Wellington Management Group LLP Lowers Stock Holdings in Boot Barn Holdings, Inc. (NYSE:BOOT)

Wellington Management Group LLP lessened its position in Boot Barn Holdings, Inc. (NYSE:BOOT) by 20.0% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,454,534 shares of the company’s stock after selling 362,985 shares during the quarter. Wellington Management Group LLP’s holdings in Boot Barn were worth $243,314,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Trust Point Inc. increased its position in shares of Boot Barn by 0.8% during the third quarter. Trust Point Inc. now owns 9,112 shares of the company’s stock worth $1,524,000 after acquiring an additional 71 shares during the period. Crossmark Global Holdings Inc. increased its holdings in Boot Barn by 3.7% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 2,283 shares of the company’s stock worth $382,000 after purchasing an additional 82 shares during the period. Fisher Asset Management LLC boosted its stake in shares of Boot Barn by 2.0% in the 3rd quarter. Fisher Asset Management LLC now owns 4,192 shares of the company’s stock valued at $701,000 after buying an additional 83 shares during the period. First Horizon Advisors Inc. grew its position in shares of Boot Barn by 11.2% during the second quarter. First Horizon Advisors Inc. now owns 931 shares of the company’s stock worth $120,000 after buying an additional 94 shares in the last quarter. Finally, Shaker Investments LLC OH increased its stake in shares of Boot Barn by 1.6% during the second quarter. Shaker Investments LLC OH now owns 6,452 shares of the company’s stock worth $832,000 after buying an additional 102 shares during the period.

Boot Barn Stock Up 4.2 %

Shares of NYSE BOOT opened at $154.87 on Monday. The business has a 50-day moving average price of $147.46 and a 200 day moving average price of $138.34. The stock has a market cap of $4.73 billion, a PE ratio of 31.10 and a beta of 2.14. Boot Barn Holdings, Inc. has a 52-week low of $68.37 and a 52-week high of $169.83.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.95 earnings per share 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 the consensus estimate of $424.42 million. Boot Barn had a return on equity of 15.89% and a net margin of 8.73%. The company’s revenue was up 13.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.91 earnings per share. Sell-side analysts anticipate that Boot Barn Holdings, Inc. will post 5.48 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Benchmark reiterated a “buy” rating and issued a $192.00 price target on shares of Boot Barn in a research note on Tuesday, October 29th. BTIG Research raised their price objective on shares of Boot Barn from $165.00 to $185.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Craig Hallum downgraded shares of Boot Barn from a “buy” rating to a “hold” rating and boosted their target price for the stock from $154.00 to $162.00 in a research note on Friday, October 25th. Piper Sandler restated an “overweight” rating and issued a $179.00 price target on shares of Boot Barn in a research note on Tuesday, October 29th. Finally, UBS Group upped their price objective on Boot Barn from $127.00 to $165.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.