Shellback Capital LP Buys 37,300 Shares of Boot Barn Holdings, Inc. $BOOT

Key Points

• Shellback Capital LP increased its stake in Boot Barn Holdings by 33.8%, owning 147,600 shares after acquiring 37,300 additional shares during the first quarter.
• Boot Barn reported a net income of $1.74 earnings per share (EPS), surpassing analysts' expectations, with revenue of $504.07 million for the quarter—up 19.1% year-on-year.
• Analyst ratings for Boot Barn are mostly positive, with a consensus rating of "Moderate Buy" and an average target price of $182.54.

Shellback Capital LP increased its holdings in shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 33.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 147,600 shares of the company's stock after buying an additional 37,300 shares during the quarter. Boot Barn accounts for about 1.5% of Shellback Capital LP's holdings, making the stock its 27th biggest holding. Shellback Capital LP owned approximately 0.48% of Boot Barn worth $15,857,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Invesco Ltd. boosted its stake in shares of Boot Barn by 24.8% in the 1st quarter. Invesco Ltd. now owns 903,453 shares of the company's stock valued at $97,058,000 after purchasing an additional 179,710 shares in the last quarter. Artemis Investment Management LLP grew its stake in shares of Boot Barn by 206.5% during the first quarter. Artemis Investment Management LLP now owns 734,023 shares of the company's stock worth $78,856,000 after buying an additional 494,523 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Boot Barn by 15.3% during the first quarter. American Century Companies Inc. now owns 569,390 shares of the company's stock worth $61,170,000 after buying an additional 75,413 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Boot Barn by 42.1% during the first quarter. Ameriprise Financial Inc. now owns 503,619 shares of the company's stock worth $54,110,000 after buying an additional 149,115 shares in the last quarter. Finally, Stephens Investment Management Group LLC lifted its stake in shares of Boot Barn by 51.4% in the 1st quarter. Stephens Investment Management Group LLC now owns 465,787 shares of the company's stock valued at $50,039,000 after acquiring an additional 158,195 shares during the last quarter.

Boot Barn Trading Down 0.4%

BOOT stock traded down $0.79 during midday trading on Wednesday, hitting $183.53. The stock had a trading volume of 268,946 shares, compared to its average volume of 856,103. The firm has a market cap of $5.61 billion, a P/E ratio of 28.95, a price-to-earnings-growth ratio of 1.90 and a beta of 1.62. The business has a fifty day moving average price of $171.82 and a two-hundred day moving average price of $142.10. Boot Barn Holdings, Inc. has a 1-year low of $86.17 and a 1-year high of $191.31.

Boot Barn (NYSE:BOOT - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The company reported $1.74 earnings per share for the quarter, topping analysts' consensus estimates of $1.55 by $0.19. Boot Barn had a return on equity of 17.73% and a net margin of 9.81%.The firm had revenue of $504.07 million during the quarter, compared to the consensus estimate of $489.49 million. During the same period last year, the business posted $1.26 EPS. The business's revenue was up 19.1% compared to the same quarter last year. Boot Barn has set its Q2 2026 guidance at 1.190-1.270 EPS. FY 2026 guidance at 5.800-6.700 EPS. On average, equities analysts anticipate that Boot Barn Holdings, Inc. will post 5.82 EPS for the current year.

Boot Barn announced that its board has authorized a stock repurchase plan on Wednesday, May 14th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to buy up to 4.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company's leadership believes its stock is undervalued.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BOOT. Jefferies Financial Group lowered Boot Barn from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $187.00 to $175.00 in a research report on Wednesday, July 23rd. Citigroup lifted their price target on Boot Barn from $137.00 to $180.00 and gave the company a "buy" rating in a research note on Friday, May 16th. 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 note on Thursday, May 15th. Cowen reiterated a "buy" rating on shares of Boot Barn in a research report on Monday, July 28th. Finally, Robert W. Baird boosted their target price on shares of Boot Barn from $140.00 to $180.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Boot Barn has a consensus rating of "Moderate Buy" and an average target price of $182.54.

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.