Wellington Management Group LLP Grows Position in Boot Barn Holdings, Inc. $BOOT

Key Points

• Wellington Management increased its Boot Barn stake by 12.2% in the second quarter, adding 84,250 shares to hold 773,749 shares worth approximately $127.1 million, or 2.56% of the company.
• Boot Barn reported strong quarterly results, with EPS of $2.29 beating estimates of $1.69 and revenue rising 17.7% year over year to $593.5 million.
• Shares opened at $148.86, down 1.2%, while analysts maintained a broadly positive outlook: the stock carries a consensus “Buy” rating and an average price target of $219.55.

Wellington Management Group LLP grew its holdings in shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 12.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 773,749 shares of the company's stock after acquiring an additional 84,250 shares during the quarter. Wellington Management Group LLP owned about 2.56% of Boot Barn worth $127,104,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. IFP Advisors Inc raised its stake in Boot Barn by 7.2% in the fourth quarter. IFP Advisors Inc now owns 942 shares of the company's stock valued at $166,000 after purchasing an additional 63 shares in the last quarter. Cynosure Group LLC increased its holdings in shares of Boot Barn by 3.3% in the 4th quarter. Cynosure Group LLC now owns 2,435 shares of the company's stock worth $430,000 after buying an additional 78 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of Boot Barn by 20.7% during the 4th quarter. Farther Finance Advisors LLC now owns 496 shares of the company's stock valued at $88,000 after buying an additional 85 shares in the last quarter. State of Wisconsin Investment Board raised its position in shares of Boot Barn by 0.3% during the 4th quarter. State of Wisconsin Investment Board now owns 33,374 shares of the company's stock valued at $5,890,000 after buying an additional 89 shares in the last quarter. Finally, MML Investors Services LLC lifted its holdings in shares of Boot Barn by 2.2% during the 2nd quarter. MML Investors Services LLC now owns 4,262 shares of the company's stock worth $648,000 after acquiring an additional 93 shares during the last quarter.

Boot Barn Trading Down 1.2%

Shares of NYSE:BOOT opened at $148.86 on Wednesday. The stock has a market capitalization of $4.51 billion, a P/E ratio of 18.84, a price-to-earnings-growth ratio of 0.97 and a beta of 1.71. The stock's 50-day moving average price is $159.30 and its 200-day moving average price is $163.63. Boot Barn Holdings, Inc. has a 12-month low of $133.18 and a 12-month high of $210.25.

Boot Barn (NYSE:BOOT - Get Free Report) last released its earnings results on Wednesday, July 29th. The company reported $2.29 earnings per share for the quarter, beating analysts' consensus estimates of $1.69 by $0.60. Boot Barn had a return on equity of 18.78% and a net margin of 10.35%.The company had revenue of $593.51 million during the quarter, compared to analyst estimates of $583.15 million. During the same quarter in the previous year, the company posted $1.74 EPS. Boot Barn's revenue for the quarter was up 17.7% on a year-over-year basis. 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. As a group, research analysts predict that Boot Barn Holdings, Inc. will post 9.18 EPS for the current year.

Analysts Set New Price Targets

BOOT has been the subject of several research reports. Piper Sandler cut their target price on shares of Boot Barn from $230.00 to $226.00 and set an "overweight" rating for the company in a research report on Friday, May 15th. TD Cowen dropped their price target on Boot Barn from $225.00 to $190.00 and set a "buy" rating for the company in a research note on Thursday, July 30th. Bank of America reduced their price objective on Boot Barn from $224.00 to $206.00 and set a "buy" rating on the stock in a research report on Friday, May 15th. Robert W. Baird set a $212.00 price objective on Boot Barn in a report on Thursday, July 30th. Finally, Stephens upped their target price on Boot Barn from $196.00 to $207.00 and gave the stock an "overweight" rating in a research note on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average 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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