Boot Barn Holdings, Inc. (NYSE:BOOT) Stake Lifted by Azzad Asset Management Inc. ADV

Azzad Asset Management Inc. ADV increased its position in shares of Boot Barn Holdings, Inc. (NYSE:BOOT) by 65.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,520 shares of the company’s stock after acquiring an additional 6,149 shares during the period. Azzad Asset Management Inc. ADV owned approximately 0.05% of Boot Barn worth $2,356,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in BOOT. Stephens Investment Management Group LLC acquired a new stake in shares of Boot Barn during the fourth quarter valued at approximately $46,699,000. Alberta Investment Management Corp purchased a new position in Boot Barn during the fourth quarter valued at approximately $2,842,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Boot Barn by 1.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 358,579 shares of the company’s stock valued at $54,439,000 after buying an additional 5,881 shares during the period. Raymond James Financial Inc. acquired a new stake in shares of Boot Barn during the 4th quarter valued at $42,440,000. Finally, TimesSquare Capital Management LLC raised its holdings in shares of Boot Barn by 134.5% during the fourth quarter. TimesSquare Capital Management LLC now owns 289,641 shares of the company’s stock worth $43,973,000 after acquiring an additional 166,121 shares in the last quarter.

Boot Barn Stock Down 1.5%

Shares of BOOT stock opened at $157.26 on Monday. The stock’s fifty day simple moving average is $112.77 and its 200 day simple moving average is $131.14. The firm has a market capitalization of $4.81 billion, a P/E ratio of 28.08, a P/E/G ratio of 1.17 and a beta of 1.59. Boot Barn Holdings, Inc. has a twelve month low of $86.17 and a twelve month high of $176.64.

Boot Barn (NYSE:BOOT) last released its earnings results 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). The firm had revenue of $453.75 million for the quarter, compared to analyst estimates of $458.56 million. Boot Barn had a net margin of 9.36% and a return on equity of 17.11%. The business’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.96 EPS. As a group, equities research analysts expect that Boot Barn Holdings, Inc. will post 5.82 EPS for the current fiscal year.

Boot Barn declared that its Board of Directors has initiated a share repurchase plan on Wednesday, May 14th that allows the company to repurchase $200.00 million in shares. This repurchase authorization allows the company to buy up to 4.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on BOOT shares. UBS Group boosted their price objective on Boot Barn from $156.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. Bank of America upped their target price on shares of Boot Barn from $160.00 to $173.00 and gave the company a “buy” rating in a research note on Thursday, May 15th. Citigroup increased their price objective on Boot Barn from $137.00 to $180.00 and gave the stock a “buy” rating in a research note on Friday, May 16th. JPMorgan Chase & Co. cut their target price on shares of Boot Barn from $209.00 to $196.00 and set an “overweight” rating for the company in a research note on Thursday, May 15th. Finally, Piper Sandler upped their price target on shares of Boot Barn from $162.00 to $184.00 and gave the stock an “overweight” rating in a research report on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $170.62.

Insider Activity at Boot Barn

In related news, insider Laurie Marie Grijalva sold 2,438 shares of the company’s stock in a transaction on Thursday, May 22nd. The stock was sold at an average price of $160.67, for a total transaction of $391,713.46. Following the completion of the sale, the insider now owns 14,593 shares in the company, valued at approximately $2,344,657.31. This represents a 14.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.00% of the stock is owned by corporate insiders.

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.