Boot Barn Holdings, Inc. (NYSE:BOOT) Shares Bought by Natixis Advisors LLC

Key Points

• Natixis Advisors LLC increased its stake in Boot Barn Holdings by 24.9% during Q1, now holding 49,508 shares valued at approximately $5.3 million.
• Recent analyst reports have generally rated Boot Barn positively, with an average rating of "Moderate Buy" and a consensus price target of $182.54.
• Boot Barn's board authorized a $200 million share buyback program, signaling confidence in the company's stock valuation.

Natixis Advisors LLC lifted its holdings in shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 24.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,508 shares of the company's stock after purchasing an additional 9,874 shares during the quarter. Natixis Advisors LLC owned 0.16% of Boot Barn worth $5,318,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Bayforest Capital Ltd purchased a new stake in shares of Boot Barn during the first quarter valued at approximately $48,000. XTX Topco Ltd purchased a new stake in shares of Boot Barn in the first quarter worth $1,477,000. Neo Ivy Capital Management purchased a new stake in shares of Boot Barn during the first quarter valued at $1,996,000. Cetera Investment Advisers boosted its position in shares of Boot Barn by 28.2% during the first quarter. Cetera Investment Advisers now owns 10,486 shares of the company's stock valued at $1,127,000 after buying an additional 2,307 shares during the last quarter. Finally, 1492 Capital Management LLC bought a new position in Boot Barn in the first quarter valued at about $588,000.

Insiders Place Their Bets

In related 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 position. The sale was disclosed in a document filed with the SEC, which is available through this link. 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. This trade represents a 66.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.66% of the company's stock.

Analyst Upgrades and Downgrades

BOOT has been the topic of a number of recent research reports. Jefferies Financial Group downgraded Boot Barn from a "buy" rating to a "hold" rating and lowered their target price for the company from $187.00 to $175.00 in a report on Wednesday, July 23rd. Citigroup raised their price target on Boot Barn from $137.00 to $180.00 and gave the company a "buy" rating in a report on Friday, May 16th. Craig Hallum upgraded Boot Barn from a "hold" rating to a "buy" rating and set a $130.00 target price for the company in a report on Wednesday, April 23rd. BTIG Research raised their price target on Boot Barn from $200.00 to $218.00 and gave the stock a "buy" rating in a research note on Friday, August 1st. Finally, KeyCorp raised their price target on Boot Barn from $195.00 to $210.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $182.54.

Boot Barn Price Performance

Shares of BOOT stock traded down $2.80 during mid-day trading on Friday, hitting $165.84. The stock had a trading volume of 470,621 shares, compared to its average volume of 909,909. Boot Barn Holdings, Inc. has a 12-month low of $86.17 and a 12-month high of $183.60. The firm has a market capitalization of $5.07 billion, a P/E ratio of 26.16, a price-to-earnings-growth ratio of 1.70 and a beta of 1.76. The firm's 50-day moving average is $165.36 and its two-hundred day moving average is $138.10.

Boot Barn (NYSE:BOOT - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $1.74 EPS for the quarter, topping the consensus estimate of $1.55 by $0.19. The firm had revenue of $504.07 million during the quarter, compared to analyst estimates of $489.49 million. Boot Barn had a return on equity of 17.73% and a net margin of 9.81%. The business's revenue for the quarter was up 19.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.26 EPS. Analysts expect that Boot Barn Holdings, Inc. will post 5.82 EPS for the current year.

Boot Barn declared that its Board of Directors has initiated a stock buyback plan on Wednesday, May 14th that allows the company to buyback $200.00 million in outstanding shares. This buyback authorization allows the company to purchase up to 4.8% of its shares through open market purchases. Shares buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Boot Barn Company 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.