Thrivent Financial for Lutherans Decreases Stake in Boot Barn Holdings, Inc. $BOOT

Key Points

• Thrivent Financial for Lutherans cut its Boot Barn stake by 5.5% in the fourth quarter, selling 21,589 shares and ending with 369,368 shares worth about $65.2 million.
• Boot Barn posted strong fiscal Q4 results, beating Wall Street estimates on both earnings and revenue, with EPS of $1.45 and revenue of $538.75 million, up 18.7% year over year.
• Despite the beat, management’s Q1 FY2027 EPS guidance of $1.62 to $1.71 came in below consensus, even as the company kept a bullish full-year outlook and analysts largely maintained buy ratings.

Thrivent Financial for Lutherans reduced its stake in Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 5.5% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 369,368 shares of the company's stock after selling 21,589 shares during the quarter. Thrivent Financial for Lutherans owned about 1.21% of Boot Barn worth $65,183,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Parkside Financial Bank & Trust raised its position in shares of Boot Barn by 164.4% in the 3rd quarter. Parkside Financial Bank & Trust now owns 193 shares of the company's stock valued at $32,000 after purchasing an additional 120 shares during the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in shares of Boot Barn in the 3rd quarter valued at approximately $49,000. Danske Bank A S raised its position in shares of Boot Barn by 200.0% in the 4th quarter. Danske Bank A S now owns 300 shares of the company's stock valued at $53,000 after purchasing an additional 200 shares during the last quarter. Johnson Financial Group Inc. purchased a new position in Boot Barn during the 3rd quarter worth approximately $60,000. Finally, Huntington National Bank raised its position in Boot Barn by 64.3% during the 3rd quarter. Huntington National Bank now owns 529 shares of the company's stock worth $88,000 after buying an additional 207 shares during the last quarter.

Boot Barn News Summary

Here are the key news stories impacting Boot Barn this week:

• Positive Sentiment: Boot Barn reported fiscal Q4 earnings and revenue that both topped Wall Street estimates, with EPS of $1.45 versus $1.43 expected and revenue of $538.75 million versus $531.23 million expected. Revenue rose 18.7% year over year, suggesting demand remains solid. Article source
• Positive Sentiment: The company described the period as a “record year” and continued to highlight store expansion, including an 80-store increase, which supports a longer-term growth story. Article source
• Positive Sentiment: Boot Barn’s fiscal 2027 outlook calls for $2.6 billion in revenue and EPS of $8.21 to $8.64, reinforcing management’s confidence in continued growth. Article source
• Neutral Sentiment: Several brokerages reiterated bullish ratings, but some lowered their price targets after the earnings update, including Bank of America and Robert W. Baird, indicating expectations remain constructive but have been adjusted downward. Article source
• Negative Sentiment: Boot Barn’s first-quarter fiscal 2027 EPS guidance of $1.62 to $1.71 came in below the consensus estimate of $1.94, which may be pressuring the stock despite the strong Q4 beat. Article source

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. UBS Group raised their price target on shares of Boot Barn from $270.00 to $272.00 and gave the stock a "buy" rating in a research report on Friday. Stephens raised shares of Boot Barn from an "equal weight" rating to an "overweight" rating and set a $237.00 price target for the company in a research report on Friday, February 6th. Piper Sandler reduced their price target on shares of Boot Barn from $230.00 to $226.00 and set an "overweight" rating for the company in a research report on Friday. BTIG Research reissued a "buy" rating and set a $235.00 price target on shares of Boot Barn in a research report on Friday. Finally, Citigroup reissued a "buy" rating on shares of Boot Barn in a research report on Monday, May 4th. Twelve investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $230.83.

Boot Barn Price Performance

Shares of NYSE BOOT opened at $143.92 on Friday. The firm's 50 day simple moving average is $158.86 and its 200-day simple moving average is $178.99. Boot Barn Holdings, Inc. has a 12 month low of $133.18 and a 12 month high of $210.25. The stock has a market capitalization of $4.38 billion, a price-to-earnings ratio of 19.58, a PEG ratio of 0.89 and a beta of 1.73.

Boot Barn (NYSE:BOOT - Get Free Report) last released its quarterly earnings results on Thursday, May 14th. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.43 by $0.02. Boot Barn had a net margin of 10.02% and a return on equity of 18.52%. The firm had revenue of $538.75 million for the quarter, compared to analysts' expectations of $531.44 million. During the same quarter last year, the company earned $1.22 EPS. The firm's revenue for the quarter was up 18.7% compared to the same quarter last year. Boot Barn has set its Q1 2027 guidance at 1.620-1.710 EPS and its FY 2027 guidance at 8.210-8.640 EPS. Analysts anticipate that Boot Barn Holdings, Inc. will post 8.54 earnings per share for the current fiscal year.

About Boot Barn

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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