Emerald Advisers LLC Invests $19.99 Million in Boot Barn Holdings, Inc. (NYSE:BOOT)

Emerald Advisers LLC acquired a new position in shares of Boot Barn Holdings, Inc. (NYSE:BOOT) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 131,637 shares of the company’s stock, valued at approximately $19,985,000.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Boot Barn by 2.2% during the fourth quarter. Vanguard Group Inc. now owns 3,409,865 shares of the company’s stock worth $517,686,000 after purchasing an additional 73,089 shares during the last quarter. LPL Financial LLC boosted its holdings in shares of Boot Barn by 50.2% during the fourth quarter. LPL Financial LLC now owns 13,957 shares of the company’s stock worth $2,119,000 after purchasing an additional 4,663 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new stake in shares of Boot Barn during the fourth quarter worth $956,000. Knights of Columbus Asset Advisors LLC boosted its holdings in Boot Barn by 21.7% in the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 17,724 shares of the company’s stock valued at $2,691,000 after acquiring an additional 3,162 shares during the last quarter. Finally, American Century Companies Inc. boosted its holdings in Boot Barn by 22.8% in the fourth quarter. American Century Companies Inc. now owns 493,977 shares of the company’s stock valued at $74,996,000 after acquiring an additional 91,705 shares during the last quarter.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on BOOT shares. Piper Sandler reiterated an “overweight” rating and issued a $181.00 target price (up previously from $179.00) on shares of Boot Barn in a report on Friday, January 31st. Robert W. Baird reduced their target price on Boot Barn from $190.00 to $155.00 and set an “outperform” rating on the stock in a report on Wednesday, March 5th. BTIG Research lifted their target price on Boot Barn from $185.00 to $190.00 and gave the company a “buy” rating in a report on Monday, January 13th. Bank of America lifted their target price on Boot Barn from $187.00 to $192.00 and gave the company a “buy” rating in a report on Wednesday, January 15th. Finally, KeyCorp upgraded Boot Barn from a “sector weight” rating to an “overweight” rating and set a $190.00 target price on the stock in a report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $181.92.

Insider Transactions at Boot Barn

In other news, CEO John Hazen sold 6,311 shares of Boot Barn stock in a transaction dated 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 directly owns 3,937 shares of the company’s stock, valued at approximately $602,282.26. The trade was a 61.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Boot Barn Stock Performance

Shares of NYSE BOOT opened at $104.64 on Friday. Boot Barn Holdings, Inc. has a 1 year low of $84.83 and a 1 year high of $176.64. The firm has a market cap of $3.20 billion, a price-to-earnings ratio of 18.68, a PEG ratio of 1.17 and a beta of 2.07. The stock’s 50-day simple moving average is $134.51 and its 200-day simple moving average is $144.58.

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

Boot Barn 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.