Squarepoint Ops LLC Cuts Stake in Boot Barn Holdings, Inc. $BOOT

Key Points

• Squarepoint Ops LLC cut its Boot Barn stake by 45.8% in the second quarter, selling 121,755 shares and retaining 144,229 shares worth approximately $23.7 million, or 0.48% of the company.
• Boot Barn reported quarterly EPS of $2.29, beating estimates of $1.69, while revenue rose 17.7% year over year to $593.5 million. The company provided fiscal 2027 EPS guidance of $8.80–$9.23.
• Analysts remain broadly positive, with an average “Buy” rating and a $219.55 price target, despite several firms recently lowering their targets; the stock opened at $152.48 and remains below its 52-week high of $210.25.

Squarepoint Ops LLC lowered its stake in Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 45.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 144,229 shares of the company's stock after selling 121,755 shares during the period. Squarepoint Ops LLC owned about 0.48% of Boot Barn worth $23,692,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Los Angeles Capital Management LLC purchased a new stake in Boot Barn in the fourth quarter valued at $29,000. Northwestern Mutual Wealth Management Co. purchased a new stake in Boot Barn in the 2nd quarter valued at approximately $33,000. Quantbot Technologies LP acquired a new position in Boot Barn during the second quarter worth $46,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Boot Barn during the 3rd quarter worth $49,000. Finally, Allworth Financial LP acquired a new position in Boot Barn during the second quarter worth about $57,000.

Boot Barn Stock Performance

Shares of BOOT opened at $152.48 on Wednesday. The firm has a fifty day moving average of $157.29 and a 200-day moving average of $162.24. The company has a market cap of $4.62 billion, a price-to-earnings ratio of 19.30, a price-to-earnings-growth ratio of 0.99 and a beta of 1.70. Boot Barn Holdings, Inc. has a 1 year low of $133.18 and a 1 year high of $210.25.

Boot Barn (NYSE:BOOT - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.60. Boot Barn had a return on equity of 18.78% and a net margin of 10.35%.The company had revenue of $593.51 million during the quarter, compared to analysts' expectations of $583.15 million. During the same quarter in the prior year, the business posted $1.74 earnings per share. The company's revenue for the quarter was up 17.7% compared to the same quarter last year. Boot Barn has set its FY 2027 guidance at 8.800-9.230 EPS and its Q2 2027 guidance at 1.550-1.650 EPS. Analysts predict that Boot Barn Holdings, Inc. will post 9.18 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Bank of America dropped their target price on shares of Boot Barn from $224.00 to $206.00 and set a "buy" rating for the company in a report on Friday, May 15th. TD Cowen lowered their price objective on Boot Barn from $225.00 to $190.00 and set a "buy" rating for the company in a research report on Thursday, July 30th. UBS Group set a $225.00 target price on shares of Boot Barn in a report on Wednesday, June 17th. Stephens upped their price target on Boot Barn from $196.00 to $207.00 and gave the stock an "overweight" rating in a research note on Monday, August 10th. Finally, Weiss Ratings lowered shares of Boot Barn from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Boot Barn presently has an average rating of "Buy" and an average price target of $219.55.

Boot Barn Company Profile

Boot Barn, Inc is a leading specialty retailer focused on western and work-related footwear, apparel and accessories. The company operates full-price and outlet retail stores under the Boot Barn and BootBarn.com brands, offering a wide assortment of cowboy boots, work boots, casual and fashion footwear, western and work apparel, hats, belts and related accessories. In addition to its brick-and-mortar network, Boot Barn maintains an e-commerce platform to serve customers seeking ranch-and-rodeo style clothing and rugged workwear from coast to coast.

Founded in 1978 in Southern California, Boot Barn began as a single store catering to ranchers, farmworkers and western enthusiasts.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.