Wedge Capital Management L L P NC Purchases 15,074 Shares of Boot Barn Holdings, Inc. $BOOT

Key Points

• Wedge Capital Management increased its Boot Barn stake by 7.6% in the second quarter, purchasing 15,074 additional shares and bringing its holdings to 212,327 shares valued at approximately $34.9 million.
• Boot Barn reported quarterly results above expectations, with earnings per share of $2.29 versus the $1.69 consensus and revenue of $593.5 million, up 17.7% year over year.
• Despite shares trading down 1.5% at $166.09, analyst sentiment remains positive: Boot Barn has a consensus “Buy” rating and an average price target of $219.55.

Wedge Capital Management L L P NC grew its position in shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 7.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 212,327 shares of the company's stock after buying an additional 15,074 shares during the quarter. Wedge Capital Management L L P NC owned 0.70% of Boot Barn worth $34,879,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Arrowstreet Capital Limited Partnership increased its position in shares of Boot Barn by 361.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 48,448 shares of the company's stock valued at $7,091,000 after purchasing an additional 37,951 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Boot Barn by 11.4% in the fourth quarter. Principal Financial Group Inc. now owns 393,098 shares of the company's stock valued at $69,370,000 after acquiring an additional 40,282 shares during the last quarter. UBS Group AG grew its position in shares of Boot Barn by 16.4% during the 4th quarter. UBS Group AG now owns 172,380 shares of the company's stock valued at $30,420,000 after acquiring an additional 24,229 shares during the period. Asset Management One Co. Ltd. bought a new stake in shares of Boot Barn in the 4th quarter worth approximately $2,644,000. Finally, Fifth Third Bancorp increased its position in Boot Barn by 15,768.5% in the first quarter. Fifth Third Bancorp now owns 34,276 shares of the company's stock worth $5,017,000 after buying an additional 34,060 shares during the last quarter.

Boot Barn Trading Down 1.5%

BOOT stock opened at $166.09 on Wednesday. Boot Barn Holdings, Inc. has a 12 month low of $133.18 and a 12 month high of $210.25. The firm has a market capitalization of $5.03 billion, a P/E ratio of 21.02, a price-to-earnings-growth ratio of 1.08 and a beta of 1.71. The firm has a 50 day moving average of $162.32 and a 200-day moving average of $166.39.

Boot Barn (NYSE:BOOT - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.60. The firm had revenue of $593.51 million for the quarter, compared to analysts' expectations of $583.15 million. Boot Barn had a net margin of 10.35% and a return on equity of 18.78%. The business's quarterly revenue was up 17.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.74 earnings per share. Boot Barn has set its FY 2027 guidance at 8.800-9.230 EPS and its Q2 2027 guidance at 1.550-1.650 EPS. Sell-side analysts predict that Boot Barn Holdings, Inc. will post 9.18 EPS for the current year.

Analyst Ratings Changes

Several analysts have issued reports on the company. UBS Group set a $225.00 target price on Boot Barn in a research note on Wednesday, June 17th. Citigroup reiterated a "buy" rating on shares of Boot Barn in a research note on Monday, May 4th. Stephens boosted their price objective on Boot Barn from $196.00 to $207.00 and gave the company an "overweight" rating in a research note on Monday. Zacks Research raised shares of Boot Barn from a "hold" rating to a "strong-buy" rating in a report on Monday, August 3rd. Finally, TD Cowen cut their target price on shares of Boot Barn from $225.00 to $190.00 and set a "buy" rating for the company in a research report on Thursday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $219.55.

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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