Boot Barn Holdings, Inc. (NYSE:BOOT) Position Boosted by Geode Capital Management LLC

Geode Capital Management LLC raised its stake in Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 1.0% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 676,277 shares of the company's stock after buying an additional 6,369 shares during the quarter. Geode Capital Management LLC owned approximately 2.22% of Boot Barn worth $113,150,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in BOOT. Algert Global LLC raised its stake in shares of Boot Barn by 653.9% during the third quarter. Algert Global LLC now owns 23,001 shares of the company's stock valued at $3,848,000 after purchasing an additional 19,950 shares in the last quarter. Blueshift Asset Management LLC bought a new stake in shares of Boot Barn during the third quarter valued at about $3,343,000. Public Sector Pension Investment Board raised its stake in shares of Boot Barn by 7.7% during the second quarter. Public Sector Pension Investment Board now owns 66,902 shares of the company's stock valued at $8,626,000 after purchasing an additional 4,785 shares in the last quarter. Raymond James & Associates raised its stake in shares of Boot Barn by 1.8% during the second quarter. Raymond James & Associates now owns 49,263 shares of the company's stock valued at $6,351,000 after purchasing an additional 875 shares in the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of Boot Barn by 51.1% during the third quarter. Victory Capital Management Inc. now owns 14,362 shares of the company's stock valued at $2,402,000 after purchasing an additional 4,856 shares in the last quarter.

Boot Barn Stock Performance

BOOT traded down $3.45 during trading on Wednesday, reaching $145.57. The company had a trading volume of 492,489 shares, compared to its average volume of 761,149. The firm's 50-day simple moving average is $144.69 and its 200 day simple moving average is $140.02. The company has a market cap of $4.44 billion, a price-to-earnings ratio of 29.23 and a beta of 2.14. Boot Barn Holdings, Inc. has a 12-month low of $68.37 and a 12-month high of $169.83.

Boot Barn (NYSE:BOOT - Get Free Report) last issued its quarterly earnings results on Monday, October 28th. The company reported $0.95 earnings per share for the quarter, topping analysts' consensus estimates of $0.93 by $0.02. Boot Barn had a return on equity of 15.89% and a net margin of 8.73%. The firm had revenue of $425.80 million for the quarter, compared to analysts' expectations of $424.42 million. During the same quarter last year, the business posted $0.91 EPS. Boot Barn's revenue was up 13.7% on a year-over-year basis. On average, sell-side analysts expect that Boot Barn Holdings, Inc. will post 5.48 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on BOOT. Piper Sandler restated an "overweight" rating and set a $179.00 price objective on shares of Boot Barn in a research note on Tuesday, October 29th. Baird R W upgraded shares of Boot Barn from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, October 30th. 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. BTIG Research boosted their price target on shares of Boot Barn from $165.00 to $185.00 and gave the stock a "buy" rating in a research report on Tuesday, October 29th. Finally, Craig Hallum cut shares of Boot Barn from a "buy" rating to a "hold" rating and boosted their price target for the stock from $154.00 to $162.00 in a research report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $164.55.

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.