ProShare Advisors LLC Acquires 2,745 Shares of Boot Barn Holdings, Inc. (NYSE:BOOT)

ProShare Advisors LLC grew its holdings in Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 44.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,938 shares of the company's stock after purchasing an additional 2,745 shares during the period. ProShare Advisors LLC's holdings in Boot Barn were worth $1,357,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Stephens Investment Management Group LLC bought a new position in Boot Barn in the fourth quarter valued at $46,699,000. Alberta Investment Management Corp acquired a new position in shares of Boot Barn during the 4th quarter worth about $2,842,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Boot Barn by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 358,579 shares of the company's stock worth $54,439,000 after buying an additional 5,881 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Boot Barn in the 4th quarter valued at about $42,440,000. Finally, TimesSquare Capital Management LLC increased its position in shares of Boot Barn by 134.5% in the fourth quarter. TimesSquare Capital Management LLC now owns 289,641 shares of the company's stock valued at $43,973,000 after acquiring an additional 166,121 shares during the last quarter.

Analyst Ratings Changes

BOOT has been the subject of several recent research reports. 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 research report on Thursday, May 15th. StockNews.com downgraded Boot Barn from a "hold" rating to a "sell" rating in a report on Monday, February 17th. JPMorgan Chase & Co. decreased their target price on shares of Boot Barn from $209.00 to $196.00 and set an "overweight" rating for the company in a research note on Thursday, May 15th. KeyCorp dropped their price target on shares of Boot Barn from $190.00 to $165.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 29th. 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 research note on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $170.62.

Boot Barn Price Performance

NYSE:BOOT opened at $157.49 on Thursday. The company has a market cap of $4.82 billion, a P/E ratio of 28.12, a P/E/G ratio of 1.17 and a beta of 1.59. The firm's fifty day moving average price is $110.57 and its two-hundred day moving average price is $130.74. 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 announced 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 company had revenue of $453.75 million for the quarter, compared to the consensus estimate 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 in the previous year, the firm posted $0.96 EPS. As a group, equities research analysts expect that Boot Barn Holdings, Inc. will post 5.82 earnings per share for the current year.

Boot Barn declared that its Board of Directors has authorized a share buyback program on Wednesday, May 14th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to buy up to 4.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its shares are undervalued.

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.

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