The Manufacturers Life Insurance Company Makes New $2.70 Million Investment in Boot Barn Holdings, Inc. $BOOT

Key Points

• The Manufacturers Life Insurance Company acquired 16,416 Boot Barn shares worth approximately $2.70 million, joining other institutional investors that increased their positions.
• Analysts remain broadly bullish, with an average “Buy” rating and a consensus price target of $219.55, although BTIG Research and TD Cowen recently lowered their targets.
• Boot Barn reported strong quarterly results, earning $2.29 per share versus the $1.69 consensus estimate, while revenue rose 17.7% year over year to $593.51 million.

The Manufacturers Life Insurance Company acquired a new position in shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 16,416 shares of the company's stock, valued at approximately $2,697,000. The Manufacturers Life Insurance Company owned approximately 0.05% of Boot Barn at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of BOOT. Arrowstreet Capital Limited Partnership grew its holdings in shares of Boot Barn by 361.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 48,448 shares of the company's stock worth $7,091,000 after purchasing an additional 37,951 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Boot Barn by 11.4% during the 4th quarter. Principal Financial Group Inc. now owns 393,098 shares of the company's stock valued at $69,370,000 after purchasing an additional 40,282 shares during the last quarter. UBS Group AG lifted its holdings in Boot Barn by 16.4% during the 4th quarter. UBS Group AG now owns 172,380 shares of the company's stock valued at $30,420,000 after purchasing an additional 24,229 shares during the last quarter. Fifth Third Bancorp boosted its position in Boot Barn by 15,768.5% in the first quarter. Fifth Third Bancorp now owns 34,276 shares of the company's stock valued at $5,017,000 after buying an additional 34,060 shares in the last quarter. Finally, Hsbc Holdings PLC boosted its position in Boot Barn by 335.5% in the first quarter. Hsbc Holdings PLC now owns 14,527 shares of the company's stock valued at $2,132,000 after buying an additional 11,191 shares in the last quarter.

Wall Street Analysts Forecast Growth

BOOT has been the subject of several recent analyst reports. BTIG Research dropped their price objective on shares of Boot Barn from $235.00 to $215.00 and set a "buy" rating for the company in a report on Thursday, July 30th. UBS Group set a $225.00 target price on Boot Barn in a report on Wednesday, June 17th. Weiss Ratings lowered Boot Barn from a "hold (c+)" rating to a "hold (c)" rating in a research report on Tuesday, August 18th. TD Cowen dropped their price target on Boot Barn from $225.00 to $190.00 and set a "buy" rating for the company in a report on Thursday, July 30th. Finally, Zacks Research upgraded Boot Barn from a "hold" rating to a "strong-buy" rating in a research report on Monday, August 3rd. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Boot Barn currently has an average rating of "Buy" and an average price target of $219.55.

Boot Barn Trading Up 0.1%

Shares of NYSE BOOT opened at $148.90 on Thursday. Boot Barn Holdings, Inc. has a 1-year low of $133.18 and a 1-year high of $210.25. The company has a market cap of $4.51 billion, a PE ratio of 18.85, a P/E/G ratio of 0.96 and a beta of 1.70. The company has a 50-day moving average of $158.73 and a two-hundred day moving average of $163.37.

Boot Barn (NYSE:BOOT - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $2.29 EPS for the quarter, beating the consensus estimate of $1.69 by $0.60. The business had revenue of $593.51 million for the quarter, compared to analysts' expectations of $583.15 million. Boot Barn had a net margin of 10.35% and a return on equity of 18.78%. Boot Barn's revenue was up 17.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.74 earnings per share. 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. As a group, equities research analysts forecast that Boot Barn Holdings, Inc. will post 9.18 earnings per share for the current year.

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.

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