Natixis Advisors LLC Has $5.32 Million Holdings in Boot Barn Holdings, Inc. (NYSE:BOOT)

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 increased its stake in Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 24.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 49,508 shares of the company's stock after acquiring an additional 9,874 shares during the quarter. Natixis Advisors LLC owned approximately 0.16% of Boot Barn worth $5,318,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Opal Wealth Advisors LLC acquired a new position in shares of Boot Barn in the 1st quarter worth $29,000. Golden State Wealth Management LLC grew its holdings in shares of Boot Barn by 263.6% in the 1st quarter. Golden State Wealth Management LLC now owns 280 shares of the company's stock worth $30,000 after acquiring an additional 203 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of Boot Barn by 210.8% in the 1st quarter. Versant Capital Management Inc now owns 317 shares of the company's stock worth $34,000 after acquiring an additional 215 shares during the last quarter. Bayforest Capital Ltd acquired a new position in shares of Boot Barn in the 1st quarter worth $48,000. Finally, First Horizon Advisors Inc. grew its holdings in shares of Boot Barn by 20.6% in the 1st quarter. First Horizon Advisors Inc. now owns 1,321 shares of the company's stock worth $142,000 after acquiring an additional 226 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on BOOT shares. KeyCorp lifted their target price on Boot Barn from $195.00 to $210.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Craig Hallum upgraded Boot Barn from a "hold" rating to a "buy" rating and set a $130.00 price target on the stock in a report on Wednesday, April 23rd. BTIG Research lifted their price target on Boot Barn from $200.00 to $218.00 and gave the company a "buy" rating in a report on Friday, August 1st. UBS Group lifted their price objective on Boot Barn from $156.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Finally, JPMorgan Chase & Co. boosted their price target on Boot Barn from $207.00 to $247.00 and gave the stock an "overweight" rating in a research report on Monday, July 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Boot Barn currently has an average rating of "Moderate Buy" and an average price target of $182.54.

Boot Barn Trading Down 1.7%

BOOT traded down $2.80 on Friday, hitting $165.84. 470,621 shares of the stock traded hands, compared to its average volume of 729,137. Boot Barn Holdings, Inc. has a 52 week low of $86.17 and a 52 week high of $183.60. The firm has a market capitalization of $5.07 billion, a PE ratio of 26.16, a P/E/G ratio of 1.71 and a beta of 1.76. The business has a fifty day moving average price of $165.47 and a two-hundred day moving average price of $138.13.

Boot Barn (NYSE:BOOT - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $1.74 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $489.49 million. During the same period in the previous year, the company posted $1.26 earnings per share. The company's quarterly revenue was up 19.1% compared to the same quarter last year. On average, equities research analysts forecast that Boot Barn Holdings, Inc. will post 5.82 EPS for the current fiscal year.

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

Insider Activity

In other news, insider Laurie Marie Grijalva sold 2,438 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $160.67, for a total value of $391,713.46. Following the sale, the insider directly owned 14,593 shares in the company, valued at approximately $2,344,657.31. This represents a 14.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Michael A. Love sold 4,154 shares of the company's stock in a transaction that occurred on 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 owned 2,112 shares in the company, valued at approximately $328,078.08. This represents a 66.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.66% of the company's stock.

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.