Diversify Wealth Management LLC Buys 6,470 Shares of Boot Barn Holdings, Inc. $BOOT

Key Points

• Diversify Wealth Management LLC increased its stake in Boot Barn by 120.7% in the first quarter, buying 6,470 additional shares to bring its total holdings to 11,832 shares worth about $1.73 million.
• Boot Barn also saw several other institutional investors boost or start positions, including Fifth Third Bancorp, Hsbc Holdings PLC, and Burney Co., signaling broader institutional interest in the stock.
• The company reported better-than-expected earnings and revenue for its latest quarter, and analysts remain mostly positive with a consensus rating of “Moderate Buy” and an average price target of $226.92.

Diversify Wealth Management LLC grew its stake in shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 120.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,832 shares of the company's stock after buying an additional 6,470 shares during the period. Diversify Wealth Management LLC's holdings in Boot Barn were worth $1,732,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Carnegie Investment Counsel bought a new stake in shares of Boot Barn in the 1st quarter valued at about $748,000. Fifth Third Bancorp raised its position in shares of Boot Barn by 15,768.5% in the 1st quarter. Fifth Third Bancorp now owns 34,276 shares of the company's stock valued at $5,017,000 after acquiring an additional 34,060 shares during the period. Simplicity Wealth LLC boosted its stake in Boot Barn by 73.5% during the 1st quarter. Simplicity Wealth LLC now owns 2,255 shares of the company's stock worth $330,000 after acquiring an additional 955 shares during the last quarter. Hsbc Holdings PLC boosted its stake in Boot Barn by 335.5% during the 1st quarter. Hsbc Holdings PLC now owns 14,527 shares of the company's stock worth $2,132,000 after acquiring an additional 11,191 shares during the last quarter. Finally, Burney Co. grew its holdings in Boot Barn by 53.5% during the first quarter. Burney Co. now owns 32,889 shares of the company's stock valued at $4,814,000 after purchasing an additional 11,459 shares during the period.

Boot Barn Price Performance

NYSE:BOOT opened at $156.24 on Wednesday. The business's 50-day simple moving average is $162.52 and its 200-day simple moving average is $171.09. Boot Barn Holdings, Inc. has a fifty-two week low of $133.18 and a fifty-two week high of $210.25. The stock has a market capitalization of $4.74 billion, a PE ratio of 21.26, a price-to-earnings-growth ratio of 1.15 and a beta of 1.69.

Boot Barn (NYSE:BOOT - Get Free Report) last posted its earnings results on Thursday, May 14th. The company reported $1.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.43 by $0.02. The business had revenue of $538.75 million during the quarter, compared to analysts' expectations of $531.43 million. Boot Barn had a return on equity of 18.15% and a net margin of 10.02%.Boot Barn's revenue for the quarter was up 18.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.22 EPS. Boot Barn has set its Q1 2027 guidance at 1.620-1.710 EPS and its FY 2027 guidance at 8.210-8.640 EPS. On average, research analysts expect that Boot Barn Holdings, Inc. will post 8.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on BOOT shares. Jefferies Financial Group raised shares of Boot Barn from a "hold" rating to a "buy" rating and set a $195.00 target price for the company in a research note on Monday, April 6th. Bank of America reduced their price target on shares of Boot Barn from $224.00 to $206.00 and set a "buy" rating on the stock in a research report on Friday, May 15th. Weiss Ratings lowered shares of Boot Barn from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, May 18th. Robert W. Baird decreased their price target on shares of Boot Barn from $244.00 to $225.00 and set an "outperform" rating for the company in a report on Friday, May 15th. Finally, Citigroup restated a "buy" rating on shares of Boot Barn in a research report on Monday, May 4th. Twelve investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $226.92.

Boot Barn 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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