Stephens Investment Management Group LLC Purchases 158,195 Shares of Boot Barn Holdings, Inc. (NYSE:BOOT)

Stephens Investment Management Group LLC lifted its holdings in Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 51.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 465,787 shares of the company's stock after acquiring an additional 158,195 shares during the quarter. Stephens Investment Management Group LLC owned approximately 1.52% of Boot Barn worth $50,039,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Bank of Montreal Can raised its stake in shares of Boot Barn by 1.4% in the fourth quarter. Bank of Montreal Can now owns 5,936 shares of the company's stock worth $901,000 after acquiring an additional 82 shares during the last quarter. Cetera Investment Advisers increased its holdings in shares of Boot Barn by 1.0% in the fourth quarter. Cetera Investment Advisers now owns 8,179 shares of the company's stock valued at $1,242,000 after purchasing an additional 83 shares in the last quarter. Coldstream Capital Management Inc. raised its position in Boot Barn by 7.6% in the 4th quarter. Coldstream Capital Management Inc. now owns 1,367 shares of the company's stock worth $208,000 after purchasing an additional 97 shares during the last quarter. Summit Investment Advisors Inc. lifted its holdings in Boot Barn by 3.3% during the 4th quarter. Summit Investment Advisors Inc. now owns 3,096 shares of the company's stock worth $470,000 after buying an additional 98 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its holdings in Boot Barn by 5.7% during the 1st quarter. Park Avenue Securities LLC now owns 1,963 shares of the company's stock worth $211,000 after buying an additional 105 shares in the last quarter.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on BOOT. KeyCorp dropped their target price on Boot Barn from $190.00 to $165.00 and set an "overweight" rating for the company in a research report on Tuesday, April 29th. Piper Sandler lifted their price objective on Boot Barn from $162.00 to $184.00 and gave the stock an "overweight" rating in a research report on Thursday, May 15th. Bank of America upped their target price on shares of Boot Barn from $160.00 to $173.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Craig Hallum raised Boot Barn from a "hold" rating to a "buy" rating and set a $130.00 price objective for the company in a research note on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. upped their target price on shares of Boot Barn from $196.00 to $207.00 and gave the company an "overweight" rating in a research note on Tuesday, May 27th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $173.67.

Insider Buying and Selling at Boot Barn

In other Boot Barn news, insider Michael A. Love sold 4,154 shares of Boot Barn stock in a transaction 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 sale, the insider directly owned 2,112 shares in the company, valued at approximately $328,078.08. The trade was a 66.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Laurie Marie Grijalva sold 2,438 shares of the business's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $160.67, for a total transaction of $391,713.46. Following the sale, the insider directly owned 14,593 shares in the company, valued at $2,344,657.31. This trade represents a 14.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.00% of the company's stock.

Boot Barn Price Performance

Shares of BOOT traded down $2.36 during midday trading on Friday, hitting $171.00. The stock had a trading volume of 726,762 shares, compared to its average volume of 820,655. The firm has a market cap of $5.23 billion, a price-to-earnings ratio of 29.18, a price-to-earnings-growth ratio of 2.01 and a beta of 1.69. The company has a 50 day simple moving average of $154.84 and a two-hundred day simple moving average of $135.96. Boot Barn Holdings, Inc. has a twelve month low of $86.17 and a twelve month high of $177.10.

Boot Barn (NYSE:BOOT - Get Free Report) last announced its earnings results on Wednesday, May 14th. The company reported $1.22 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.24 by ($0.02). Boot Barn had a net margin of 9.47% and a return on equity of 16.98%. The firm had revenue of $453.75 million during the quarter, compared to analyst estimates of $458.56 million. During the same period in the prior year, the business posted $0.96 EPS. The firm's quarterly revenue was up 16.8% compared to the same quarter last year. Analysts forecast that Boot Barn Holdings, Inc. will post 5.82 EPS for the current fiscal year.

Boot Barn declared that its board has authorized a share buyback plan on Wednesday, May 14th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to purchase 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.

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.