Jennison Associates LLC Sells 47,503 Shares of Boot Barn Holdings, Inc. $BOOT

Jennison Associates LLC decreased its position in shares of Boot Barn Holdings, Inc. (NYSE:BOOT) by 16.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 248,590 shares of the company’s stock after selling 47,503 shares during the period. Jennison Associates LLC’s holdings in Boot Barn were worth $36,384,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Los Angeles Capital Management LLC acquired a new position in shares of Boot Barn during the fourth quarter worth $29,000. Caitong International Asset Management Co. Ltd purchased a new stake in Boot Barn during the third quarter worth $49,000. Danske Bank A S boosted its holdings in Boot Barn by 200.0% during the fourth quarter. Danske Bank A S now owns 300 shares of the company’s stock worth $53,000 after buying an additional 200 shares in the last quarter. Hantz Financial Services Inc. grew its position in Boot Barn by 284.1% during the fourth quarter. Hantz Financial Services Inc. now owns 338 shares of the company’s stock valued at $60,000 after buying an additional 250 shares during the period. Finally, Johnson Financial Group Inc. acquired a new stake in Boot Barn during the third quarter valued at $60,000.

Boot Barn Stock Performance

Shares of NYSE BOOT opened at $149.41 on Tuesday. The firm has a fifty day moving average of $161.73 and a 200 day moving average of $170.24. The firm has a market cap of $4.53 billion, a PE ratio of 20.33, a PEG ratio of 1.07 and a beta of 1.69. Boot Barn Holdings, Inc. has a one year low of $133.18 and a one year high of $210.25.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings data on Thursday, May 14th. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.43 by $0.02. Boot Barn had a net margin of 10.02% and a return on equity of 18.15%. The business had revenue of $538.75 million for the quarter, compared to the consensus estimate of $531.43 million. During the same period last year, the firm posted $1.22 earnings per share. The company’s revenue was up 18.7% compared to the same quarter last year. Boot Barn has set its Q1 2027 guidance at 1.620-1.710 EPS and its FY 2027 guidance at 8.210-8.640 EPS. On average, equities analysts predict that Boot Barn Holdings, Inc. will post 8.56 EPS for the current fiscal year.

Analysts Set New Price Targets

BOOT has been the subject of a number of analyst reports. Piper Sandler decreased their price objective on shares of Boot Barn from $230.00 to $226.00 and set an “overweight” rating for the company in a research report on Friday, May 15th. Weiss Ratings cut Boot Barn from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 18th. BTIG Research restated a “buy” rating and issued a $235.00 price target on shares of Boot Barn in a research note on Friday, May 15th. Jefferies Financial Group raised Boot Barn from a “hold” rating to a “buy” rating and set a $195.00 price target for the company in a report on Monday, April 6th. Finally, UBS Group set a $225.00 price target on Boot Barn in a research report on Wednesday, June 17th. Twelve research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $226.92.

Boot Barn Company Profile

Boot Barn, Inc is a leading specialty retailer focused on western and work-related footwear, apparel and accessories. The company operates full-price and outlet retail stores under the Boot Barn and BootBarn.com brands, offering a wide assortment of cowboy boots, work boots, casual and fashion footwear, western and work apparel, hats, belts and related accessories. In addition to its brick-and-mortar network, Boot Barn maintains an e-commerce platform to serve customers seeking ranch-and-rodeo style clothing and rugged workwear from coast to coast.

Founded in 1978 in Southern California, Boot Barn began as a single store catering to ranchers, farmworkers and western enthusiasts.