The Manufacturers Life Insurance Company Reduces Stake in Boot Barn Holdings, Inc. (NYSE:BOOT)

The Manufacturers Life Insurance Company trimmed its position in Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 90.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,057 shares of the company's stock after selling 168,115 shares during the quarter. The Manufacturers Life Insurance Company owned 0.06% of Boot Barn worth $2,853,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Dynamic Technology Lab Private Ltd grew its position in Boot Barn by 81.5% during the third quarter. Dynamic Technology Lab Private Ltd now owns 9,446 shares of the company's stock worth $1,580,000 after buying an additional 4,242 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of Boot Barn by 2.0% during the 3rd quarter. Fisher Asset Management LLC now owns 4,192 shares of the company's stock worth $701,000 after purchasing an additional 83 shares in the last quarter. Algert Global LLC increased its position in shares of Boot Barn by 653.9% in the third quarter. Algert Global LLC now owns 23,001 shares of the company's stock worth $3,848,000 after purchasing an additional 19,950 shares during the period. Cerity Partners LLC raised its stake in Boot Barn by 85.0% in the third quarter. Cerity Partners LLC now owns 2,949 shares of the company's stock valued at $493,000 after purchasing an additional 1,355 shares in the last quarter. Finally, Citigroup Inc. lifted its position in Boot Barn by 37.1% during the third quarter. Citigroup Inc. now owns 57,870 shares of the company's stock worth $9,680,000 after purchasing an additional 15,673 shares during the period.

Analyst Ratings Changes

Several brokerages have commented on BOOT. BTIG Research boosted their price objective on shares of Boot Barn from $165.00 to $185.00 and gave the company a "buy" rating in a research report on Tuesday, October 29th. Benchmark restated a "buy" rating and set a $192.00 price objective on shares of Boot Barn in a research report on Tuesday, October 29th. Piper Sandler reaffirmed an "overweight" rating and issued a $179.00 price objective on shares of Boot Barn in a research note on Tuesday, October 29th. Williams Trading reissued a "buy" rating and set a $173.00 target price on shares of Boot Barn in a research note on Tuesday, October 29th. Finally, Robert W. Baird upgraded shares of Boot Barn from a "neutral" rating to an "outperform" rating and set a $167.00 price target on the stock in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Boot Barn presently has a consensus rating of "Moderate Buy" and a consensus target price of $164.55.

Boot Barn Stock Up 4.2 %

NYSE:BOOT traded up $6.30 during trading hours on Friday, hitting $154.87. 808,491 shares of the company's stock traded hands, compared to its average volume of 719,179. The firm has a market cap of $4.73 billion, a P/E ratio of 31.10 and a beta of 2.14. The business's fifty day simple moving average is $147.46 and its two-hundred day simple moving average is $138.34. Boot Barn Holdings, Inc. has a 52 week low of $68.37 and a 52 week high of $169.83.

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

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.