Jennison Associates LLC Sells 47,503 Shares of Boot Barn Holdings, Inc. $BOOT

Key Points

• Jennison Associates LLC reduced its Boot Barn stake by 16% in the first quarter, selling 47,503 shares and leaving it with 248,590 shares valued at about $36.4 million.
• Boot Barn’s latest earnings beat expectations, with quarterly EPS of $1.45 versus $1.43 expected and revenue of $538.75 million, up 18.7% year over year.
• Analysts remain generally positive on BOOT, with 12 Buy ratings and 2 Hold ratings, giving the stock a consensus “Moderate Buy” rating and an average price target of $226.92.

Jennison Associates LLC trimmed its holdings in Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 16.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 248,590 shares of the company's stock after selling 47,503 shares during the quarter. Jennison Associates LLC owned approximately 0.82% of Boot Barn worth $36,384,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Los Angeles Capital Management LLC purchased a new stake in Boot Barn in the fourth quarter worth $29,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Boot Barn in the third quarter worth about $49,000. Danske Bank A S grew its holdings in shares of Boot Barn by 200.0% in the fourth quarter. Danske Bank A S now owns 300 shares of the company's stock worth $53,000 after purchasing an additional 200 shares during the last quarter. Hantz Financial Services Inc. lifted its holdings in Boot Barn by 284.1% during the 4th quarter. Hantz Financial Services Inc. now owns 338 shares of the company's stock valued at $60,000 after buying an additional 250 shares in the last quarter. Finally, Johnson Financial Group Inc. purchased a new stake in Boot Barn in the 3rd quarter valued at about $60,000.

Boot Barn Stock Performance

Shares of BOOT opened at $149.41 on Tuesday. The company has a 50 day moving average price of $161.73 and a 200-day moving average price of $170.24. Boot Barn Holdings, Inc. has a fifty-two week low of $133.18 and a fifty-two week high of $210.25. The stock has a market capitalization of $4.53 billion, a PE ratio of 20.33, a PEG ratio of 1.07 and a beta of 1.69.

Boot Barn (NYSE:BOOT - Get Free Report) last issued its quarterly earnings data on Thursday, May 14th. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.02. The company had revenue of $538.75 million for the quarter, compared to analyst estimates of $531.43 million. Boot Barn had a net margin of 10.02% and a return on equity of 18.15%. Boot Barn's revenue was up 18.7% compared to the same quarter last year. During the same period last year, the company posted $1.22 earnings per share. Boot Barn has set its Q1 2027 guidance at 1.620-1.710 EPS and its FY 2027 guidance at 8.210-8.640 EPS. Equities research analysts forecast that Boot Barn Holdings, Inc. will post 8.56 EPS for the current year.

Analyst Ratings Changes

BOOT has been the topic of a number of research analyst reports. TD Cowen restated a "buy" rating on shares of Boot Barn in a research note on Wednesday, June 17th. Piper Sandler dropped their price objective on Boot Barn from $230.00 to $226.00 and set an "overweight" rating on the stock in a research note on Friday, May 15th. UBS Group set a $225.00 price objective on Boot Barn in a report on Wednesday, June 17th. Robert W. Baird lowered their target price on Boot Barn from $244.00 to $225.00 and set an "outperform" rating for the company in a report on Friday, May 15th. Finally, Bank of America lowered their target price on Boot Barn from $224.00 to $206.00 and set a "buy" rating for the company in a report on Friday, May 15th. Twelve research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Boot Barn has a consensus rating of "Moderate Buy" and a consensus price target of $226.92.

Boot Barn Company 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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