Blueshift Asset Management LLC Decreases Stake in Boot Barn Holdings, Inc. (NYSE:BOOT)

Blueshift Asset Management LLC reduced its position in Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 22.8% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 15,433 shares of the company's stock after selling 4,549 shares during the period. Boot Barn comprises 0.9% of Blueshift Asset Management LLC's holdings, making the stock its 14th largest position. Blueshift Asset Management LLC owned about 0.05% of Boot Barn worth $2,343,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Stephens Investment Management Group LLC acquired a new stake in shares of Boot Barn in the fourth quarter valued at approximately $46,699,000. Proficio Capital Partners LLC bought a new stake in Boot Barn in the 4th quarter valued at $45,177,000. Raymond James Financial Inc. acquired a new stake in Boot Barn during the 4th quarter valued at $42,440,000. Artemis Investment Management LLP bought a new position in Boot Barn during the fourth quarter worth $36,361,000. Finally, TimesSquare Capital Management LLC increased its holdings in shares of Boot Barn by 134.5% in the fourth quarter. TimesSquare Capital Management LLC now owns 289,641 shares of the company's stock valued at $43,973,000 after purchasing an additional 166,121 shares during the last quarter.

Boot Barn Stock Up 7.7 %

Boot Barn stock traded up $8.02 during mid-day trading on Monday, hitting $112.75. 709,373 shares of the stock were exchanged, compared to its average volume of 762,097. The stock has a market capitalization of $3.45 billion, a price-to-earnings ratio of 20.13, a PEG ratio of 1.17 and a beta of 2.07. Boot Barn Holdings, Inc. has a 12 month low of $84.83 and a 12 month high of $176.64. The firm's fifty day simple moving average is $133.66 and its two-hundred day simple moving average is $144.49.

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Boot Barn (NYSE:BOOT - Get Free Report) last issued its earnings results on Thursday, January 30th. The company reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.38. Boot Barn had a net margin of 9.36% and a return on equity of 17.11%. As a group, analysts forecast that Boot Barn Holdings, Inc. will post 5.82 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on BOOT shares. UBS Group cut their target price on shares of Boot Barn from $210.00 to $200.00 and set a "buy" rating for the company in a research note on Monday, February 3rd. Piper Sandler restated an "overweight" rating and set a $181.00 price objective (up previously from $179.00) on shares of Boot Barn in a report on Friday, January 31st. Robert W. Baird lowered their target price on Boot Barn from $190.00 to $155.00 and set an "outperform" rating on the stock in a research note on Wednesday, March 5th. Craig Hallum set a $178.00 price target on Boot Barn in a research note on Friday, January 31st. Finally, StockNews.com cut Boot Barn from a "hold" rating to a "sell" rating in a research report on Monday, February 17th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Boot Barn has a consensus rating of "Moderate Buy" and an average price target of $181.92.

Insider Buying and Selling at Boot Barn

In related news, CEO John Hazen sold 6,311 shares of the company'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 owns 3,937 shares in the company, valued at approximately $602,282.26. This represents a 61.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 1.00% of the company's stock.

Boot Barn Company Profile

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.