Boot Barn Holdings, Inc. (NYSE:BOOT) Holdings Trimmed by Phocas Financial Corp.

Posted by Joseph Casey on Mar 18th, 2023

Phocas Financial Corp. cut its holdings in Boot Barn Holdings, Inc. (NYSE:BOOT – Get Rating) by 0.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 43,003 shares of the company’s stock after selling 155 shares during the quarter. Phocas Financial Corp. owned about 0.14% of Boot Barn worth $2,689,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Great West Life Assurance Co. Can bought a new stake in shares of Boot Barn during the 3rd quarter worth $2,074,000. Dimensional Fund Advisors LP increased its stake in Boot Barn by 2.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 991,210 shares of the company’s stock worth $57,949,000 after purchasing an additional 25,155 shares in the last quarter. CX Institutional acquired a new stake in Boot Barn during the 3rd quarter worth about $868,000. Canada Pension Plan Investment Board lifted its stake in Boot Barn by 238.8% during the third quarter. Canada Pension Plan Investment Board now owns 28,800 shares of the company’s stock valued at $1,684,000 after buying an additional 20,300 shares in the last quarter. Finally, Lord Abbett & CO. LLC acquired a new position in shares of Boot Barn in the third quarter worth about $5,380,000.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on BOOT. StockNews.com started coverage on shares of Boot Barn in a report on Thursday. They set a “sell” rating on the stock. Robert W. Baird cut Boot Barn from an “outperform” rating to a “neutral” rating in a research note on Monday, January 30th. JPMorgan Chase & Co. increased their price target on shares of Boot Barn from $94.00 to $100.00 and gave the stock an “overweight” rating in a research report on Thursday, January 26th. UBS Group boosted their price objective on shares of Boot Barn from $69.00 to $75.00 in a research report on Thursday, January 19th. Finally, Bank of America began coverage on shares of Boot Barn in a research report on Friday, January 6th. They issued a “buy” rating and a $85.00 target price for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $92.70.

Boot Barn Stock Down 4.1 %

Shares of NYSE:BOOT traded down $3.10 on Friday, reaching $71.93. The company had a trading volume of 850,139 shares, compared to its average volume of 763,818. The stock has a market capitalization of $2.14 billion, a P/E ratio of 12.94, a P/E/G ratio of 1.26 and a beta of 2.35. The stock has a 50-day moving average price of $78.04 and a 200 day moving average price of $67.12. Boot Barn Holdings, Inc. has a twelve month low of $50.20 and a twelve month high of $105.66.

Boot Barn (NYSE:BOOT – Get Rating) last issued its quarterly earnings data on Wednesday, January 25th. The company reported $1.74 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.74. The business had revenue of $514.55 million for the quarter, compared to the consensus estimate of $514.44 million. Boot Barn had a return on equity of 25.42% and a net margin of 10.45%. The firm’s revenue was up 5.9% compared to the same quarter last year. During the same period last year, the business earned $2.23 EPS. On average, sell-side analysts predict that Boot Barn Holdings, Inc. will post 5.54 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO James Grant Conroy sold 56,880 shares of Boot Barn stock in a transaction on Friday, February 10th. The shares were sold at an average price of $80.95, for a total value of $4,604,436.00. Following the transaction, the chief executive officer now owns 35,701 shares in the company, valued at approximately $2,889,995.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.20% of the stock is owned by insiders.

Boot Barn Company Profile

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Boot Barn Holdings, Inc engages in the operation of retail stores of western and work-related footwear, apparel, and accessories. The firm’s products include boots, jeans, accessories, hats, gifts and home products, and work wear. Its brands include Ariat, Wrangler, Lucchese Boots, Idyllwind, and Cinch.