Westwood Holdings Group Inc. Decreases Stock Holdings in Boot Barn Holdings, Inc. (NYSE:BOOT)

Westwood Holdings Group Inc. trimmed its position in shares of Boot Barn Holdings, Inc. (NYSE:BOOT) by 41.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 320,118 shares of the company’s stock after selling 225,526 shares during the quarter. Westwood Holdings Group Inc. owned about 1.05% of Boot Barn worth $41,273,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of BOOT. GAMMA Investing LLC raised its position in shares of Boot Barn by 111.1% in the 2nd quarter. GAMMA Investing LLC now owns 266 shares of the company’s stock valued at $34,000 after purchasing an additional 140 shares during the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Boot Barn in the 2nd quarter valued at approximately $64,000. 1620 Investment Advisors Inc. purchased a new position in shares of Boot Barn in the 2nd quarter valued at approximately $84,000. Quest Partners LLC purchased a new position in Boot Barn during the 4th quarter worth approximately $112,000. Finally, First Horizon Advisors Inc. raised its position in Boot Barn by 11.2% during the 2nd quarter. First Horizon Advisors Inc. now owns 931 shares of the company’s stock worth $120,000 after buying an additional 94 shares during the last quarter.

Boot Barn Stock Performance

Boot Barn stock opened at $167.81 on Friday. The company’s fifty day moving average price is $135.81 and its 200 day moving average price is $118.82. Boot Barn Holdings, Inc. has a 1 year low of $66.73 and a 1 year high of $168.70. The stock has a market capitalization of $5.10 billion, a P/E ratio of 34.96 and a beta of 2.11.

Boot Barn (NYSE:BOOT) last released its quarterly earnings results on Wednesday, August 7th. The company reported $1.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.18. Boot Barn had a net margin of 8.89% and a return on equity of 16.44%. The firm had revenue of $423.40 million for the quarter, compared to analysts’ expectations of $415.04 million. During the same quarter last year, the company earned $1.11 EPS. The firm’s revenue for the quarter was up 10.3% compared to the same quarter last year. Sell-side analysts predict that Boot Barn Holdings, Inc. will post 5.3 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on BOOT. Craig Hallum raised their price target on shares of Boot Barn from $120.00 to $150.00 and gave the stock a “buy” rating in a research report on Wednesday, June 5th. UBS Group raised their price target on shares of Boot Barn from $125.00 to $127.00 and gave the stock a “neutral” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. raised their price target on shares of Boot Barn from $146.00 to $160.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 10th. Citigroup raised their price target on shares of Boot Barn from $122.00 to $154.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. Finally, Piper Sandler raised their price target on shares of Boot Barn from $144.00 to $147.00 and gave the stock an “overweight” rating in a research report on Thursday, August 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Boot Barn presently has an average rating of “Moderate Buy” and a consensus target price of $141.10.

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.