Kennedy Capital Management LLC Acquires Shares of 2,412 Boot Barn Holdings, Inc. (NYSE:BOOT)

Kennedy Capital Management LLC bought a new position in Boot Barn Holdings, Inc. (NYSE:BOOT) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 2,412 shares of the company’s stock, valued at approximately $230,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Broad Bay Capital Management LP grew its holdings in Boot Barn by 25.0% during the 4th quarter. Broad Bay Capital Management LP now owns 400,000 shares of the company’s stock valued at $30,704,000 after buying an additional 80,000 shares in the last quarter. Louisiana State Employees Retirement System bought a new stake in Boot Barn during the fourth quarter valued at $1,167,000. Eagle Asset Management Inc. increased its stake in Boot Barn by 17.6% in the 4th quarter. Eagle Asset Management Inc. now owns 337,335 shares of the company’s stock worth $25,894,000 after acquiring an additional 50,577 shares during the last quarter. Prevail Innovative Wealth Advisors LLC grew its holdings in shares of Boot Barn by 60.0% during the fourth quarter. Prevail Innovative Wealth Advisors LLC now owns 28,522 shares of the company’s stock worth $2,189,000 after purchasing an additional 10,699 shares in the last quarter. Finally, UniSuper Management Pty Ltd bought a new position in shares of Boot Barn in the first quarter worth approximately $695,000.

Analyst Ratings Changes

Several research firms have recently weighed in on BOOT. Craig Hallum raised their price objective on shares of Boot Barn from $120.00 to $150.00 and gave the company a “buy” rating in a research report on Wednesday, June 5th. Piper Sandler increased their target price on shares of Boot Barn from $94.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. JPMorgan Chase & Co. increased their target price on Boot Barn from $125.00 to $146.00 and gave the company an “overweight” rating in a report on Monday, July 22nd. TD Cowen upped their price target on shares of Boot Barn from $120.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, June 5th. Finally, BTIG Research raised their price target on shares of Boot Barn from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, June 5th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $132.09.

Boot Barn Stock Down 4.5 %

Shares of BOOT stock opened at $127.52 on Friday. The business’s fifty day moving average is $125.67 and its 200 day moving average is $104.11. The stock has a market cap of $3.89 billion, a price-to-earnings ratio of 26.57 and a beta of 2.09. Boot Barn Holdings, Inc. has a twelve month low of $66.73 and a twelve month high of $137.48.

Boot Barn (NYSE:BOOT) last released its earnings results on Tuesday, May 14th. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.12. The firm had revenue of $388.46 million for the quarter, compared to analysts’ expectations of $383.67 million. Boot Barn had a return on equity of 16.84% and a net margin of 8.82%. Equities research analysts expect that Boot Barn Holdings, Inc. will post 5.03 earnings per share for the current fiscal year.

Insider Buying and Selling at Boot Barn

In other Boot Barn news, insider John Hazen sold 3,563 shares of the company’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $113.21, for a total transaction of $403,367.23. Following the transaction, the insider now owns 1,309 shares in the company, valued at approximately $148,191.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Brenda I. Morris sold 1,500 shares of the company’s stock in a transaction on Thursday, May 23rd. The stock was sold at an average price of $110.11, for a total value of $165,165.00. Following the completion of the sale, the director now directly owns 4,546 shares in the company, valued at approximately $500,560.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider John Hazen sold 3,563 shares of the business’s stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $113.21, for a total value of $403,367.23. Following the sale, the insider now directly owns 1,309 shares of the company’s stock, valued at approximately $148,191.89. The disclosure for this sale can be found here. In the last three months, insiders have sold 11,795 shares of company stock worth $1,329,686. Insiders own 2.20% of the company’s stock.

About Boot Barn

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.