Hsbc Holdings PLC Buys 9,007 Shares of Boot Barn Holdings, Inc. $BOOT

Key Points

• Hsbc Holdings PLC increased its Boot Barn stake by 62% in the second quarter, purchasing 9,007 additional shares and ending with 23,534 shares valued at approximately $3.86 million.
• Institutional ownership broadly strengthened, with Wellington Management adding 84,250 shares and several other investors initiating new positions.
• Analysts maintain a consensus “Buy” rating with an average price target of $219.55, while Boot Barn recently reported an earnings beat and 17.7% year-over-year revenue growth.

Hsbc Holdings PLC increased its stake in shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 62.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,534 shares of the company's stock after purchasing an additional 9,007 shares during the quarter. Hsbc Holdings PLC owned about 0.08% of Boot Barn worth $3,855,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of BOOT. Wellington Management Group LLP boosted its position in Boot Barn by 12.2% in the 2nd quarter. Wellington Management Group LLP now owns 773,749 shares of the company's stock valued at $127,104,000 after buying an additional 84,250 shares during the last quarter. Empowered Funds LLC bought a new stake in shares of Boot Barn during the second quarter worth $319,000. Caitlin John LLC acquired a new position in shares of Boot Barn during the second quarter valued at $369,000. Equitable Holdings Inc. bought a new position in Boot Barn in the second quarter valued at about $232,000. Finally, Public Employees Retirement System of Ohio bought a new position in Boot Barn in the second quarter valued at about $6,209,000.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Robert W. Baird set a $212.00 price objective on Boot Barn in a report on Thursday, July 30th. TD Cowen lowered their price target on shares of Boot Barn from $225.00 to $190.00 and set a "buy" rating for the company in a research report on Thursday, July 30th. Piper Sandler dropped their price target on shares of Boot Barn from $230.00 to $226.00 and set an "overweight" rating for the company in a research note on Friday, May 15th. Bank of America cut their price objective on shares of Boot Barn from $224.00 to $206.00 and set a "buy" rating on the stock in a report on Friday, May 15th. Finally, BTIG Research reduced their price objective on shares of Boot Barn from $235.00 to $215.00 and set a "buy" rating on the stock in a research note on Thursday, July 30th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $219.55.

Boot Barn Trading Down 1.3%

Shares of BOOT opened at $141.14 on Friday. Boot Barn Holdings, Inc. has a 1 year low of $133.18 and a 1 year high of $210.25. The stock has a market cap of $4.27 billion, a P/E ratio of 17.87, a price-to-earnings-growth ratio of 0.92 and a beta of 1.70. The stock's 50-day moving average price is $156.56 and its two-hundred day moving average price is $161.44.

Boot Barn (NYSE:BOOT - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The company reported $2.29 EPS for the quarter, beating analysts' consensus estimates of $1.69 by $0.60. The company had revenue of $593.51 million during the quarter, compared to analysts' expectations of $583.15 million. Boot Barn had a return on equity of 18.78% and a net margin of 10.35%.Boot Barn's revenue was up 17.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.74 EPS. 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. As a group, equities analysts forecast that Boot Barn Holdings, Inc. will post 9.18 EPS for the current year.

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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