Goldman Sachs Group Inc. Grows Stake in Boot Barn Holdings, Inc. (NYSE:BOOT)

Goldman Sachs Group Inc. raised its position in shares of Boot Barn Holdings, Inc. (NYSE:BOOT) by 35.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 700,007 shares of the company’s stock after purchasing an additional 182,130 shares during the quarter. Goldman Sachs Group Inc.’s holdings in Boot Barn were worth $53,733,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in BOOT. Wellington Management Group LLP increased its holdings in Boot Barn by 150.4% during the third quarter. Wellington Management Group LLP now owns 897,896 shares of the company’s stock valued at $72,900,000 after buying an additional 539,296 shares during the last quarter. Westwood Holdings Group Inc. purchased a new stake in shares of Boot Barn in the 4th quarter worth $32,361,000. American Century Companies Inc. bought a new position in Boot Barn in the 3rd quarter worth $23,028,000. Trexquant Investment LP raised its holdings in Boot Barn by 1,207.6% in the 4th quarter. Trexquant Investment LP now owns 143,893 shares of the company’s stock worth $11,045,000 after purchasing an additional 132,889 shares during the period. Finally, WCM Investment Management LLC lifted its position in Boot Barn by 66.4% during the fourth quarter. WCM Investment Management LLC now owns 282,246 shares of the company’s stock valued at $21,801,000 after purchasing an additional 112,606 shares in the last quarter.

Analyst Ratings Changes

A number of brokerages have commented on BOOT. Robert W. Baird upped their price target on Boot Barn from $100.00 to $132.00 and gave the stock a “neutral” rating in a research report on Friday, June 7th. TD Cowen increased their target price on shares of Boot Barn from $120.00 to $145.00 and gave the stock a “buy” rating in a report on Wednesday, June 5th. Piper Sandler lifted their price target 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. BTIG Research increased their price objective on shares of Boot Barn from $125.00 to $150.00 and gave the stock a “buy” rating in a research note on Wednesday, June 5th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Boot Barn from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Tuesday, May 21st. One analyst has rated the stock with a sell rating, three have issued a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $123.36.

Boot Barn Stock Performance

Shares of NYSE BOOT opened at $133.81 on Wednesday. The company has a market cap of $4.07 billion, a P/E ratio of 27.88 and a beta of 2.16. Boot Barn Holdings, Inc. has a 52-week low of $66.73 and a 52-week high of $134.00. The firm’s fifty day moving average is $112.18 and its two-hundred day moving average is $93.06.

Boot Barn (NYSE:BOOT) last issued its quarterly earnings data on Tuesday, May 14th. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.12. The firm had revenue of $388.46 million during the quarter, compared to analyst estimates of $383.67 million. Boot Barn had a return on equity of 16.84% and a net margin of 8.82%. As a group, analysts forecast that Boot Barn Holdings, Inc. will post 4.82 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Michael A. Love sold 5,653 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $113.61, for a total transaction of $642,237.33. Following the completion of the transaction, the insider now directly owns 2,327 shares in the company, valued at approximately $264,370.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Boot Barn news, Director Brenda I. Morris sold 1,500 shares of the business’s stock in a transaction that occurred on Thursday, May 23rd. The stock was sold at an average price of $110.11, for a total transaction of $165,165.00. Following the sale, the director now directly owns 4,546 shares of the company’s stock, valued at $500,560.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael A. Love sold 5,653 shares of the company’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $113.61, for a total value of $642,237.33. Following the sale, the insider now owns 2,327 shares in the company, valued at $264,370.47. The disclosure for this sale can be found here. Insiders have sold a total of 11,795 shares of company stock valued at $1,329,686 in the last quarter. 2.20% of the stock is currently owned by 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.