Boot Barn Holdings, Inc. (NYSE:BOOT) Shares Sold by Heritage Family Offices LLP

Heritage Family Offices LLP decreased its holdings in shares of Boot Barn Holdings, Inc. (NYSE:BOOT) by 8.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,047 shares of the company’s stock after selling 183 shares during the quarter. Heritage Family Offices LLP’s holdings in Boot Barn were worth $220,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in BOOT. Blue Trust Inc. raised its position in shares of Boot Barn by 1,430.0% in the 4th quarter. Blue Trust Inc. now owns 153 shares of the company’s stock valued at $26,000 after purchasing an additional 143 shares in the last quarter. Signaturefd LLC raised its holdings in shares of Boot Barn by 201.8% during the fourth quarter. Signaturefd LLC now owns 166 shares of the company’s stock worth $25,000 after purchasing an additional 111 shares during the period. Versant Capital Management Inc raised its stake in Boot Barn by 210.8% during the first quarter. Versant Capital Management Inc now owns 317 shares of the company’s stock worth $34,000 after acquiring an additional 215 shares during the period. Assetmark Inc. boosted its stake in Boot Barn by 45.2% in the fourth quarter. Assetmark Inc. now owns 363 shares of the company’s stock valued at $55,000 after acquiring an additional 113 shares during the period. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Boot Barn by 212.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 749 shares of the company’s stock valued at $115,000 after purchasing an additional 509 shares during the last quarter.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BOOT. KeyCorp cut their price target on Boot Barn from $190.00 to $165.00 and set an “overweight” rating on the stock in a report on Tuesday, April 29th. Wall Street Zen lowered shares of Boot Barn from a “hold” rating to a “sell” rating in a research report on Monday, February 17th. Craig Hallum upgraded shares of Boot Barn from a “hold” rating to a “buy” rating and set a $130.00 target price for the company in a research report on Wednesday, April 23rd. Citigroup increased their price objective on Boot Barn from $137.00 to $180.00 and gave the stock a “buy” rating in a report on Friday, May 16th. Finally, Stephens initiated coverage on Boot Barn in a report on Wednesday, April 9th. They issued an “overweight” rating and a $100.00 price objective for the company. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $171.46.

Boot Barn Stock Up 2.8%

NYSE:BOOT opened at $161.95 on Wednesday. The business’s 50-day moving average price is $120.12 and its 200 day moving average price is $132.42. The firm has a market cap of $4.95 billion, a P/E ratio of 28.92, a PEG ratio of 1.17 and a beta of 1.59. 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 announced its quarterly earnings data on Wednesday, May 14th. The company reported $1.22 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.24 by ($0.02). The business had revenue of $453.75 million during the quarter, compared to analyst estimates of $458.56 million. Boot Barn had a return on equity of 17.11% and a net margin of 9.36%. The business’s revenue for the quarter was up 16.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.96 EPS. Sell-side analysts expect that Boot Barn Holdings, Inc. will post 5.82 EPS for the current year.

Boot Barn declared that its board has authorized a share buyback program on Wednesday, May 14th that permits the company to buyback $200.00 million in shares. This buyback authorization permits the company to buy up to 4.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In related news, insider Michael A. Love sold 4,154 shares of the business’s stock in a transaction that occurred on 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 now directly owns 2,112 shares of the company’s stock, valued at approximately $328,078.08. The trade was a 66.29% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Laurie Marie Grijalva sold 2,438 shares of the business’s 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. 1.00% of the stock is currently owned by company 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.