Insider Selling: Boot Barn Holdings, Inc. (NYSE:BOOT) CEO Sells $965,456.78 in Stock

Boot Barn Holdings, Inc. (NYSE:BOOT) CEO John Hazen sold 6,311 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $152.98, for a total transaction of $965,456.78. Following the completion of the sale, the chief executive officer now directly owns 3,937 shares in the company, valued at approximately $602,282.26. This represents a 61.58 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Boot Barn Trading Up 3.9 %

Shares of NYSE BOOT opened at $158.50 on Monday. The firm has a market cap of $4.84 billion, a P/E ratio of 31.83 and a beta of 2.10. The business’s 50 day moving average is $142.01 and its 200-day moving average is $142.00. Boot Barn Holdings, Inc. has a 1-year low of $68.37 and a 1-year high of $169.83.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.02. The firm had revenue of $425.80 million for the quarter, compared to analysts’ expectations of $424.42 million. Boot Barn had a return on equity of 15.89% and a net margin of 8.73%. The company’s quarterly revenue was up 13.7% compared to the same quarter last year. During the same quarter last year, the business earned $0.91 EPS. Analysts forecast that Boot Barn Holdings, Inc. will post 5.48 EPS for the current year.

Wall Street Analyst Weigh In

BOOT has been the topic of several analyst reports. JPMorgan Chase & Co. boosted their price target on shares of Boot Barn from $160.00 to $181.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Piper Sandler reiterated an “overweight” rating and set a $179.00 target price on shares of Boot Barn in a report on Tuesday, October 29th. Williams Trading restated a “buy” rating and issued a $173.00 price target on shares of Boot Barn in a research note on Tuesday, October 29th. Benchmark reiterated a “buy” rating and set a $192.00 price objective on shares of Boot Barn in a research note on Tuesday, October 29th. Finally, Craig Hallum cut shares of Boot Barn from a “buy” rating to a “hold” rating and raised their target price for the company from $154.00 to $162.00 in a research note on Friday, October 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $164.55.

Institutional Trading of Boot Barn

Hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp grew its position in shares of Boot Barn by 4.4% during the 3rd quarter. State Street Corp now owns 1,208,345 shares of the company’s stock worth $202,132,000 after purchasing an additional 51,356 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Boot Barn by 1.0% in the third quarter. Geode Capital Management LLC now owns 676,277 shares of the company’s stock valued at $113,150,000 after buying an additional 6,369 shares during the period. Thrivent Financial for Lutherans grew its position in Boot Barn by 0.4% during the third quarter. Thrivent Financial for Lutherans now owns 495,546 shares of the company’s stock worth $82,895,000 after buying an additional 1,834 shares in the last quarter. Franklin Resources Inc. increased its stake in Boot Barn by 1.0% during the 3rd quarter. Franklin Resources Inc. now owns 420,688 shares of the company’s stock worth $68,004,000 after acquiring an additional 4,226 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in Boot Barn by 1.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 352,698 shares of the company’s stock valued at $58,999,000 after acquiring an additional 6,335 shares in the last quarter.

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.