Moody Aldrich Partners LLC Lowers Position in Boot Barn Holdings, Inc. (NYSE:BOOT)

Moody Aldrich Partners LLC cut its stake in Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 22.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,516 shares of the company's stock after selling 10,895 shares during the period. Moody Aldrich Partners LLC owned 0.13% of Boot Barn worth $4,138,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Bank of Montreal Can lifted its stake in Boot Barn by 1.4% in the fourth quarter. Bank of Montreal Can now owns 5,936 shares of the company's stock valued at $901,000 after buying an additional 82 shares during the period. Cetera Investment Advisers lifted its stake in Boot Barn by 1.0% in the fourth quarter. Cetera Investment Advisers now owns 8,179 shares of the company's stock valued at $1,242,000 after buying an additional 83 shares during the period. Coldstream Capital Management Inc. lifted its stake in Boot Barn by 7.6% in the fourth quarter. Coldstream Capital Management Inc. now owns 1,367 shares of the company's stock valued at $208,000 after buying an additional 97 shares during the period. Summit Investment Advisors Inc. lifted its stake in Boot Barn by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 3,096 shares of the company's stock valued at $470,000 after buying an additional 98 shares during the period. Finally, Arizona State Retirement System lifted its stake in Boot Barn by 1.1% in the fourth quarter. Arizona State Retirement System now owns 8,853 shares of the company's stock valued at $1,344,000 after buying an additional 100 shares during the period.

Insider Activity

In other Boot Barn news, insider Laurie Marie Grijalva sold 2,438 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $160.67, for a total value of $391,713.46. Following the completion of the transaction, the insider owned 14,593 shares in the company, valued at $2,344,657.31. This trade represents a 14.32% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael A. Love sold 4,154 shares of the firm's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $155.34, for a total value of $645,282.36. Following the completion of the sale, the insider directly owned 2,112 shares in the company, valued at approximately $328,078.08. The trade was a 66.29% decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on BOOT. UBS Group upped their target price on Boot Barn from $156.00 to $210.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Piper Sandler upped their target price on Boot Barn from $162.00 to $184.00 and gave the stock an "overweight" rating in a research report on Thursday, May 15th. KeyCorp lowered their target price on Boot Barn from $190.00 to $165.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 29th. Citigroup upped their target price on Boot Barn from $137.00 to $180.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. Finally, Bank of America upped their target price on Boot Barn from $160.00 to $173.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $173.67.

Boot Barn Stock Performance

NYSE:BOOT traded down $2.21 during trading on Monday, reaching $162.72. The company's stock had a trading volume of 692,229 shares, compared to its average volume of 818,837. The firm has a market cap of $4.98 billion, a price-to-earnings ratio of 27.77, a price-to-earnings-growth ratio of 1.94 and a beta of 1.69. The firm has a 50 day moving average of $148.67 and a 200-day moving average of $135.16. Boot Barn Holdings, Inc. has a 12 month low of $86.17 and a 12 month high of $176.64.

Boot Barn (NYSE:BOOT - Get Free Report) last issued its earnings results on Wednesday, May 14th. The company reported $1.22 EPS for the quarter, missing the consensus estimate of $1.24 by ($0.02). Boot Barn had a return on equity of 16.98% and a net margin of 9.47%. The company had revenue of $453.75 million during the quarter, compared to the consensus estimate of $458.56 million. During the same quarter in the prior year, the business earned $0.96 EPS. The firm's revenue for the quarter was up 16.8% compared to the same quarter last year. Equities research analysts forecast that Boot Barn Holdings, Inc. will post 5.82 earnings per share for the current fiscal year.

Boot Barn announced that its board has authorized a stock repurchase plan on Wednesday, May 14th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to reacquire up to 4.8% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's leadership believes its stock is undervalued.

About Boot Barn

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.