Canada Pension Plan Investment Board Lowers Stock Position in Boot Barn Holdings, Inc. (NYSE:BOOT)

Canada Pension Plan Investment Board cut its position in shares of Boot Barn Holdings, Inc. (NYSE:BOOT) by 73.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,800 shares of the company’s stock after selling 10,600 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Boot Barn were worth $577,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of Boot Barn by 47.3% in the 4th quarter. FMR LLC now owns 2,211,300 shares of the company’s stock worth $335,720,000 after buying an additional 709,903 shares during the last quarter. Wellington Management Group LLP grew its stake in Boot Barn by 48.6% in the 4th quarter. Wellington Management Group LLP now owns 2,161,052 shares of the company’s stock valued at $328,091,000 after purchasing an additional 706,518 shares during the period. Stephens Investment Management Group LLC purchased a new stake in shares of Boot Barn during the 4th quarter valued at $46,699,000. Proficio Capital Partners LLC bought a new stake in shares of Boot Barn during the 4th quarter worth $45,177,000. Finally, Raymond James Financial Inc. purchased a new position in shares of Boot Barn in the 4th quarter worth about $42,440,000.

Boot Barn Stock Performance

Shares of BOOT stock opened at $102.17 on Friday. The company has a market capitalization of $3.13 billion, a PE ratio of 18.24, a price-to-earnings-growth ratio of 1.17 and a beta of 1.75. Boot Barn Holdings, Inc. has a 52-week low of $86.17 and a 52-week high of $176.64. The business’s fifty day moving average is $107.13 and its 200 day moving average is $134.45.

Boot Barn (NYSE:BOOT) last released its quarterly earnings results on Thursday, January 30th. The company reported $2.43 earnings per share for the quarter, beating 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%. On average, sell-side analysts forecast that Boot Barn Holdings, Inc. will post 5.82 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently issued reports on BOOT shares. Craig Hallum upgraded shares of Boot Barn from a “hold” rating to a “buy” rating and set a $130.00 price objective for the company in a report on Wednesday. JPMorgan Chase & Co. lifted their price target on shares of Boot Barn from $200.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. Bank of America increased their price objective on Boot Barn from $187.00 to $192.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Piper Sandler restated an “overweight” rating and issued a $181.00 target price (up from $179.00) on shares of Boot Barn in a research note on Friday, January 31st. Finally, KeyCorp upgraded Boot Barn from a “sector weight” rating to an “overweight” rating and set a $190.00 price target for the company in a research note on Thursday, January 23rd. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $169.23.

Boot Barn 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.