Graham Capital Management L.P. Has $259,000 Stake in Boot Barn Holdings, Inc. (NYSE:BOOT)

Graham Capital Management L.P. decreased its position in Boot Barn Holdings, Inc. (NYSE:BOOT) by 51.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,707 shares of the company’s stock after selling 1,816 shares during the quarter. Graham Capital Management L.P.’s holdings in Boot Barn were worth $259,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of BOOT. Signaturefd LLC increased its position in shares of Boot Barn by 201.8% in the fourth quarter. Signaturefd LLC now owns 166 shares of the company’s stock valued at $25,000 after acquiring an additional 111 shares during the last quarter. Blue Trust Inc. increased its position in shares of Boot Barn by 1,430.0% in the fourth quarter. Blue Trust Inc. now owns 153 shares of the company’s stock valued at $26,000 after acquiring an additional 143 shares during the last quarter. Assetmark Inc. increased its position in shares of 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 last quarter. R Squared Ltd acquired a new stake in shares of Boot Barn in the fourth quarter valued at about $102,000. Finally, Smartleaf Asset Management LLC increased its position in shares of Boot Barn by 212.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 749 shares of the company’s stock valued at $115,000 after acquiring an additional 509 shares during the last quarter.

Boot Barn Stock Up 1.3%

Shares of NYSE:BOOT opened at $156.99 on Friday. Boot Barn Holdings, Inc. has a 12-month low of $86.17 and a 12-month high of $176.64. The stock has a market cap of $4.80 billion, a PE ratio of 28.03, a P/E/G ratio of 1.17 and a beta of 1.59. The business has a 50 day moving average of $107.05 and a 200-day moving average of $130.04.

Boot Barn (NYSE:BOOT) last issued its quarterly earnings data on Wednesday, May 14th. The company reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.02). Boot Barn had a return on equity of 17.11% and a net margin of 9.36%. The firm had revenue of $453.75 million for the quarter, compared to the consensus estimate of $458.56 million. Equities research analysts expect that Boot Barn Holdings, Inc. will post 5.82 earnings per share for the current year.

Boot Barn announced that its board has authorized 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 purchase up to 4.8% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their target price on Boot Barn from $209.00 to $196.00 and set an “overweight” rating on the stock in a research report on Thursday. Piper Sandler lifted their target price on Boot Barn from $162.00 to $184.00 and gave the company an “overweight” rating in a research report on Thursday. Bank of America lifted their price target on Boot Barn from $160.00 to $173.00 and gave the stock a “buy” rating in a report on Thursday. Craig Hallum upgraded Boot Barn from a “hold” rating to a “buy” rating and set a $130.00 price target for the company in a report on Wednesday, April 23rd. Finally, Citigroup lifted their price target on Boot Barn from $137.00 to $180.00 and gave the stock a “buy” rating in a report on Friday. One analyst has rated the stock with a sell rating, one has given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $170.62.

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.