Primecap Management Co. CA Decreases Stock Position in Boot Barn Holdings, Inc. (NYSE:BOOT)

Primecap Management Co. CA trimmed its holdings in shares of Boot Barn Holdings, Inc. (NYSE:BOOT) by 3.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 63,500 shares of the company’s stock after selling 2,200 shares during the period. Primecap Management Co. CA owned approximately 0.21% of Boot Barn worth $8,187,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. GAMMA Investing LLC boosted its position in shares of Boot Barn by 111.1% during the second quarter. GAMMA Investing LLC now owns 266 shares of the company’s stock valued at $34,000 after buying an additional 140 shares during the last quarter. 1620 Investment Advisors Inc. purchased a new stake in shares of Boot Barn during the 2nd quarter valued at about $84,000. First Horizon Advisors Inc. raised its holdings in shares of Boot Barn by 11.2% during the second quarter. First Horizon Advisors Inc. now owns 931 shares of the company’s stock valued at $120,000 after purchasing an additional 94 shares during the last quarter. Principal Securities Inc. bought a new position in Boot Barn during the fourth quarter valued at approximately $102,000. Finally, Quest Partners LLC purchased a new stake in Boot Barn in the fourth quarter worth approximately $112,000.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on BOOT. Craig Hallum increased their price target on Boot Barn from $120.00 to $150.00 and gave the company a “buy” rating in a report on Wednesday, June 5th. TD Cowen increased their target price on Boot Barn from $120.00 to $145.00 and gave the company a “buy” rating in a report on Wednesday, June 5th. BTIG Research boosted their price target on Boot Barn from $150.00 to $165.00 and gave the company a “buy” rating in a research note on Tuesday, September 10th. Robert W. Baird increased their price objective on shares of Boot Barn from $132.00 to $140.00 and gave the stock a “neutral” rating in a research note on Thursday, August 8th. Finally, Citigroup boosted their target price on shares of Boot Barn from $122.00 to $154.00 and gave the company a “buy” rating in a research report on Friday, July 19th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $141.10.

Boot Barn Price Performance

BOOT opened at $160.33 on Thursday. The company has a 50 day simple moving average of $133.47 and a two-hundred day simple moving average of $117.45. The firm has a market cap of $4.87 billion, a P/E ratio of 33.40 and a beta of 2.11. Boot Barn Holdings, Inc. has a 1-year low of $66.73 and a 1-year high of $164.43.

Boot Barn (NYSE:BOOT) last issued its earnings results on Wednesday, August 7th. The company reported $1.26 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.18. The company had revenue of $423.40 million during the quarter, compared to the consensus estimate of $415.04 million. Boot Barn had a net margin of 8.89% and a return on equity of 16.44%. Boot Barn’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.11 EPS. Equities analysts anticipate that Boot Barn Holdings, Inc. will post 5.3 earnings per share 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.