Trust Point Inc. Decreases Holdings in Boot Barn Holdings, Inc. (NYSE:BOOT)

Trust Point Inc. decreased its position in shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 55.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,231 shares of the company's stock after selling 2,793 shares during the period. Trust Point Inc.'s holdings in Boot Barn were worth $240,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Alberta Investment Management Corp bought a new position in shares of Boot Barn during the fourth quarter valued at about $2,842,000. Charles Schwab Investment Management Inc. grew its stake in shares of Boot Barn by 1.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 358,579 shares of the company's stock valued at $54,439,000 after buying an additional 5,881 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of Boot Barn during the fourth quarter valued at about $42,440,000. TimesSquare Capital Management LLC grew its stake in shares of Boot Barn by 134.5% during the fourth quarter. TimesSquare Capital Management LLC now owns 289,641 shares of the company's stock valued at $43,973,000 after buying an additional 166,121 shares during the last quarter. Finally, Knights of Columbus Asset Advisors LLC grew its stake in shares of Boot Barn by 21.7% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 17,724 shares of the company's stock valued at $2,691,000 after buying an additional 3,162 shares during the last quarter.

Insider Buying and Selling

In related news, insider Michael A. Love sold 4,154 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 2,112 shares in the company, valued at $328,078.08. The trade was a 66.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Laurie Marie Grijalva sold 2,438 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $160.67, for a total transaction of $391,713.46. Following the completion of the transaction, the insider now owns 14,593 shares of the company's stock, valued at approximately $2,344,657.31. The trade was a 14.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts recently issued reports on BOOT shares. KeyCorp cut their target price on Boot Barn from $190.00 to $165.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 29th. Stephens started coverage on Boot Barn in a research note on Wednesday, April 9th. They issued an "overweight" rating and a $100.00 target price on the stock. JPMorgan Chase & Co. raised their target price on Boot Barn from $196.00 to $207.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 27th. Bank of America raised their target price on Boot Barn from $160.00 to $173.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. Finally, Robert W. Baird raised their target price on Boot Barn from $140.00 to $180.00 and gave the stock an "outperform" rating in a research note on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $173.67.

Boot Barn Stock Up 0.8%

Shares of BOOT stock traded up $1.37 during trading hours on Friday, hitting $164.66. 657,136 shares of the company's stock traded hands, compared to its average volume of 818,394. The stock's fifty day simple moving average is $136.22 and its two-hundred day simple moving average is $134.61. Boot Barn Holdings, Inc. has a 12-month low of $86.17 and a 12-month high of $176.64. The stock has a market cap of $5.04 billion, a price-to-earnings ratio of 28.10, a PEG ratio of 1.93 and a beta of 1.73.

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

Boot Barn declared that its Board of Directors has authorized a share repurchase program on Wednesday, May 14th that permits the company to repurchase $200.00 million in shares. This repurchase authorization permits the company to repurchase up to 4.8% of its stock through open market purchases. Stock repurchase programs are often 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.