California State Teachers Retirement System Sells 240 Shares of Boot Barn Holdings, Inc. (NYSE:BOOT)

California State Teachers Retirement System decreased its stake in shares of Boot Barn Holdings, Inc. (NYSE:BOOT) by 0.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 28,457 shares of the company’s stock after selling 240 shares during the quarter. California State Teachers Retirement System owned 0.09% of Boot Barn worth $4,320,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in BOOT. Signaturefd LLC increased its holdings in shares of Boot Barn by 201.8% during the 4th quarter. Signaturefd LLC now owns 166 shares of the company’s stock worth $25,000 after purchasing an additional 111 shares during the period. Blue Trust Inc. increased its holdings in shares of Boot Barn by 1,430.0% during the 4th quarter. Blue Trust Inc. now owns 153 shares of the company’s stock worth $26,000 after purchasing an additional 143 shares during the period. Assetmark Inc. increased its holdings in shares of Boot Barn by 45.2% during the 4th quarter. Assetmark Inc. now owns 363 shares of the company’s stock worth $55,000 after purchasing an additional 113 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of Boot Barn by 212.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 749 shares of the company’s stock worth $115,000 after purchasing an additional 509 shares during the period. Finally, Huntington National Bank increased its holdings in shares of Boot Barn by 54.5% during the 4th quarter. Huntington National Bank now owns 794 shares of the company’s stock worth $121,000 after purchasing an additional 280 shares during the period.

Insiders Place Their Bets

In other news, insider Laurie Marie Grijalva sold 2,438 shares of the company’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $160.67, for a total transaction of $391,713.46. Following the transaction, the insider now directly 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael A. Love sold 4,154 shares of the company’s stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $155.34, for a total transaction of $645,282.36. Following the transaction, the insider now owns 2,112 shares in the company, valued at $328,078.08. The trade was a 66.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on BOOT shares. Wall Street Zen downgraded shares of Boot Barn from a “hold” rating to a “sell” rating in a report on Monday, February 17th. Piper Sandler upped their target price on shares of Boot Barn from $162.00 to $184.00 and gave the company an “overweight” rating in a research note on Thursday, May 15th. Stephens assumed coverage on shares of Boot Barn in a research note on Wednesday, April 9th. They issued an “overweight” rating and a $100.00 target price on the stock. JPMorgan Chase & Co. upped their target price on shares of Boot Barn from $196.00 to $207.00 and gave the company an “overweight” rating in a research note on Tuesday, May 27th. Finally, KeyCorp lowered their target price on shares of Boot Barn from $190.00 to $165.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 29th. One analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $171.46.

Boot Barn Trading Up 2.8%

Shares of Boot Barn stock opened at $161.95 on Wednesday. The stock has a market capitalization of $4.95 billion, a price-to-earnings ratio of 28.92, a P/E/G ratio of 1.17 and a beta of 1.59. Boot Barn Holdings, Inc. has a 1-year low of $86.17 and a 1-year high of $176.64. The firm’s 50-day moving average price is $120.12 and its two-hundred day moving average price is $132.42.

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 the consensus estimate of $1.24 by ($0.02). The firm had revenue of $453.75 million for the quarter, compared to the consensus estimate of $458.56 million. Boot Barn had a return on equity of 17.11% and a net margin of 9.36%. Boot Barn’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.96 earnings per share. As a group, equities research analysts predict that Boot Barn Holdings, Inc. will post 5.82 EPS for the current year.

Boot Barn declared that its Board of Directors has initiated a share buyback program on Wednesday, May 14th that authorizes the company to buyback $200.00 million in outstanding shares. This buyback authorization authorizes the company to repurchase up to 4.8% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its shares are undervalued.

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.