Universal Beteiligungs und Servicegesellschaft mbH Sells 12,715 Shares of Boot Barn Holdings, Inc. (NYSE:BOOT)

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH has reduced its stake in Boot Barn Holdings, Inc. by 33.0%, selling 12,715 shares and retaining 25,846 shares, valued at approximately $2.78 million.
• Boot Barn's earnings per share for the recent quarter was $1.22, missing analysts' expectations of $1.24, while revenue reached $453.75 million, below the consensus estimate of $458.56 million.
• The company has approved a $200 million share buyback program, indicating the board's belief that its shares are undervalued, allowing for a repurchase of up to 4.8% of its outstanding shares.

Universal Beteiligungs und Servicegesellschaft mbH reduced its stake in Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 33.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 25,846 shares of the company's stock after selling 12,715 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH owned approximately 0.08% of Boot Barn worth $2,777,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BOOT. FMR LLC lifted its holdings in Boot Barn by 47.3% in the 4th quarter. FMR LLC now owns 2,211,300 shares of the company's stock worth $335,720,000 after purchasing an additional 709,903 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Boot Barn by 48.6% during the fourth quarter. Wellington Management Group LLP now owns 2,161,052 shares of the company's stock worth $328,091,000 after buying an additional 706,518 shares during the last quarter. Artemis Investment Management LLP lifted its holdings in shares of Boot Barn by 206.5% during the first quarter. Artemis Investment Management LLP now owns 734,023 shares of the company's stock worth $78,856,000 after buying an additional 494,523 shares during the last quarter. Capital Research Global Investors lifted its holdings in shares of Boot Barn by 32.6% during the fourth quarter. Capital Research Global Investors now owns 1,141,821 shares of the company's stock worth $173,351,000 after buying an additional 280,892 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in shares of Boot Barn during the fourth quarter worth approximately $42,440,000.

Boot Barn Stock Down 0.6%

Boot Barn stock traded down $0.98 during mid-day trading on Friday, hitting $170.92. 1,978,558 shares of the company were exchanged, compared to its average volume of 919,769. The business has a fifty day moving average of $164.40 and a 200 day moving average of $137.61. The company has a market capitalization of $5.23 billion, a PE ratio of 29.17, a price-to-earnings-growth ratio of 2.07 and a beta of 1.69. Boot Barn Holdings, Inc. has a 1-year low of $86.17 and a 1-year high of $183.60.

Boot Barn (NYSE:BOOT - Get Free Report) last announced its earnings results on Thursday, July 31st. The company reported $1.74 EPS for the quarter, topping the consensus estimate of $1.55 by $0.19. The company had revenue of $504.07 million for the quarter, compared to analysts' expectations of $489.49 million. Boot Barn had a return on equity of 16.98% and a net margin of 9.47%. The business's revenue for the quarter was up 19.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.26 earnings per share. Research analysts expect 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 initiated a share buyback program on Wednesday, May 14th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to buy up to 4.8% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling at Boot Barn

In related news, insider Laurie Marie Grijalva sold 2,438 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $160.67, for a total value of $391,713.46. Following the transaction, the insider owned 14,593 shares in the company, valued at $2,344,657.31. This trade represents a 14.32% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael A. Love sold 4,154 shares of the firm's stock in a transaction dated 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 owned 2,112 shares in the company, valued at approximately $328,078.08. This represents a 66.29% decrease in their position. The disclosure for this sale can be found here. 0.66% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on BOOT. JPMorgan Chase & Co. upped their price target on Boot Barn from $207.00 to $247.00 and gave the stock an "overweight" rating in a report on Monday. Piper Sandler upped their price target on Boot Barn from $184.00 to $185.00 and gave the stock an "overweight" rating in a report on Monday. UBS Group upped their target price on Boot Barn from $156.00 to $210.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Jefferies Financial Group lowered Boot Barn from a "buy" rating to a "hold" rating and cut their target price for the company from $187.00 to $175.00 in a research note on Wednesday, July 23rd. Finally, Cowen restated a "buy" rating on shares of Boot Barn in a research note on Monday. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $182.54.

Boot Barn Company 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.