Hsbc Holdings PLC Purchases New Holdings in Boot Barn Holdings, Inc. $BOOT

Key Points

• HSBC Holdings PLC has initiated a new position in Boot Barn Holdings, acquiring 5,982 shares valued at approximately $632,000.
• Boot Barn reported quarterly earnings of $1.74 EPS, surpassing analysts' expectations of $1.55 and showing a 19.1% increase in revenue year-over-year.
• The company's Board of Directors approved a $200 million share repurchase program, indicating a belief that Boot Barn's shares may be undervalued in the market.

Hsbc Holdings PLC acquired a new position in shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 5,982 shares of the company's stock, valued at approximately $632,000.

A number of other hedge funds also recently modified their holdings of the business. Fuller & Thaler Asset Management Inc. boosted its position in shares of Boot Barn by 24.9% in the first quarter. Fuller & Thaler Asset Management Inc. now owns 347,340 shares of the company's stock worth $37,315,000 after buying an additional 69,279 shares during the period. Quantbot Technologies LP acquired a new stake in Boot Barn during the 1st quarter worth about $238,000. Versor Investments LP purchased a new position in Boot Barn during the 1st quarter valued at about $344,000. Raymond James Financial Inc. increased its holdings in shares of Boot Barn by 18.2% in the 1st quarter. Raymond James Financial Inc. now owns 330,449 shares of the company's stock valued at $35,500,000 after purchasing an additional 50,907 shares during the period. Finally, American Century Companies Inc. lifted its position in shares of Boot Barn by 15.3% in the first quarter. American Century Companies Inc. now owns 569,390 shares of the company's stock worth $61,170,000 after purchasing an additional 75,413 shares in the last quarter.

Boot Barn Trading Up 0.9%

NYSE:BOOT opened at $178.03 on Monday. The firm has a market capitalization of $5.44 billion, a PE ratio of 28.08, a PEG ratio of 1.81 and a beta of 1.62. Boot Barn Holdings, Inc. has a 1 year low of $86.17 and a 1 year high of $183.60. The firm's fifty day simple moving average is $167.70 and its 200 day simple moving average is $139.74.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.55 by $0.19. The company had revenue of $504.07 million during the quarter, compared to analysts' expectations of $489.49 million. Boot Barn had a net margin of 9.81% and a return on equity of 17.73%. The business's quarterly revenue was up 19.1% compared to the same quarter last year. During the same period in the prior year, the company earned $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. As a group, analysts anticipate that Boot Barn Holdings, Inc. will post 5.82 EPS for the current fiscal year.

Boot Barn declared that its Board of Directors has approved a share repurchase program on Wednesday, May 14th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to repurchase up to 4.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Boot Barn from $207.00 to $247.00 and gave the company an "overweight" rating in a research report on Monday, July 28th. BTIG Research lifted their price objective on Boot Barn from $200.00 to $218.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Bank of America boosted their target price on Boot Barn from $160.00 to $173.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Robert W. Baird lifted their price target on Boot Barn from $140.00 to $180.00 and gave the company an "outperform" rating in a report on Thursday, May 15th. Finally, KeyCorp increased their price objective on Boot Barn from $195.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Boot Barn currently has an average rating of "Moderate Buy" and an average target price 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.

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