. Equities research analysts predict that Boot Barn Holdings, Inc. will post 5.82 earnings per share for the current year.

Boot Barn declared that its board has authorized a stock repurchase program on Wednesday, May 14th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to reacquire up to 4.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's board believes its stock is undervalued.

Analyst Ratings Changes

Several equities analysts recently weighed in on BOOT shares. Piper Sandler raised their price objective on Boot Barn from $184.00 to $185.00 and gave the company an "overweight" rating in a research note on Monday, July 28th. KeyCorp raised their price objective on Boot Barn from $195.00 to $210.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Citigroup raised their price objective on Boot Barn from $137.00 to $180.00 and gave the company a "buy" rating in a research note on Friday, May 16th. Jefferies Financial Group downgraded Boot Barn from a "buy" rating to a "hold" rating and dropped their price objective for the company from $187.00 to $175.00 in a research note on Wednesday, July 23rd. Finally, BTIG Research raised their price objective on Boot Barn from $200.00 to $218.00 and gave the company a "buy" rating in a research note on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $182.54.

Boot Barn 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.