Peregrine Capital Management LLC Acquires 21,415 Shares of Boot Barn Holdings, Inc. (NYSE:BOOT)

Peregrine Capital Management LLC increased its stake in shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 34.1% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 84,284 shares of the company's stock after acquiring an additional 21,415 shares during the period. Peregrine Capital Management LLC owned about 0.28% of Boot Barn worth $9,055,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of BOOT. Signaturefd LLC grew its position in shares of Boot Barn by 201.8% in the 4th quarter. Signaturefd LLC now owns 166 shares of the company's stock valued at $25,000 after acquiring an additional 111 shares during the period. Opal Wealth Advisors LLC bought a new position in Boot Barn during the first quarter worth about $29,000. Golden State Wealth Management LLC raised its stake in Boot Barn by 263.6% in the first quarter. Golden State Wealth Management LLC now owns 280 shares of the company's stock valued at $30,000 after buying an additional 203 shares during the period. Versant Capital Management Inc lifted its position in shares of 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 buying an additional 215 shares during the last quarter. Finally, Assetmark Inc. lifted its position in shares of 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 buying an additional 113 shares during the last quarter.

Insider Activity

In related news, insider Michael A. Love sold 4,154 shares of Boot Barn stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $155.34, for a total transaction of $645,282.36. Following the sale, the insider directly owned 2,112 shares of the company's stock, valued at approximately $328,078.08. The trade was a 66.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Laurie Marie Grijalva sold 2,438 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider directly owned 14,593 shares of the company's stock, valued at approximately $2,344,657.31. The trade was a 14.32% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company's stock.

Boot Barn Stock Up 3.0%

Shares of BOOT traded up $4.74 during trading hours on Thursday, hitting $164.93. 386,374 shares of the company were exchanged, compared to its average volume of 816,042. Boot Barn Holdings, Inc. has a fifty-two week low of $86.17 and a fifty-two week high of $176.64. The company has a market cap of $5.05 billion, a price-to-earnings ratio of 28.15, a P/E/G ratio of 1.84 and a beta of 1.69. The firm's fifty day moving average is $146.17 and its 200 day moving average is $135.09.

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 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 firm had revenue of $453.75 million for the quarter, compared to the consensus estimate of $458.56 million. During the same period in the prior year, the company earned $0.96 EPS. The company's revenue for the quarter was up 16.8% compared to the same quarter last year. Analysts anticipate that Boot Barn Holdings, Inc. will post 5.82 EPS for the current year.

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

Wall Street Analyst Weigh In

BOOT has been the topic of a number of recent analyst reports. Bank of America boosted their target price on Boot Barn from $160.00 to $173.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. JPMorgan Chase & Co. upped their price objective 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. Robert W. Baird raised their target price on shares of Boot Barn from $140.00 to $180.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. Stephens started coverage on shares of Boot Barn in a research note on Wednesday, April 9th. They issued an "overweight" rating and a $100.00 price target on the stock. Finally, UBS Group increased their price target on shares of Boot Barn from $156.00 to $210.00 and gave the company a "buy" rating in a report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $173.67.

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.