ProShare Advisors LLC Has $1.36 Million Stock Position in Boot Barn Holdings, Inc. (NYSE:BOOT)

ProShare Advisors LLC grew its stake in Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 44.3% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 8,938 shares of the company's stock after buying an additional 2,745 shares during the quarter. ProShare Advisors LLC's holdings in Boot Barn were worth $1,357,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FMR LLC grew its holdings in Boot Barn by 47.3% during the fourth quarter. FMR LLC now owns 2,211,300 shares of the company's stock worth $335,720,000 after acquiring an additional 709,903 shares during the period. Wellington Management Group LLP grew its holdings in Boot Barn by 48.6% during the fourth quarter. Wellington Management Group LLP now owns 2,161,052 shares of the company's stock worth $328,091,000 after acquiring an additional 706,518 shares during the period. Stephens Investment Management Group LLC acquired a new position in Boot Barn during the fourth quarter worth $46,699,000. Proficio Capital Partners LLC acquired a new position in Boot Barn during the fourth quarter worth $45,177,000. Finally, Capital Research Global Investors grew its holdings in Boot Barn by 32.6% during the fourth quarter. Capital Research Global Investors now owns 1,141,821 shares of the company's stock worth $173,351,000 after acquiring an additional 280,892 shares during the period.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on BOOT shares. UBS Group upped 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. Bank of America increased their price target on Boot Barn from $160.00 to $173.00 and gave the company a "buy" rating in a report on Thursday, May 15th. Craig Hallum raised Boot Barn from a "hold" rating to a "buy" rating and set a $130.00 price target for the company in a report on Wednesday, April 23rd. JPMorgan Chase & Co. reduced their price target on Boot Barn from $209.00 to $196.00 and set an "overweight" rating for the company in a report on Thursday, May 15th. Finally, Robert W. Baird increased their target price on Boot Barn from $140.00 to $180.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Boot Barn presently has an average rating of "Moderate Buy" and an average price target of $170.62.

Boot Barn Price Performance

Shares of BOOT traded up $6.22 during trading hours on Tuesday, hitting $163.18. 135,705 shares of the company were exchanged, compared to its average volume of 827,087. The company has a market capitalization of $4.99 billion, a PE ratio of 29.08, a PEG ratio of 1.17 and a beta of 1.59. The firm has a fifty day simple moving average of $113.81 and a 200-day simple moving average of $131.29. Boot Barn Holdings, Inc. has a one year low of $86.17 and a one year high of $176.64.

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

Boot Barn announced that its board has approved a share 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 stock through open market purchases. Stock repurchase plans are generally an indication that the company's leadership believes its shares are undervalued.

Insider Buying and Selling at Boot Barn

In related news, insider Michael A. Love sold 4,154 shares of the business'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 transaction, the insider now owns 2,112 shares in the company, valued at $328,078.08. The trade was a 66.29% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Laurie Marie Grijalva sold 2,438 shares of the business'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 transaction of $391,713.46. Following the completion of the transaction, the insider now owns 14,593 shares of the company's stock, valued at $2,344,657.31. This trade represents a 14.32% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company's stock.

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.