Legal & General Group Plc Makes New Investment in Boot Barn Holdings, Inc. $BOOT

Key Points

• Legal & General Group Plc acquired 71,210 Boot Barn shares worth approximately $11.7 million, representing about 0.24% of the company.
• Boot Barn reported quarterly EPS of $2.29, beating estimates of $1.69, while revenue rose 17.7% year over year to $593.5 million.
• Analysts maintain a consensus “Buy” rating with a target price of $219.55, compared with the stock’s reported price of $150.46.

Legal & General Group Plc acquired a new stake in shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 71,210 shares of the company's stock, valued at approximately $11,698,000. Legal & General Group Plc owned approximately 0.24% of Boot Barn as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Arrowstreet Capital Limited Partnership raised its position in shares of Boot Barn by 361.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 48,448 shares of the company's stock worth $7,091,000 after purchasing an additional 37,951 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Boot Barn by 11.4% in the 4th quarter. Principal Financial Group Inc. now owns 393,098 shares of the company's stock worth $69,370,000 after buying an additional 40,282 shares during the last quarter. UBS Group AG boosted its holdings in Boot Barn by 16.4% in the 4th quarter. UBS Group AG now owns 172,380 shares of the company's stock worth $30,420,000 after buying an additional 24,229 shares during the last quarter. Fifth Third Bancorp increased its stake in Boot Barn by 15,768.5% during the 1st quarter. Fifth Third Bancorp now owns 34,276 shares of the company's stock worth $5,017,000 after buying an additional 34,060 shares in the last quarter. Finally, Hsbc Holdings PLC raised its holdings in shares of Boot Barn by 335.5% during the first quarter. Hsbc Holdings PLC now owns 14,527 shares of the company's stock valued at $2,132,000 after acquiring an additional 11,191 shares during the last quarter.

Boot Barn Stock Performance

BOOT opened at $150.46 on Tuesday. Boot Barn Holdings, Inc. has a one year low of $133.18 and a one year high of $210.25. The stock has a market capitalization of $4.56 billion, a PE ratio of 19.05, a P/E/G ratio of 1.00 and a beta of 1.71. The business's 50 day moving average price is $159.80 and its 200 day moving average price is $163.92.

Boot Barn (NYSE:BOOT - Get Free Report) last posted its earnings results on Wednesday, July 29th. The company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate 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%.During the same quarter last year, the firm earned $1.74 earnings per share. The firm's quarterly revenue was up 17.7% compared to the same quarter last year. 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 research analysts forecast that Boot Barn Holdings, Inc. will post 9.18 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Zacks Research raised Boot Barn from a "hold" rating to a "strong-buy" rating in a research note on Monday, August 3rd. Citigroup reissued a "buy" rating on shares of Boot Barn in a research note on Monday, May 4th. Piper Sandler decreased their price objective on Boot Barn from $230.00 to $226.00 and set an "overweight" rating on the stock in a report on Friday, May 15th. Weiss Ratings cut shares of Boot Barn from a "hold (c+)" rating to a "hold (c)" rating in a research note on Tuesday, August 18th. Finally, TD Cowen dropped their target price on shares of Boot Barn from $225.00 to $190.00 and set a "buy" rating for the company in a report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and a consensus target price of $219.55.

About Boot Barn

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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