Y Intercept Hong Kong Ltd Purchases New Holdings in Boot Barn Holdings, Inc. (NYSE:BOOT)

Y Intercept Hong Kong Ltd purchased a new stake in Boot Barn Holdings, Inc. (NYSE:BOOT) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 8,295 shares of the company’s stock, valued at approximately $891,000.

Several other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of Boot Barn by 2.2% in the 4th 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 in the last quarter. FMR LLC lifted its position in Boot Barn by 47.3% in the 4th quarter. FMR LLC now owns 2,211,300 shares of the company’s stock worth $335,720,000 after buying an additional 709,903 shares in the last quarter. Wellington Management Group LLP lifted its position in Boot Barn by 48.6% in the 4th quarter. Wellington Management Group LLP now owns 2,161,052 shares of the company’s stock worth $328,091,000 after buying an additional 706,518 shares in the last quarter. Capital Research Global Investors lifted its position in 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 buying an additional 280,892 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its position in Boot Barn by 13.2% in the 4th quarter. Alliancebernstein L.P. now owns 846,983 shares of the company’s stock worth $128,589,000 after buying an additional 99,029 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Boot Barn from $196.00 to $207.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 27th. Stephens assumed coverage on shares of Boot Barn in a research report on Wednesday, April 9th. They issued an “overweight” rating and a $100.00 target price for the company. Robert W. Baird increased their target price on shares of Boot Barn from $140.00 to $180.00 and gave the stock an “outperform” rating in a research report on Thursday, May 15th. Jefferies Financial Group downgraded shares of Boot Barn from a “buy” rating to a “hold” rating and cut their target price for the stock from $187.00 to $175.00 in a research report on Wednesday. Finally, UBS Group increased their target price on shares of Boot Barn from $156.00 to $210.00 and gave the stock a “buy” rating in a research report on Thursday, May 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Boot Barn currently has a consensus rating of “Moderate Buy” and a consensus price target of $176.08.

Insider Buying and Selling at Boot Barn

In related news, insider Laurie Marie Grijalva sold 2,438 shares of Boot Barn stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $160.67, for a total value of $391,713.46. Following the transaction, the insider owned 14,593 shares in the company, valued at $2,344,657.31. This trade represents a 14.32% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael A. Love sold 4,154 shares of Boot Barn stock in a transaction 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 completion of the transaction, the insider owned 2,112 shares in the company, valued at $328,078.08. This trade represents a 66.29% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.00% of the company’s stock.

Boot Barn Trading Up 3.9%

Boot Barn stock opened at $174.03 on Friday. The company has a market capitalization of $5.32 billion, a P/E ratio of 29.70, a P/E/G ratio of 1.97 and a beta of 1.69. Boot Barn Holdings, Inc. has a 1-year low of $86.17 and a 1-year high of $178.92. The firm’s fifty day simple moving average is $163.17 and its 200-day simple moving average is $137.13.

Boot Barn (NYSE:BOOT) last announced its earnings results on Wednesday, May 14th. The company reported $1.22 EPS for the quarter, missing the consensus estimate of $1.24 by ($0.02). The firm had revenue of $453.75 million during the quarter, compared to the consensus estimate of $458.56 million. Boot Barn had a return on equity of 16.98% and a net margin of 9.47%. The business’s revenue was up 16.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.96 EPS. On average, equities research analysts predict that Boot Barn Holdings, Inc. will post 5.82 earnings per share for the current year.

Boot Barn declared that its Board of Directors has approved a stock repurchase program on Wednesday, May 14th that permits the company to repurchase $200.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 4.8% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is 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.