Wellington Management Group LLP Increases Stake in Boot Barn Holdings, Inc. (NYSE:BOOT)

Wellington Management Group LLP boosted its position in shares of Boot Barn Holdings, Inc. (NYSE:BOOT) by 186.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,573,306 shares of the company’s stock after acquiring an additional 1,675,410 shares during the period. Wellington Management Group LLP owned about 8.49% of Boot Barn worth $197,527,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in BOOT. Headlands Technologies LLC grew its holdings in Boot Barn by 1,037.7% during the 4th quarter. Headlands Technologies LLC now owns 785 shares of the company’s stock worth $60,000 after acquiring an additional 716 shares in the last quarter. Principal Securities Inc. acquired a new position in Boot Barn during the 4th quarter worth approximately $102,000. Quest Partners LLC acquired a new position in Boot Barn during the 4th quarter worth approximately $112,000. Neo Ivy Capital Management acquired a new position in Boot Barn during the 4th quarter worth approximately $165,000. Finally, SG Americas Securities LLC acquired a new position in Boot Barn during the 4th quarter worth approximately $199,000.

Boot Barn Price Performance

Shares of NYSE:BOOT opened at $133.81 on Wednesday. The stock has a market cap of $4.07 billion, a P/E ratio of 27.88 and a beta of 2.16. Boot Barn Holdings, Inc. has a 1-year low of $66.73 and a 1-year high of $134.00. The firm has a fifty day moving average price of $112.18 and a 200 day moving average price of $93.06.

Boot Barn (NYSE:BOOT) last announced its quarterly earnings data on Tuesday, May 14th. The company reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.12. The company had revenue of $388.46 million during the quarter, compared to the consensus estimate of $383.67 million. Boot Barn had a net margin of 8.82% and a return on equity of 16.84%. Sell-side analysts expect that Boot Barn Holdings, Inc. will post 4.82 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on BOOT. BTIG Research boosted their price target on shares of Boot Barn from $125.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, June 5th. JPMorgan Chase & Co. upped their target price on shares of Boot Barn from $115.00 to $125.00 and gave the company an “overweight” rating in a report on Tuesday, May 21st. Robert W. Baird upped their target price on shares of Boot Barn from $100.00 to $132.00 and gave the company a “neutral” rating in a report on Friday, June 7th. Piper Sandler upped their target price on shares of Boot Barn from $94.00 to $110.00 and gave the company an “overweight” rating in a report on Tuesday, April 16th. Finally, TD Cowen upped their target price on shares of Boot Barn from $120.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, June 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, Boot Barn has a consensus rating of “Moderate Buy” and a consensus price target of $123.36.

Insiders Place Their Bets

In other Boot Barn news, Director Brenda I. Morris sold 1,500 shares of the company’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $110.11, for a total transaction of $165,165.00. Following the completion of the transaction, the director now owns 4,546 shares in the company, valued at approximately $500,560.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Michael A. Love sold 5,653 shares of the stock in a transaction dated Tuesday, May 21st. The shares were sold at an average price of $113.61, for a total value of $642,237.33. Following the completion of the transaction, the insider now owns 2,327 shares in the company, valued at approximately $264,370.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Brenda I. Morris sold 1,500 shares of the stock in a transaction dated Thursday, May 23rd. The shares were sold at an average price of $110.11, for a total transaction of $165,165.00. Following the completion of the transaction, the director now owns 4,546 shares of the company’s stock, valued at approximately $500,560.06. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,795 shares of company stock worth $1,329,686. 2.20% of the stock is owned by insiders.

About Boot Barn

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.