Insider Selling: Boot Barn Holdings, Inc. (NYSE:BOOT) Insider Sells 2,438 Shares of Stock

Boot Barn Holdings, Inc. (NYSE:BOOT) insider Laurie Marie Grijalva sold 2,438 shares of Boot Barn stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $160.67, for a total value of $391,713.46. Following the completion of the transaction, the insider now owns 14,593 shares of the company’s stock, valued at approximately $2,344,657.31. This trade represents a 14.32% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link.

Boot Barn Stock Up 1.1%

Shares of NYSE:BOOT opened at $159.10 on Friday. The company has a market capitalization of $4.87 billion, a price-to-earnings ratio of 28.41, a price-to-earnings-growth ratio of 1.17 and a beta of 1.59. The firm has a 50 day moving average of $111.67 and a 200 day moving average of $130.95. Boot Barn Holdings, Inc. has a 52 week low of $86.17 and a 52 week high of $176.64.

Boot Barn (NYSE:BOOT) last issued its quarterly earnings data on Wednesday, May 14th. The company reported $1.22 earnings per share for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.02). Boot Barn had a net margin of 9.36% and a return on equity of 17.11%. The company had revenue of $453.75 million for the quarter, compared to the consensus estimate of $458.56 million. During the same period in the previous year, the business earned $0.96 EPS. Boot Barn’s revenue for the quarter was up 16.8% compared to the same quarter last year. On average, sell-side analysts expect that Boot Barn Holdings, Inc. will post 5.82 EPS for the current year.

Boot Barn announced that its board has authorized a share repurchase plan on Wednesday, May 14th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to purchase up to 4.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board believes its shares are undervalued.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of BOOT. Vanguard Group Inc. lifted its position in Boot Barn by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 3,409,865 shares of the company’s stock valued at $517,686,000 after acquiring an additional 73,089 shares during the last quarter. FMR LLC lifted its holdings in shares of Boot Barn by 47.3% during the 4th quarter. FMR LLC now owns 2,211,300 shares of the company’s stock valued at $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 4th quarter. Wellington Management Group LLP now owns 2,161,052 shares of the company’s stock valued at $328,091,000 after purchasing an additional 706,518 shares during the last quarter. Capital Research Global Investors boosted its position in shares of Boot Barn by 32.6% in the 4th quarter. Capital Research Global Investors now owns 1,141,821 shares of the company’s stock worth $173,351,000 after purchasing an additional 280,892 shares in the last quarter. Finally, Invesco Ltd. grew its stake in Boot Barn by 24.8% during the 1st quarter. Invesco Ltd. now owns 903,453 shares of the company’s stock worth $97,058,000 after buying an additional 179,710 shares during the last quarter.

Wall Street Analyst Weigh In

BOOT has been the subject of a number of analyst 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. JPMorgan Chase & Co. lowered their target price on shares of Boot Barn from $209.00 to $196.00 and set an “overweight” rating for the company in a report on Thursday, May 15th. Wall Street Zen downgraded shares of Boot Barn from a “hold” rating to a “sell” rating in a report on Monday, February 17th. Citigroup increased their price objective on shares of Boot Barn from $137.00 to $180.00 and gave the stock a “buy” rating in a research report on Friday, May 16th. Finally, KeyCorp dropped their target price on Boot Barn from $190.00 to $165.00 and set an “overweight” rating for the company in a research report on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $170.62.

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.