Teacher Retirement System of Texas Sells 12,470 Shares of Boot Barn Holdings, Inc. (NYSE:BOOT)

Teacher Retirement System of Texas reduced its position in Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 56.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,671 shares of the company's stock after selling 12,470 shares during the period. Teacher Retirement System of Texas' holdings in Boot Barn were worth $1,039,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Signaturefd LLC increased its stake in Boot Barn by 201.8% during the fourth quarter. Signaturefd LLC now owns 166 shares of the company's stock worth $25,000 after acquiring an additional 111 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in Boot Barn in the first quarter worth approximately $29,000. Golden State Wealth Management LLC grew its stake in Boot Barn by 263.6% in the first quarter. Golden State Wealth Management LLC now owns 280 shares of the company's stock worth $30,000 after purchasing an additional 203 shares in the last quarter. Versant Capital Management Inc grew its stake in Boot Barn by 210.8% in the first quarter. Versant Capital Management Inc now owns 317 shares of the company's stock worth $34,000 after purchasing an additional 215 shares in the last quarter. Finally, Assetmark Inc. grew its stake in Boot Barn by 45.2% in the fourth quarter. Assetmark Inc. now owns 363 shares of the company's stock worth $55,000 after purchasing an additional 113 shares in the last quarter.

Analysts Set New Price Targets

A number of analysts have weighed in on BOOT shares. JPMorgan Chase & Co. upped their target price on Boot Barn from $196.00 to $207.00 and gave the stock an "overweight" rating in a report on Tuesday, May 27th. Stephens started coverage on Boot Barn in a report on Wednesday, April 9th. They set an "overweight" rating and a $100.00 target price for the company. Citigroup upped their target price on Boot Barn from $137.00 to $180.00 and gave the stock a "buy" rating in a report on Friday, May 16th. Robert W. Baird upped their target price on Boot Barn from $140.00 to $180.00 and gave the stock an "outperform" rating in a report on Thursday, May 15th. Finally, UBS Group upped their target price on Boot Barn from $156.00 to $210.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Boot Barn presently has a consensus rating of "Moderate Buy" and an average price target of $173.67.

Boot Barn Stock Performance

Shares of Boot Barn stock 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 1 year low of $86.17 and a 1 year high of $177.10.

Boot Barn (NYSE:BOOT - Get Free Report) last posted 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 firm had revenue of $453.75 million during the quarter, compared to the consensus estimate of $458.56 million. Boot Barn had a return on equity of 16.98% and a net margin of 9.47%. Boot Barn's revenue for the quarter was up 16.8% on a year-over-year basis. During the same quarter last year, the company posted $0.96 EPS. On average, equities analysts predict 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 approved a share repurchase program on Wednesday, May 14th that allows the company to buyback $200.00 million in shares. This buyback authorization allows the company to buy up to 4.8% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's leadership believes its shares are undervalued.

Insider Activity at Boot Barn

In other Boot Barn news, insider Laurie Marie Grijalva sold 2,438 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $160.67, for a total value of $391,713.46. Following the completion of the sale, the insider owned 14,593 shares in the company, valued at $2,344,657.31. This represents a 14.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael A. Love sold 4,154 shares of the stock in a transaction on Friday, May 23rd. The stock was sold at an average price of $155.34, for a total transaction of $645,282.36. Following the transaction, the insider owned 2,112 shares in the company, valued at approximately $328,078.08. This trade represents a 66.29% decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by corporate insiders.

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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