South Dakota Investment Council Cuts Stock Position in Boot Barn Holdings, Inc. (NYSE:BOOT)

South Dakota Investment Council trimmed its holdings in Boot Barn Holdings, Inc. (NYSE:BOOT) by 21.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,223 shares of the company’s stock after selling 1,400 shares during the period. South Dakota Investment Council’s holdings in Boot Barn were worth $793,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in BOOT. Stephens Investment Management Group LLC purchased a new position in shares of Boot Barn in the fourth quarter worth $46,699,000. Artemis Investment Management LLP bought a new stake in Boot Barn in the 4th quarter valued at $36,361,000. TimesSquare Capital Management LLC lifted its stake in Boot Barn by 134.5% in the 4th quarter. TimesSquare Capital Management LLC now owns 289,641 shares of the company’s stock worth $43,973,000 after purchasing an additional 166,121 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of Boot Barn by 92.3% during the 4th quarter. Jennison Associates LLC now owns 340,550 shares of the company’s stock valued at $51,702,000 after purchasing an additional 163,451 shares during the last quarter. Finally, State Street Corp grew its position in shares of Boot Barn by 4.4% during the third quarter. State Street Corp now owns 1,208,345 shares of the company’s stock valued at $202,132,000 after purchasing an additional 51,356 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. KeyCorp raised Boot Barn from a “sector weight” rating to an “overweight” rating and set a $190.00 price target for the company in a research note on Thursday, January 23rd. JPMorgan Chase & Co. increased their target price on Boot Barn from $200.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Williams Trading restated a “buy” rating and issued a $173.00 price target on shares of Boot Barn in a research report on Tuesday, October 29th. BTIG Research increased their price objective on shares of Boot Barn from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Finally, Piper Sandler reissued an “overweight” rating and issued a $181.00 price objective (up from $179.00) on shares of Boot Barn in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $184.83.

Insider Activity at Boot Barn

In related news, CEO John Hazen sold 6,311 shares of Boot Barn stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $152.98, for a total transaction of $965,456.78. Following the completion of 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.00% of the stock is owned by company insiders.

Boot Barn Trading Down 3.1 %

BOOT stock opened at $128.11 on Monday. The stock has a market cap of $3.92 billion, a PE ratio of 22.88, a P/E/G ratio of 1.17 and a beta of 2.10. Boot Barn Holdings, Inc. has a 12 month low of $82.67 and a 12 month high of $176.64. The company has a 50-day moving average price of $151.12 and a 200 day moving average price of $148.25.

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, 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%. Sell-side analysts forecast that Boot Barn Holdings, Inc. will post 5.82 EPS 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.