Boot Barn Holdings, Inc. (NYSE:BOOT) Stock Holdings Trimmed by ThornTree Capital Partners LP

ThornTree Capital Partners LP reduced its position in Boot Barn Holdings, Inc. (NYSE:BOOT) by 47.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 50,000 shares of the company’s stock after selling 45,919 shares during the quarter. Boot Barn makes up about 1.0% of ThornTree Capital Partners LP’s investment portfolio, making the stock its 15th biggest holding. ThornTree Capital Partners LP owned approximately 0.16% of Boot Barn worth $7,591,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank of Montreal Can grew its holdings in shares of Boot Barn by 1.4% during the fourth quarter. Bank of Montreal Can now owns 5,936 shares of the company’s stock valued at $901,000 after purchasing an additional 82 shares during the last quarter. Cetera Investment Advisers grew its holdings in shares of Boot Barn by 1.0% during the fourth quarter. Cetera Investment Advisers now owns 8,179 shares of the company’s stock valued at $1,242,000 after purchasing an additional 83 shares during the last quarter. Coldstream Capital Management Inc. grew its holdings in shares of Boot Barn by 7.6% during the fourth quarter. Coldstream Capital Management Inc. now owns 1,367 shares of the company’s stock valued at $208,000 after purchasing an additional 97 shares during the last quarter. Summit Investment Advisors Inc. grew its holdings in shares of Boot Barn by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,096 shares of the company’s stock valued at $470,000 after purchasing an additional 98 shares during the last quarter. Finally, Louisiana State Employees Retirement System grew its holdings in shares of Boot Barn by 0.7% during the fourth quarter. Louisiana State Employees Retirement System now owns 14,800 shares of the company’s stock valued at $2,247,000 after purchasing an additional 100 shares during the last quarter.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Stephens assumed coverage on Boot Barn in a report on Wednesday, April 9th. They set an “overweight” rating and a $100.00 target price for the company. UBS Group increased their price objective on Boot Barn from $156.00 to $210.00 and gave the stock a “buy” rating in a report on Thursday. StockNews.com lowered Boot Barn from a “hold” rating to a “sell” rating in a report on Monday, February 17th. JPMorgan Chase & Co. decreased their price objective on Boot Barn from $209.00 to $196.00 and set an “overweight” rating for the company in a report on Thursday. Finally, KeyCorp decreased their price objective on Boot Barn from $190.00 to $165.00 and set an “overweight” rating for the company in a report on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $170.62.

Boot Barn Price Performance

BOOT opened at $156.99 on Friday. The company has a market capitalization of $4.80 billion, a price-to-earnings ratio of 28.03, a price-to-earnings-growth ratio of 1.17 and a beta of 1.59. Boot Barn Holdings, Inc. has a 1-year low of $86.17 and a 1-year high of $176.64. The business has a 50 day moving average price of $107.05 and a two-hundred day moving average price of $130.04.

Boot Barn (NYSE:BOOT) last released its earnings results on Wednesday, May 14th. The company reported $1.22 earnings per share for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.02). The firm had revenue of $453.75 million during the quarter, compared to analyst estimates of $458.56 million. Boot Barn had a return on equity of 17.11% and a net margin of 9.36%. Equities analysts expect that Boot Barn Holdings, Inc. will post 5.82 EPS for the current fiscal year.

Boot Barn announced that its Board of Directors has approved a share repurchase plan on Wednesday, May 14th that authorizes the company to buyback $200.00 million in shares. This buyback authorization authorizes the company to reacquire up to 4.8% of its stock through open market purchases. Stock buyback plans are often a sign that the company’s board believes its shares are undervalued.

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.