2,196 Shares in Boot Barn Holdings, Inc. (NYSE:BOOT) Acquired by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC bought a new stake in shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The fund bought 2,196 shares of the company's stock, valued at approximately $236,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in Boot Barn by 2.2% during the 4th quarter. Vanguard Group Inc. now owns 3,409,865 shares of the company's stock valued at $517,686,000 after purchasing an additional 73,089 shares in the last quarter. FMR LLC grew its holdings in Boot Barn by 47.3% during the 4th quarter. FMR LLC now owns 2,211,300 shares of the company's stock worth $335,720,000 after acquiring an additional 709,903 shares during the last quarter. Wellington Management Group LLP increased its position in Boot Barn by 48.6% in the 4th quarter. Wellington Management Group LLP now owns 2,161,052 shares of the company's stock valued at $328,091,000 after acquiring an additional 706,518 shares in the last quarter. Capital Research Global Investors raised its stake in shares of Boot Barn by 32.6% in the fourth quarter. Capital Research Global Investors now owns 1,141,821 shares of the company's stock worth $173,351,000 after acquiring an additional 280,892 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its position in shares of Boot Barn by 13.2% during the fourth quarter. Alliancebernstein L.P. now owns 846,983 shares of the company's stock worth $128,589,000 after purchasing an additional 99,029 shares in the last quarter.

Analyst Ratings Changes

BOOT has been the topic of several recent research reports. Robert W. Baird raised their price target on Boot Barn from $140.00 to $180.00 and gave the stock an "outperform" rating in a research report on Thursday, May 15th. Stephens initiated coverage on shares of Boot Barn in a research note on Wednesday, April 9th. They set an "overweight" rating and a $100.00 price target for the company. JPMorgan Chase & Co. raised their price objective on shares of Boot Barn from $196.00 to $207.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 27th. KeyCorp increased their target price on Boot Barn from $180.00 to $195.00 and gave the stock an "overweight" rating in a research note on Tuesday. Finally, Bank of America boosted their price target on Boot Barn from $160.00 to $173.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, Boot Barn has an average rating of "Moderate Buy" and a consensus target price of $176.17.

Boot Barn Stock Up 1.3%

NYSE:BOOT traded up $2.22 during trading hours on Tuesday, reaching $176.08. The company had a trading volume of 709,323 shares, compared to its average volume of 810,055. Boot Barn Holdings, Inc. has a twelve month low of $86.17 and a twelve month high of $178.61. The firm has a market cap of $5.39 billion, a price-to-earnings ratio of 30.05, a P/E/G ratio of 2.00 and a beta of 1.69. The business's 50-day simple moving average is $160.21 and its two-hundred day simple moving average is $136.34.

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

Boot Barn announced that its board has initiated a stock repurchase plan on Wednesday, May 14th that allows the company to repurchase $200.00 million in outstanding shares. This repurchase authorization allows the company to buy up to 4.8% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at Boot Barn

In related news, insider Michael A. Love sold 4,154 shares of the business's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $155.34, for a total transaction of $645,282.36. Following the transaction, the insider directly owned 2,112 shares in the company, valued at approximately $328,078.08. The trade was a 66.29% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Laurie Marie Grijalva sold 2,438 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $160.67, for a total value of $391,713.46. Following the completion of the transaction, the insider directly owned 14,593 shares of the company's stock, valued at approximately $2,344,657.31. This represents a 14.32% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.