Boot Barn Holdings, Inc. (NYSE:BOOT) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. raised its holdings in shares of Boot Barn Holdings, Inc. (NYSE:BOOT) by 56.5% in the 3rd quarter, HoldingsChannel reports. The fund owned 141,305 shares of the company’s stock after buying an additional 51,032 shares during the quarter. JPMorgan Chase & Co.’s holdings in Boot Barn were worth $23,638,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Trust Point Inc. increased its stake in Boot Barn by 0.8% in the third quarter. Trust Point Inc. now owns 9,112 shares of the company’s stock valued at $1,524,000 after purchasing an additional 71 shares during the last quarter. Crossmark Global Holdings Inc. grew its position in shares of Boot Barn by 3.7% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 2,283 shares of the company’s stock valued at $382,000 after buying an additional 82 shares during the last quarter. Fisher Asset Management LLC grew its position in shares of Boot Barn by 2.0% in the 3rd quarter. Fisher Asset Management LLC now owns 4,192 shares of the company’s stock valued at $701,000 after buying an additional 83 shares during the last quarter. Kings Path Partners LLC raised its stake in Boot Barn by 2.7% during the 3rd quarter. Kings Path Partners LLC now owns 5,430 shares of the company’s stock worth $908,000 after acquiring an additional 142 shares in the last quarter. Finally, GHP Investment Advisors Inc. acquired a new position in Boot Barn in the third quarter valued at $25,000.

Insider Activity at Boot Barn

In related news, CEO John Hazen sold 6,311 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $152.98, for a total transaction of $965,456.78. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 1.00% of the company’s stock.

Boot Barn Stock Performance

Boot Barn stock opened at $159.99 on Thursday. The company has a market cap of $4.88 billion, a price-to-earnings ratio of 32.13 and a beta of 2.10. The firm has a 50 day moving average price of $143.21 and a 200 day moving average price of $142.55. Boot Barn Holdings, Inc. has a 1 year low of $69.35 and a 1 year high of $169.83.

Boot Barn (NYSE:BOOT) last posted its earnings results on Monday, October 28th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.02. Boot Barn had a net margin of 8.73% and a return on equity of 15.89%. The firm had revenue of $425.80 million during the quarter, compared to the consensus estimate of $424.42 million. During the same quarter in the prior year, the company earned $0.91 EPS. The company’s revenue was up 13.7% on a year-over-year basis. Sell-side analysts predict that Boot Barn Holdings, Inc. will post 5.48 EPS for the current year.

Analyst Upgrades and Downgrades

BOOT has been the subject of several research reports. Craig Hallum downgraded Boot Barn from a “buy” rating to a “hold” rating and boosted their target price for the company from $154.00 to $162.00 in a report on Friday, October 25th. Robert W. Baird raised Boot Barn from a “neutral” rating to an “outperform” rating and set a $167.00 price objective for the company in a report on Wednesday, October 30th. BTIG Research lifted their target price on shares of Boot Barn from $165.00 to $185.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. UBS Group increased their price target on shares of Boot Barn from $127.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Finally, Williams Trading reissued a “buy” rating and set a $173.00 price objective on shares of Boot Barn in a research report on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $167.00.

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.