NBC Securities Inc. Boosts Stock Position in Boot Barn Holdings, Inc. (NYSE:BOOT)

NBC Securities Inc. grew its position in Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 152,125.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,089 shares of the company's stock after buying an additional 6,085 shares during the quarter. NBC Securities Inc.'s holdings in Boot Barn were worth $654,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Boot Barn by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 3,409,865 shares of the company's stock worth $517,686,000 after purchasing an additional 73,089 shares during the last quarter. FMR LLC lifted its stake in shares of Boot Barn by 47.3% during the 4th quarter. FMR LLC now owns 2,211,300 shares of the company's stock worth $335,720,000 after purchasing an additional 709,903 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Boot Barn by 48.6% during the 4th quarter. Wellington Management Group LLP now owns 2,161,052 shares of the company's stock worth $328,091,000 after purchasing an additional 706,518 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of Boot Barn by 32.6% during the 4th quarter. Capital Research Global Investors now owns 1,141,821 shares of the company's stock worth $173,351,000 after purchasing an additional 280,892 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its stake in shares of Boot Barn by 13.2% during the 4th quarter. Alliancebernstein L.P. now owns 846,983 shares of the company's stock worth $128,589,000 after purchasing an additional 99,029 shares during the last quarter.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Wall Street Zen cut Boot Barn from a "hold" rating to a "sell" rating in a research note on Monday, February 17th. Stephens assumed coverage on Boot Barn in a research note on Wednesday, April 9th. They set an "overweight" rating and a $100.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on Boot Barn from $196.00 to $207.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 27th. KeyCorp decreased their price target on Boot Barn from $190.00 to $165.00 and set an "overweight" rating for the company in a research note on Tuesday, April 29th. Finally, UBS Group increased their price target on Boot Barn from $156.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $173.67.

Insider Activity

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

Boot Barn Trading Down 0.7%

Shares of BOOT stock traded down $1.22 during mid-day trading on Friday, reaching $165.18. The stock had a trading volume of 540,268 shares, compared to its average volume of 824,242. The business's fifty day moving average is $123.51 and its 200-day moving average is $133.04. The firm has a market cap of $5.05 billion, a price-to-earnings ratio of 29.50, a PEG ratio of 1.17 and a beta of 1.73. Boot Barn Holdings, Inc. has a 1-year low of $86.17 and a 1-year high of $176.64.

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

Boot Barn announced that its board has approved a share buyback plan on Wednesday, May 14th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to repurchase up to 4.8% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company's board of directors believes its shares are undervalued.

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.