Schechter Investment Advisors LLC Buys 3,490 Shares of Boot Barn Holdings, Inc. (NYSE:BOOT)

Schechter Investment Advisors LLC raised its stake in shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 32.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,114 shares of the company's stock after purchasing an additional 3,490 shares during the period. Schechter Investment Advisors LLC's holdings in Boot Barn were worth $1,516,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Signaturefd LLC lifted its holdings 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 last quarter. Opal Wealth Advisors LLC bought a new position in shares of Boot Barn in the 1st quarter valued at about $29,000. Golden State Wealth Management LLC lifted its holdings in shares of Boot Barn by 263.6% in the 1st quarter. Golden State Wealth Management LLC now owns 280 shares of the company's stock valued at $30,000 after acquiring an additional 203 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of Boot Barn by 210.8% in the 1st quarter. Versant Capital Management Inc now owns 317 shares of the company's stock valued at $34,000 after acquiring an additional 215 shares during the last quarter. Finally, Assetmark Inc. lifted its holdings in shares of Boot Barn by 45.2% in the 4th quarter. Assetmark Inc. now owns 363 shares of the company's stock valued at $55,000 after acquiring an additional 113 shares during the last quarter.

Analysts Set New Price Targets

A number of research analysts recently commented on BOOT shares. 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. Bank of America increased their price target on shares of Boot Barn from $160.00 to $173.00 and gave the company a "buy" rating in a report on Thursday, May 15th. JPMorgan Chase & Co. increased their price objective on shares of Boot Barn from $196.00 to $207.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 27th. Stephens assumed coverage on shares of Boot Barn in a research report on Wednesday, April 9th. They issued an "overweight" rating and a $100.00 price objective on the stock. Finally, Citigroup increased their price objective on shares of Boot Barn from $137.00 to $180.00 and gave the stock a "buy" rating in a research report on Friday, May 16th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $173.67.

Insider Activity at Boot Barn

In related news, insider Laurie Marie Grijalva sold 2,438 shares of Boot Barn 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 transaction, the insider directly owned 14,593 shares of the company's stock, valued at $2,344,657.31. This trade represents a 14.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Michael A. Love sold 4,154 shares of the firm'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 transaction of $645,282.36. Following the completion of the sale, the insider owned 2,112 shares of the company's stock, valued at approximately $328,078.08. This trade represents a 66.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.00% of the company's stock.

Boot Barn Stock Performance

Shares of NYSE:BOOT opened at $171.00 on Monday. The firm has a market cap of $5.23 billion, a PE ratio of 29.18, a price-to-earnings-growth ratio of 2.01 and a beta of 1.69. The firm's 50 day simple moving average is $154.84 and its 200-day simple moving average is $135.82. Boot Barn Holdings, Inc. has a one year low of $86.17 and a one year high of $177.10.

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 analysts' consensus estimates of $1.24 by ($0.02). The company had revenue of $453.75 million for the quarter, compared to analysts' expectations of $458.56 million. Boot Barn had a return on equity of 16.98% and a net margin of 9.47%. The business's revenue was up 16.8% compared to the same quarter last year. During the same period last year, the business posted $0.96 earnings per share. Equities research analysts predict that Boot Barn Holdings, Inc. will post 5.82 EPS for the current fiscal year.

Boot Barn announced that its Board of Directors has authorized 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 repurchase up to 4.8% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company's leadership believes its shares are undervalued.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.