Illinois Municipal Retirement Fund lifted its stake in Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 20.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,333 shares of the company's stock after acquiring an additional 3,072 shares during the quarter. Illinois Municipal Retirement Fund owned 0.06% of Boot Barn worth $1,970,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other large investors have also recently made changes to their positions in BOOT. Golden State Wealth Management LLC grew its holdings in shares of Boot Barn by 263.6% in the first quarter. Golden State Wealth Management LLC now owns 280 shares of the company's stock worth $30,000 after acquiring an additional 203 shares during the period. Oppenheimer Asset Management Inc. boosted its stake in shares of Boot Barn by 29.3% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 14,731 shares of the company's stock worth $1,583,000 after acquiring an additional 3,341 shares during the last quarter. Opal Wealth Advisors LLC bought a new stake in shares of Boot Barn during the 1st quarter valued at $29,000. Azzad Asset Management Inc. ADV grew its position in shares of Boot Barn by 39.6% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 21,668 shares of the company's stock valued at $2,328,000 after acquiring an additional 6,148 shares during the period. Finally, Elevation Point Wealth Partners LLC increased its stake in shares of Boot Barn by 35.3% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 3,163 shares of the company's stock worth $340,000 after purchasing an additional 825 shares in the last quarter.
Insider Activity at Boot Barn
In related news, insider Laurie Marie Grijalva sold 2,438 shares of Boot Barn stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $160.67, for a total transaction of $391,713.46. Following the transaction, the insider now directly owns 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Michael A. Love sold 4,154 shares of Boot Barn stock in a transaction that occurred 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 owns 2,112 shares of the company's stock, valued at $328,078.08. This trade represents a 66.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on the company. Piper Sandler upped their price objective on Boot Barn from $162.00 to $184.00 and gave the stock an "overweight" rating in a research note on Thursday, May 15th. JPMorgan Chase & Co. raised their target price on shares of Boot Barn from $196.00 to $207.00 and gave the company an "overweight" rating in a research note on Tuesday, May 27th. Citigroup boosted their price target on shares of Boot Barn from $137.00 to $180.00 and gave the stock a "buy" rating in a research note on Friday, May 16th. Craig Hallum upgraded Boot Barn from a "hold" rating to a "buy" rating and set a $130.00 price objective for the company in a research report on Wednesday, April 23rd. Finally, UBS Group increased their target price on Boot Barn from $156.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $173.67.
Read Our Latest Stock Report on Boot Barn
Boot Barn Price Performance
Shares of NYSE BOOT opened at $154.81 on Monday. Boot Barn Holdings, Inc. has a 1 year low of $86.17 and a 1 year high of $176.64. The firm has a 50-day simple moving average of $142.39 and a two-hundred day simple moving average of $134.71. The company has a market cap of $4.74 billion, a P/E ratio of 26.42, a PEG ratio of 1.82 and a beta of 1.73.
Boot Barn (NYSE:BOOT - Get Free Report) last issued its quarterly earnings results 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). The business had revenue of $453.75 million during the quarter, compared to analysts' expectations of $458.56 million. Boot Barn had a return on equity of 16.98% and a net margin of 9.47%. The company's quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.96 earnings per share. As a group, equities research analysts expect that Boot Barn Holdings, Inc. will post 5.82 EPS for the current year.
Boot Barn declared that its board has initiated a stock repurchase plan on Wednesday, May 14th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to repurchase up to 4.8% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company's board of directors believes its stock is undervalued.
Boot Barn Profile
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding BOOT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Boot Barn, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Boot Barn wasn't on the list.
While Boot Barn currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
