Congress Asset Management Co. Has $49.17 Million Stock Position in Boot Barn Holdings, Inc. (NYSE:BOOT)

Congress Asset Management Co. raised its holdings in Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 5.5% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 457,675 shares of the company's stock after buying an additional 23,880 shares during the quarter. Congress Asset Management Co. owned 1.50% of Boot Barn worth $49,168,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its position 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 worth $26,000 after acquiring an additional 143 shares during the period. Stephens Investment Management Group LLC acquired a new stake in shares of Boot Barn during the 4th quarter worth approximately $46,699,000. Shaker Investments LLC OH grew its holdings in shares of Boot Barn by 139.6% during the 4th quarter. Shaker Investments LLC OH now owns 18,511 shares of the company's stock worth $2,810,000 after purchasing an additional 10,786 shares in the last quarter. Louisiana State Employees Retirement System grew its holdings in shares of Boot Barn by 0.7% during the 4th quarter. Louisiana State Employees Retirement System now owns 14,800 shares of the company's stock worth $2,247,000 after purchasing an additional 100 shares in the last quarter. Finally, Legato Capital Management LLC grew its holdings in shares of Boot Barn by 63.9% during the 4th quarter. Legato Capital Management LLC now owns 18,030 shares of the company's stock worth $2,737,000 after purchasing an additional 7,029 shares in the last quarter.

Boot Barn Price Performance

BOOT stock opened at $165.18 on Friday. The business has a fifty day moving average price of $123.51 and a 200 day moving average price of $133.06. Boot Barn Holdings, Inc. has a fifty-two week low of $86.17 and a fifty-two week high of $176.64. The stock has a market capitalization of $5.05 billion, a price-to-earnings ratio of 29.50, a P/E/G ratio of 1.17 and a beta of 1.59.

Boot Barn (NYSE:BOOT - Get Free Report) last released its earnings results on Wednesday, May 14th. The company reported $1.22 EPS for the quarter, missing the consensus estimate 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 net margin of 9.36% and a return on equity of 17.11%. The firm's quarterly revenue was up 16.8% on a year-over-year basis. During the same period last year, the business posted $0.96 earnings per share. On average, equities analysts expect 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 approved a share repurchase program on Wednesday, May 14th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to repurchase up to 4.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Insider Activity

In related news, insider Michael A. Love sold 4,154 shares of Boot Barn stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $155.34, for a total transaction of $645,282.36. Following the completion of the sale, the insider now directly owns 2,112 shares of the company's stock, 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 Boot Barn stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $160.67, for a total value of $391,713.46. Following the sale, the insider now directly owns 14,593 shares of the company's stock, valued at approximately $2,344,657.31. This trade represents a 14.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on BOOT shares. Robert W. Baird lifted their price objective on Boot Barn from $140.00 to $180.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. Stephens started coverage on Boot Barn in a report on Wednesday, April 9th. They set an "overweight" rating and a $100.00 price objective on the stock. Wall Street Zen lowered Boot Barn from a "hold" rating to a "sell" rating in a report on Monday, February 17th. Craig Hallum raised Boot Barn from a "hold" rating to a "buy" rating and set a $130.00 price objective on the stock in a report on Wednesday, April 23rd. Finally, KeyCorp cut their target price on 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 given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $173.67.

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.

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