Pier Capital LLC Cuts Stock Holdings in Boot Barn Holdings, Inc. (NYSE:BOOT)

Pier Capital LLC lessened its stake in shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 9.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 58,135 shares of the company's stock after selling 5,858 shares during the quarter. Boot Barn comprises approximately 1.3% of Pier Capital LLC's portfolio, making the stock its 29th biggest position. Pier Capital LLC owned about 0.19% of Boot Barn worth $8,826,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the stock. EFG Asset Management North America Corp. increased its stake in Boot Barn by 22.8% in the 4th quarter. EFG Asset Management North America Corp. now owns 23,318 shares of the company's stock valued at $3,533,000 after buying an additional 4,335 shares during the period. Advantage Alpha Capital Partners LP purchased a new position in Boot Barn during the fourth quarter worth about $4,906,000. Summit Creek Advisors LLC lifted its position in Boot Barn by 39.0% in the fourth quarter. Summit Creek Advisors LLC now owns 153,174 shares of the company's stock valued at $23,255,000 after purchasing an additional 42,981 shares during the period. Emerald Advisers LLC purchased a new stake in Boot Barn in the 4th quarter valued at approximately $19,985,000. Finally, Vanguard Group Inc. boosted its holdings in Boot Barn by 2.2% in the 4th quarter. Vanguard Group Inc. now owns 3,409,865 shares of the company's stock valued at $517,686,000 after purchasing an additional 73,089 shares in the last quarter.

Boot Barn Stock Performance

BOOT stock traded down $3.14 on Friday, reaching $104.13. The company had a trading volume of 639,227 shares, compared to its average volume of 777,702. The company's fifty day moving average is $129.91 and its 200 day moving average is $143.48. The company has a market cap of $3.19 billion, a P/E ratio of 18.59, a PEG ratio of 1.17 and a beta of 2.07. Boot Barn Holdings, Inc. has a 1 year low of $95.28 and a 1 year high of $176.64.

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

Insiders Place Their Bets

In other news, CEO John Hazen sold 6,311 shares of the firm'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 sale, the chief executive officer now owns 3,937 shares in the company, valued at $602,282.26. This trade represents a 61.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on BOOT shares. Craig Hallum set a $178.00 price target on Boot Barn in a report on Friday, January 31st. JPMorgan Chase & Co. raised their target price on Boot Barn from $200.00 to $209.00 and gave the company an "overweight" rating in a report on Friday, January 31st. UBS Group lowered their price target on shares of Boot Barn from $210.00 to $200.00 and set a "buy" rating on the stock in a research note on Monday, February 3rd. BTIG Research raised their price objective on shares of Boot Barn from $185.00 to $190.00 and gave the company a "buy" rating in a research note on Monday, January 13th. Finally, Piper Sandler restated an "overweight" rating and set a $181.00 target price (up from $179.00) on shares of Boot Barn in a research report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Boot Barn presently has an average rating of "Moderate Buy" and a consensus price target of $181.92.

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.