Intech Investment Management LLC Grows Stock Position in Boot Barn Holdings, Inc. (NYSE:BOOT)

Intech Investment Management LLC boosted its stake in Boot Barn Holdings, Inc. (NYSE:BOOT) by 116.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,808 shares of the company’s stock after acquiring an additional 10,661 shares during the quarter. Intech Investment Management LLC owned about 0.06% of Boot Barn worth $3,007,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. State Street Corp boosted its holdings in Boot Barn by 4.4% in the 3rd quarter. State Street Corp now owns 1,208,345 shares of the company’s stock worth $202,132,000 after acquiring an additional 51,356 shares during the period. Geode Capital Management LLC boosted its holdings in Boot Barn by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 676,277 shares of the company’s stock worth $113,150,000 after acquiring an additional 6,369 shares during the period. Franklin Resources Inc. boosted its holdings in Boot Barn by 1.0% in the 3rd quarter. Franklin Resources Inc. now owns 420,688 shares of the company’s stock worth $68,004,000 after acquiring an additional 4,226 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Boot Barn by 1.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 358,579 shares of the company’s stock worth $54,439,000 after acquiring an additional 5,881 shares during the period. Finally, Jennison Associates LLC boosted its stake in shares of Boot Barn by 92.3% during the 4th quarter. Jennison Associates LLC now owns 340,550 shares of the company’s stock valued at $51,702,000 after buying an additional 163,451 shares during the last quarter.

Analyst Upgrades and Downgrades

BOOT has been the subject of several research analyst reports. UBS Group reduced their target price on Boot Barn from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. Piper Sandler reiterated an “overweight” rating and set a $181.00 target price (up from $179.00) on shares of Boot Barn in a research note on Friday, January 31st. BTIG Research increased their target price on Boot Barn from $185.00 to $190.00 and gave the company a “buy” rating in a research note on Monday, January 13th. StockNews.com cut Boot Barn from a “hold” rating to a “sell” rating in a research note on Monday, February 17th. Finally, KeyCorp upgraded Boot Barn from a “sector weight” rating to an “overweight” rating and set a $190.00 target price for the company in a research note on Thursday, January 23rd. One research analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Boot Barn currently has an average rating of “Moderate Buy” and a consensus target price of $181.92.

Boot Barn Price Performance

Shares of BOOT opened at $105.21 on Thursday. Boot Barn Holdings, Inc. has a 12-month low of $84.28 and a 12-month high of $176.64. The business’s fifty day moving average price is $136.59 and its 200 day moving average price is $144.98. The stock has a market capitalization of $3.22 billion, a PE ratio of 18.79, a price-to-earnings-growth ratio of 1.17 and a beta of 2.07.

Boot Barn (NYSE:BOOT) last issued its earnings results on Thursday, January 30th. The company reported $2.43 earnings per share for the quarter, topping the consensus estimate of $2.05 by $0.38. Boot Barn had a return on equity of 17.11% and a net margin of 9.36%. As a group, research analysts anticipate that Boot Barn Holdings, Inc. will post 5.82 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO John Hazen sold 6,311 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $152.98, for a total transaction of $965,456.78. Following the transaction, the chief executive officer now directly owns 3,937 shares of the company’s stock, valued at approximately $602,282.26. This trade represents a 61.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is owned by corporate insiders.

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.