Trust Point Inc. Has $240,000 Stock Holdings in Boot Barn Holdings, Inc. (NYSE:BOOT)

Trust Point Inc. trimmed its position in Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 55.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,231 shares of the company's stock after selling 2,793 shares during the quarter. Trust Point Inc.'s holdings in Boot Barn were worth $240,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BOOT. Bank of Montreal Can grew its position in shares of Boot Barn by 1.4% during the 4th quarter. Bank of Montreal Can now owns 5,936 shares of the company's stock worth $901,000 after buying an additional 82 shares during the period. Cetera Investment Advisers lifted its holdings in 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 buying an additional 83 shares during the period. Coldstream Capital Management Inc. boosted its stake in Boot Barn by 7.6% in the fourth quarter. Coldstream Capital Management Inc. now owns 1,367 shares of the company's stock valued at $208,000 after acquiring an additional 97 shares during the last quarter. Summit Investment Advisors Inc. grew 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 acquiring an additional 98 shares during the period. Finally, Arizona State Retirement System raised its position in shares of Boot Barn by 1.1% during the 4th quarter. Arizona State Retirement System now owns 8,853 shares of the company's stock valued at $1,344,000 after acquiring an additional 100 shares during the last quarter.

Analyst Ratings Changes

BOOT has been the topic of several recent research reports. Bank of America raised their price target on Boot Barn from $160.00 to $173.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. KeyCorp reduced their target price on Boot Barn from $190.00 to $165.00 and set an "overweight" rating on the stock in a report on Tuesday, April 29th. Craig Hallum raised Boot Barn from a "hold" rating to a "buy" rating and set a $130.00 price target for the company in a research note on Wednesday, April 23rd. UBS Group increased their price target on shares of Boot Barn from $156.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Finally, Stephens initiated coverage on shares of Boot Barn in a report on Wednesday, April 9th. They set an "overweight" rating and a $100.00 price objective for the company. 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 given a strong buy rating to the stock. According to data from MarketBeat.com, Boot Barn presently has an average rating of "Moderate Buy" and an average price target of $173.67.

Boot Barn Stock Performance

NYSE:BOOT opened at $162.27 on Wednesday. The stock has a 50-day simple moving average of $132.38 and a 200 day simple moving average of $134.25. Boot Barn Holdings, Inc. has a 52-week low of $86.17 and a 52-week high of $176.64. The company has a market cap of $4.96 billion, a PE ratio of 27.69, a PEG ratio of 1.93 and a beta of 1.73.

Boot Barn (NYSE:BOOT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The company reported $1.22 earnings per share for the quarter, missing the consensus estimate of $1.24 by ($0.02). The business had revenue of $453.75 million for 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 was up 16.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.96 earnings per share. On average, research analysts predict that Boot Barn Holdings, Inc. will post 5.82 earnings per share for the current fiscal year.

Boot Barn announced that its board has initiated a stock buyback program on Wednesday, May 14th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 4.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company's management believes its stock is undervalued.

Insider Transactions at Boot Barn

In other Boot Barn news, 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 transaction, the insider now owns 14,593 shares of the company's stock, valued at $2,344,657.31. The trade was a 14.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Michael A. Love sold 4,154 shares of the 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 sale, the insider now directly owns 2,112 shares of the company's stock, valued at approximately $328,078.08. The trade was a 66.29% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company's stock.

Boot Barn Profile

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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