Boot Barn Holdings, Inc. $BOOT Stake Lessened by Legal & General Group Plc

Legal & General Group Plc cut its stake in Boot Barn Holdings, Inc. (NYSE:BOOT) by 3.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,963 shares of the company’s stock after selling 3,055 shares during the period. Legal & General Group Plc’s holdings in Boot Barn were worth $13,758,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in BOOT. Balyasny Asset Management L.P. increased its position in shares of Boot Barn by 2,547.7% in the 3rd quarter. Balyasny Asset Management L.P. now owns 471,192 shares of the company’s stock worth $78,086,000 after purchasing an additional 453,396 shares during the last quarter. Invesco Ltd. lifted its position in shares of Boot Barn by 46.3% during the third quarter. Invesco Ltd. now owns 917,406 shares of the company’s stock worth $152,033,000 after purchasing an additional 290,493 shares during the last quarter. Principal Financial Group Inc. grew its stake in Boot Barn by 132.4% in the third quarter. Principal Financial Group Inc. now owns 352,816 shares of the company’s stock worth $58,469,000 after purchasing an additional 201,026 shares in the last quarter. Wedge Capital Management L L P NC bought a new stake in Boot Barn in the fourth quarter valued at about $31,113,000. Finally, Scopus Asset Management L.P. bought a new stake in Boot Barn in the third quarter valued at about $21,573,000.

Boot Barn Trading Up 1.2%

NYSE:BOOT opened at $171.87 on Wednesday. The stock has a 50 day moving average of $156.46 and a 200-day moving average of $176.41. The firm has a market capitalization of $5.22 billion, a PE ratio of 23.38, a price-to-earnings-growth ratio of 1.19 and a beta of 1.70. Boot Barn Holdings, Inc. has a 52 week low of $133.18 and a 52 week high of $210.25.

Boot Barn (NYSE:BOOT) last released its quarterly earnings data on Thursday, May 14th. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.02. The business had revenue of $538.75 million during the quarter, compared to analyst estimates of $531.44 million. Boot Barn had a return on equity of 18.15% and a net margin of 10.02%.The business’s revenue for the quarter was up 18.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.22 EPS. Boot Barn has set its Q1 2027 guidance at 1.620-1.710 EPS and its FY 2027 guidance at 8.210-8.640 EPS. As a group, analysts predict that Boot Barn Holdings, Inc. will post 8.54 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on BOOT shares. Bank of America reduced their target price on Boot Barn from $224.00 to $206.00 and set a “buy” rating on the stock in a report on Friday, May 15th. BTIG Research restated a “buy” rating and set a $235.00 price objective on shares of Boot Barn in a research note on Friday, May 15th. Jefferies Financial Group raised shares of Boot Barn from a “hold” rating to a “buy” rating and set a $195.00 price objective for the company in a report on Monday, April 6th. UBS Group boosted their target price on shares of Boot Barn from $270.00 to $272.00 and gave the company a “buy” rating in a research note on Friday, May 15th. Finally, Zacks Research cut shares of Boot Barn from a “strong-buy” rating to a “hold” rating in a report on Thursday, March 12th. Twelve research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $230.83.

Boot Barn Profile

Boot Barn, Inc is a leading specialty retailer focused on western and work-related footwear, apparel and accessories. The company operates full-price and outlet retail stores under the Boot Barn and BootBarn.com brands, offering a wide assortment of cowboy boots, work boots, casual and fashion footwear, western and work apparel, hats, belts and related accessories. In addition to its brick-and-mortar network, Boot Barn maintains an e-commerce platform to serve customers seeking ranch-and-rodeo style clothing and rugged workwear from coast to coast.

Founded in 1978 in Southern California, Boot Barn began as a single store catering to ranchers, farmworkers and western enthusiasts.