Envestnet Asset Management Inc. Has $8.83 Million Position in Boot Barn Holdings, Inc. (NYSE:BOOT)

Envestnet Asset Management Inc. reduced its stake in shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 4.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 82,186 shares of the company's stock after selling 4,075 shares during the period. Envestnet Asset Management Inc. owned 0.27% of Boot Barn worth $8,829,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Signaturefd LLC raised its holdings in Boot Barn by 201.8% in the fourth quarter. Signaturefd LLC now owns 166 shares of the company's stock valued at $25,000 after buying an additional 111 shares during the period. Opal Wealth Advisors LLC purchased a new position in Boot Barn in the first quarter valued at approximately $29,000. Golden State Wealth Management LLC raised its holdings in Boot Barn by 263.6% in the first quarter. Golden State Wealth Management LLC now owns 280 shares of the company's stock valued at $30,000 after buying an additional 203 shares during the period. Versant Capital Management Inc raised its holdings in Boot Barn by 210.8% in the first quarter. Versant Capital Management Inc now owns 317 shares of the company's stock valued at $34,000 after buying an additional 215 shares during the period. Finally, Huntington National Bank raised its holdings in Boot Barn by 54.5% in the fourth quarter. Huntington National Bank now owns 794 shares of the company's stock valued at $121,000 after buying an additional 280 shares during the period.

Boot Barn Stock Performance

Shares of NYSE:BOOT traded up $6.60 during trading hours on Friday, hitting $174.03. 530,786 shares of the company's stock traded hands, compared to its average volume of 634,713. Boot Barn Holdings, Inc. has a 52 week low of $86.17 and a 52 week high of $178.92. The company's fifty day simple moving average is $163.17 and its two-hundred day simple moving average is $137.13. The company has a market cap of $5.32 billion, a price-to-earnings ratio of 29.70, a price-to-earnings-growth ratio of 1.97 and a beta of 1.69.

Boot Barn (NYSE:BOOT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The company reported $1.22 earnings per share for the quarter, missing the consensus estimate of $1.24 by ($0.02). Boot Barn had a net margin of 9.47% and a return on equity of 16.98%. The business had revenue of $453.75 million for the quarter, compared to the consensus estimate of $458.56 million. During the same quarter last year, the business posted $0.96 EPS. The business's revenue for the quarter was up 16.8% on a year-over-year basis. On average, analysts anticipate that Boot Barn Holdings, Inc. will post 5.82 EPS for the current fiscal year.

Boot Barn announced that its board has initiated a share repurchase program on Wednesday, May 14th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to repurchase up to 4.8% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

BOOT has been the topic of several research reports. UBS Group raised their price target on shares of Boot Barn from $156.00 to $210.00 and gave the company a "buy" rating in a report on Thursday, May 15th. KeyCorp boosted their target price on shares of Boot Barn from $180.00 to $195.00 and gave the stock an "overweight" rating in a research report on Tuesday. Citigroup boosted their target price on shares of Boot Barn from $137.00 to $180.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Stephens began coverage on shares of Boot Barn in a research report on Wednesday, April 9th. They set an "overweight" rating and a $100.00 target price on the stock. Finally, Piper Sandler lifted their price target on shares of Boot Barn from $162.00 to $184.00 and gave the stock an "overweight" rating in a research note on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Boot Barn has a consensus rating of "Moderate Buy" and an average price target of $176.08.

Insider Transactions at Boot Barn

In other Boot Barn news, insider Michael A. Love sold 4,154 shares of the company's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $155.34, for a total transaction of $645,282.36. Following the completion of the sale, the insider directly owned 2,112 shares of the company's stock, valued at approximately $328,078.08. This represents a 66.29% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Laurie Marie Grijalva sold 2,438 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $160.67, for a total transaction of $391,713.46. Following the completion of the sale, the insider directly owned 14,593 shares of the company's stock, valued at $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. 1.00% of the stock is currently owned by corporate insiders.

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.