Invesco Ltd. Has $97.06 Million Holdings in Boot Barn Holdings, Inc. (NYSE:BOOT)

Key Points

• Invesco Ltd. increased its holdings in Boot Barn Holdings, Inc. by 24.8% to a total of $97.06 million, owning approximately 2.95% of the company after purchasing additional shares in the first quarter.
• Several institutional investors, including Oppenheimer Asset Management and Artemis Investment Management, have also significantly increased their positions in Boot Barn, reflecting growing confidence in the company.
• Boot Barn reported better-than-expected earnings for the last quarter, with $1.74 earnings per share, surpassing the consensus estimate and reflecting a 19.1% year-over-year revenue increase.

Invesco Ltd. boosted its holdings in shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 24.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 903,453 shares of the company's stock after buying an additional 179,710 shares during the quarter. Invesco Ltd. owned approximately 2.95% of Boot Barn worth $97,058,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Oppenheimer Asset Management Inc. increased its position in Boot Barn by 29.3% during the first quarter. Oppenheimer Asset Management Inc. now owns 14,731 shares of the company's stock worth $1,583,000 after buying an additional 3,341 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Boot Barn in the first quarter valued at approximately $916,000. KBC Group NV grew its position in shares of Boot Barn by 21.8% in the first quarter. KBC Group NV now owns 1,489 shares of the company's stock valued at $160,000 after purchasing an additional 267 shares during the last quarter. GAMMA Investing LLC grew its position in shares of Boot Barn by 8,368.8% in the first quarter. GAMMA Investing LLC now owns 42,005 shares of the company's stock valued at $4,513,000 after purchasing an additional 41,509 shares during the last quarter. Finally, Artemis Investment Management LLP grew its position in shares of Boot Barn by 206.5% in the first quarter. Artemis Investment Management LLP now owns 734,023 shares of the company's stock valued at $78,856,000 after purchasing an additional 494,523 shares during the last quarter.

Insider Buying and Selling at Boot Barn

In other Boot Barn news, insider Laurie Marie Grijalva sold 2,438 shares of the company's stock in a transaction 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 in the company, valued at $2,344,657.31. This represents a 14.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael A. Love sold 4,154 shares of the company's stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $155.34, for a total value of $645,282.36. Following the sale, the insider owned 2,112 shares of the company's stock, valued at $328,078.08. The trade was a 66.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.66% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. BTIG Research upped their target price on Boot Barn from $200.00 to $218.00 and gave the company a "buy" rating in a research report on Friday, August 1st. Robert W. Baird upped their target price on Boot Barn from $140.00 to $180.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. Jefferies Financial Group downgraded Boot Barn from a "buy" rating to a "hold" rating and decreased their target price for the company from $187.00 to $175.00 in a research report on Wednesday, July 23rd. Cowen reaffirmed a "buy" rating on shares of Boot Barn in a research report on Monday, July 28th. Finally, KeyCorp upped their target price on Boot Barn from $195.00 to $210.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $182.54.

Boot Barn Price Performance

Shares of NYSE:BOOT opened at $161.96 on Friday. The business's 50 day simple moving average is $165.86 and its 200 day simple moving average is $138.06. Boot Barn Holdings, Inc. has a 1 year low of $86.17 and a 1 year high of $183.60. The company has a market capitalization of $4.95 billion, a P/E ratio of 25.55, a P/E/G ratio of 1.65 and a beta of 1.76.

Boot Barn (NYSE:BOOT - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $1.74 earnings per share for the quarter, topping the consensus estimate of $1.55 by $0.19. Boot Barn had a return on equity of 17.73% and a net margin of 9.81%. The firm had revenue of $504.07 million during the quarter, compared to analysts' expectations of $489.49 million. During the same period in the prior year, the company earned $1.26 earnings per share. The company's quarterly revenue was up 19.1% on a year-over-year basis. On average, sell-side 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 buyback plan on Wednesday, May 14th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to purchase up to 4.8% of its stock through open market purchases. Stock repurchase plans are often a sign that the company's board believes its shares are undervalued.

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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