Wellington Management Group LLP Boosts Stock Position in Boot Barn Holdings, Inc. $BOOT

Wellington Management Group LLP increased its holdings in Boot Barn Holdings, Inc. (NYSE:BOOT) by 12.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 773,749 shares of the company’s stock after purchasing an additional 84,250 shares during the quarter. Wellington Management Group LLP’s holdings in Boot Barn were worth $127,104,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of BOOT. Empowered Funds LLC bought a new stake in Boot Barn in the second quarter valued at $319,000. Caitlin John LLC bought a new position in Boot Barn in the second quarter worth $369,000. Equitable Holdings Inc. purchased a new position in Boot Barn during the second quarter valued at $232,000. Public Employees Retirement System of Ohio purchased a new position in Boot Barn during the second quarter valued at $6,209,000. Finally, Capstone Investment Advisors LLC bought a new stake in shares of Boot Barn during the 2nd quarter valued at $894,000.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on BOOT. Stephens increased their price target on shares of Boot Barn from $196.00 to $207.00 and gave the stock an “overweight” rating in a research note on Monday, August 10th. TD Cowen cut their price objective on shares of Boot Barn from $225.00 to $190.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Bank of America decreased their target price on shares of Boot Barn from $224.00 to $206.00 and set a “buy” rating for the company in a research note on Friday, May 15th. UBS Group set a $225.00 price target on Boot Barn in a research report on Wednesday, June 17th. Finally, Piper Sandler cut their price target on Boot Barn from $230.00 to $226.00 and set an “overweight” rating on the stock in a research note on Friday, May 15th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, Boot Barn currently has an average rating of “Buy” and an average price target of $219.55.

Boot Barn Stock Performance

Shares of BOOT stock opened at $148.86 on Wednesday. The company has a market capitalization of $4.51 billion, a price-to-earnings ratio of 18.84, a price-to-earnings-growth ratio of 0.97 and a beta of 1.71. Boot Barn Holdings, Inc. has a one year low of $133.18 and a one year high of $210.25. The company’s 50-day moving average is $159.30 and its 200 day moving average is $163.63.

Boot Barn (NYSE:BOOT) last issued its earnings results on Wednesday, July 29th. The company reported $2.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.60. Boot Barn had a net margin of 10.35% and a return on equity of 18.78%. The business had revenue of $593.51 million during the quarter, compared to analysts’ expectations of $583.15 million. During the same period in the previous year, the company earned $1.74 earnings per share. The business’s revenue for the quarter was up 17.7% compared to the same quarter last year. Boot Barn has set its FY 2027 guidance at 8.800-9.230 EPS and its Q2 2027 guidance at 1.550-1.650 EPS. As a group, research analysts predict that Boot Barn Holdings, Inc. will post 9.18 earnings per share for the current fiscal year.

About Boot Barn

Boot Barn, Inc is a leading specialty retailer focused on western and work-related footwear, apparel and accessories. The company operates full-price and outlet retail stores under the Boot Barn and BootBarn.com brands, offering a wide assortment of cowboy boots, work boots, casual and fashion footwear, western and work apparel, hats, belts and related accessories. In addition to its brick-and-mortar network, Boot Barn maintains an e-commerce platform to serve customers seeking ranch-and-rodeo style clothing and rugged workwear from coast to coast.

Founded in 1978 in Southern California, Boot Barn began as a single store catering to ranchers, farmworkers and western enthusiasts.