Park Avenue Securities LLC Buys Shares of 2,334 Boot Barn Holdings, Inc. (NYSE:BOOT)

Park Avenue Securities LLC purchased a new stake in shares of Boot Barn Holdings, Inc. (NYSE:BOOT) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,334 shares of the company’s stock, valued at approximately $222,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Invesco Ltd. grew its holdings in Boot Barn by 11.3% during the third quarter. Invesco Ltd. now owns 98,759 shares of the company’s stock valued at $8,018,000 after purchasing an additional 10,056 shares during the period. Stifel Financial Corp increased its holdings in Boot Barn by 1.4% in the 3rd quarter. Stifel Financial Corp now owns 29,189 shares of the company’s stock worth $2,370,000 after acquiring an additional 405 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Boot Barn during the 3rd quarter worth approximately $362,000. Natixis Advisors L.P. lifted its holdings in Boot Barn by 4.1% during the third quarter. Natixis Advisors L.P. now owns 32,459 shares of the company’s stock valued at $2,635,000 after purchasing an additional 1,287 shares in the last quarter. Finally, Trexquant Investment LP bought a new position in shares of Boot Barn in the third quarter worth approximately $893,000.

Insider Buying and Selling

In other Boot Barn news, insider Michael A. Love sold 5,653 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $113.61, for a total transaction of $642,237.33. Following the completion of the transaction, the insider now owns 2,327 shares in the company, valued at $264,370.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider John Hazen sold 3,563 shares of Boot Barn stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $113.21, for a total transaction of $403,367.23. Following the completion of the sale, the insider now owns 1,309 shares in the company, valued at approximately $148,191.89. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michael A. Love sold 5,653 shares of the firm’s stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $113.61, for a total transaction of $642,237.33. Following the transaction, the insider now directly owns 2,327 shares in the company, valued at $264,370.47. The disclosure for this sale can be found here. Insiders have sold 11,795 shares of company stock valued at $1,329,686 in the last ninety days. 2.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Benchmark raised their price objective on shares of Boot Barn from $110.00 to $140.00 and gave the company a “buy” rating in a research report on Monday, June 10th. Piper Sandler boosted their price objective on Boot Barn from $94.00 to $110.00 and gave the company an “overweight” rating in a research report on Tuesday, April 16th. JPMorgan Chase & Co. increased their target price on Boot Barn from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 21st. Craig Hallum boosted their price target on Boot Barn from $120.00 to $150.00 and gave the stock a “buy” rating in a report on Wednesday, June 5th. Finally, Robert W. Baird increased their price objective 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. One analyst has rated the stock with a sell rating, three have assigned a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $123.36.

Boot Barn Stock Performance

NYSE BOOT opened at $131.28 on Wednesday. The company has a market cap of $3.99 billion, a P/E ratio of 27.35 and a beta of 2.09. The business’s 50 day moving average price is $117.94 and its 200-day moving average price is $96.83. Boot Barn Holdings, Inc. has a fifty-two week low of $66.73 and a fifty-two week high of $134.61.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings data on Tuesday, May 14th. The company reported $1.01 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.12. The business had revenue of $388.46 million for the quarter, compared to analysts’ expectations of $383.67 million. Boot Barn had a net margin of 8.82% and a return on equity of 16.84%. As a group, equities analysts predict that Boot Barn Holdings, Inc. will post 4.82 EPS for the current year.

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.