Connor Clark & Lunn Investment Management Ltd. Purchases New Stake in Boot Barn Holdings, Inc. $BOOT

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Boot Barn Holdings, Inc. (NYSE:BOOT) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 21,523 shares of the company’s stock, valued at approximately $3,536,000. Connor Clark & Lunn Investment Management Ltd. owned 0.07% of Boot Barn at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in BOOT. BlackRock Inc. acquired a new position in Boot Barn in the 2nd quarter valued at approximately $840,629,000. Wellington Management Group LLP increased its stake in shares of Boot Barn by 4.3% in the fourth quarter. Wellington Management Group LLP now owns 1,206,107 shares of the company’s stock worth $212,842,000 after acquiring an additional 49,790 shares during the last quarter. State Street Corp raised its holdings in shares of Boot Barn by 0.6% during the fourth quarter. State Street Corp now owns 1,176,193 shares of the company’s stock worth $207,563,000 after acquiring an additional 7,410 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in Boot Barn by 83.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 1,103,441 shares of the company’s stock valued at $194,725,000 after purchasing an additional 502,275 shares during the last quarter. Finally, Invesco Ltd. grew its stake in Boot Barn by 15.7% in the fourth quarter. Invesco Ltd. now owns 1,061,668 shares of the company’s stock valued at $187,353,000 after purchasing an additional 144,262 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on BOOT shares. TD Cowen reduced their price target on Boot Barn from $225.00 to $190.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Robert W. Baird set a $212.00 price target on shares of Boot Barn in a research note on Thursday, July 30th. Citigroup reiterated a “buy” rating on shares of Boot Barn in a report on Monday, May 4th. Piper Sandler cut their target price on Boot Barn from $230.00 to $226.00 and set an “overweight” rating on the stock in a report on Friday, May 15th. Finally, Stephens boosted their price target on Boot Barn from $196.00 to $207.00 and gave the stock an “overweight” rating in a research report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Boot Barn presently has a consensus rating of “Buy” and a consensus price target of $219.55.

Boot Barn Stock Down 0.1%

Shares of BOOT stock opened at $155.41 on Friday. Boot Barn Holdings, Inc. has a 12-month low of $133.18 and a 12-month high of $210.25. The company has a market capitalization of $4.71 billion, a P/E ratio of 19.67, a P/E/G ratio of 1.00 and a beta of 1.71. The firm has a 50-day moving average price of $160.34 and a 200 day moving average price of $164.51.

Boot Barn (NYSE:BOOT) last issued its quarterly earnings data on Wednesday, July 29th. The company reported $2.29 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.60. The firm had revenue of $593.51 million for the quarter, compared to analysts’ expectations of $583.15 million. Boot Barn had a net margin of 10.35% and a return on equity of 18.78%. The company’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.74 earnings per share. Boot Barn has set its FY 2027 guidance at 8.800-9.230 EPS and its Q2 2027 guidance at 1.550-1.650 EPS. As a group, research analysts expect that Boot Barn Holdings, Inc. will post 9.18 earnings per share for the current year.

About Boot Barn

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.