NBC Securities Inc. Purchases 6,085 Shares of Boot Barn Holdings, Inc. (NYSE:BOOT)

NBC Securities Inc. boosted its stake in Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 152,125.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,089 shares of the company's stock after purchasing an additional 6,085 shares during the quarter. NBC Securities Inc.'s holdings in Boot Barn were worth $654,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Blue Trust Inc. increased its stake in shares of Boot Barn by 1,430.0% in the 4th quarter. Blue Trust Inc. now owns 153 shares of the company's stock valued at $26,000 after acquiring an additional 143 shares during the last quarter. Signaturefd LLC grew its holdings in Boot Barn by 201.8% during the fourth quarter. Signaturefd LLC now owns 166 shares of the company's stock valued at $25,000 after purchasing an additional 111 shares during the period. Versant Capital Management Inc increased its stake in Boot Barn by 210.8% in the first quarter. Versant Capital Management Inc now owns 317 shares of the company's stock valued at $34,000 after purchasing an additional 215 shares in the last quarter. Assetmark Inc. increased its stake in Boot Barn by 45.2% in the fourth quarter. Assetmark Inc. now owns 363 shares of the company's stock valued at $55,000 after purchasing an additional 113 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its holdings in Boot Barn by 212.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 749 shares of the company's stock worth $115,000 after purchasing an additional 509 shares during the period.

Boot Barn Stock Performance

NYSE BOOT traded down $1.22 during trading on Friday, hitting $165.18. The stock had a trading volume of 540,268 shares, compared to its average volume of 822,469. Boot Barn Holdings, Inc. has a 12 month low of $86.17 and a 12 month high of $176.64. The company's 50-day moving average price is $122.43 and its two-hundred day moving average price is $132.83. The company has a market capitalization of $5.05 billion, a PE ratio of 29.50, a P/E/G ratio of 1.17 and a beta of 1.59.

Boot Barn (NYSE:BOOT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The company reported $1.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.24 by ($0.02). Boot Barn had a net margin of 9.36% and a return on equity of 17.11%. The business had revenue of $453.75 million during the quarter, compared to analyst estimates of $458.56 million. During the same quarter last year, the business earned $0.96 earnings per share. Boot Barn's revenue for the quarter was up 16.8% on a year-over-year basis. As a group, equities analysts anticipate that Boot Barn Holdings, Inc. will post 5.82 earnings per share for the current fiscal year.

Boot Barn announced that its Board of Directors has initiated a stock buyback program on Wednesday, May 14th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to repurchase up to 4.8% of its stock through open market purchases. Stock buyback programs are usually a sign that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

BOOT has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Boot Barn from $196.00 to $207.00 and gave the company an "overweight" rating in a report on Tuesday, May 27th. Piper Sandler lifted their target price on Boot Barn from $162.00 to $184.00 and gave the stock an "overweight" rating in a report on Thursday, May 15th. KeyCorp lowered their price target on Boot Barn from $190.00 to $165.00 and set an "overweight" rating for the company in a report on Tuesday, April 29th. Stephens started coverage on Boot Barn in a research report on Wednesday, April 9th. They set an "overweight" rating and a $100.00 price target on the stock. Finally, Wall Street Zen lowered Boot Barn from a "hold" rating to a "sell" rating in a research report on Monday, February 17th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $173.67.

Insiders Place Their Bets

In other Boot Barn news, insider Laurie Marie Grijalva sold 2,438 shares of the company's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $160.67, for a total transaction of $391,713.46. Following the sale, the insider now directly owns 14,593 shares of the company's stock, valued at approximately $2,344,657.31. This represents a 14.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 now owns 2,112 shares in the company, valued at $328,078.08. This represents a 66.29% decrease in their position. The disclosure for this sale can be found here. Insiders own 1.00% of the company's stock.

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.