Pitcairn Co. Sells 3,688 Shares of Boot Barn Holdings, Inc. (NYSE:BOOT)

Pitcairn Co. trimmed its holdings in shares of Boot Barn Holdings, Inc. (NYSE:BOOT) by 22.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,953 shares of the company’s stock after selling 3,688 shares during the period. Pitcairn Co.’s holdings in Boot Barn were worth $2,167,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. GHP Investment Advisors Inc. bought a new position in shares of Boot Barn during the 3rd quarter valued at about $25,000. GAMMA Investing LLC raised its stake in shares of Boot Barn by 111.1% during the second quarter. GAMMA Investing LLC now owns 266 shares of the company’s stock worth $34,000 after acquiring an additional 140 shares in the last quarter. Canada Pension Plan Investment Board purchased a new position in shares of Boot Barn during the second quarter worth approximately $64,000. 1620 Investment Advisors Inc. purchased a new stake in shares of Boot Barn in the 2nd quarter valued at $84,000. Finally, USA Financial Formulas purchased a new stake in shares of Boot Barn in the 3rd quarter valued at $92,000.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Benchmark restated a “buy” rating and set a $192.00 price target on shares of Boot Barn in a research report on Tuesday, October 29th. Craig Hallum cut Boot Barn from a “buy” rating to a “hold” rating and increased their target price for the company from $154.00 to $162.00 in a report on Friday, October 25th. UBS Group lifted their price target on Boot Barn from $127.00 to $165.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 16th. Williams Trading reissued a “buy” rating and set a $173.00 price objective on shares of Boot Barn in a research note on Tuesday, October 29th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $179.00 target price on shares of Boot Barn in a research note on Tuesday, October 29th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Boot Barn has a consensus rating of “Moderate Buy” and an average target price of $164.55.

Boot Barn Price Performance

Shares of NYSE BOOT opened at $137.05 on Friday. Boot Barn Holdings, Inc. has a 1 year low of $68.37 and a 1 year high of $169.83. The company’s 50-day moving average is $151.42 and its 200 day moving average is $135.73. The stock has a market capitalization of $4.18 billion, a P/E ratio of 27.52 and a beta of 2.16.

Boot Barn (NYSE:BOOT) last posted its 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 the consensus estimate of $424.42 million. During the same quarter in the prior year, the business earned $0.91 EPS. The business’s revenue for the quarter was up 13.7% on a year-over-year basis. Research analysts anticipate that Boot Barn Holdings, Inc. will post 5.48 earnings per share for the current year.

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.