Oak Ridge Investments LLC Trims Holdings in Boot Barn Holdings, Inc. (NYSE:BOOT)

Oak Ridge Investments LLC lowered its stake in shares of Boot Barn Holdings, Inc. (NYSE:BOOT) by 3.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 14,512 shares of the company’s stock after selling 472 shares during the period. Oak Ridge Investments LLC’s holdings in Boot Barn were worth $2,203,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Edgestream Partners L.P. boosted its position in shares of Boot Barn by 14.4% during the second quarter. Edgestream Partners L.P. now owns 3,637 shares of the company’s stock worth $469,000 after buying an additional 457 shares during the period. Argent Trust Co acquired a new position in Boot Barn during the 2nd quarter worth about $276,000. Intech Investment Management LLC purchased a new position in Boot Barn during the 2nd quarter valued at about $515,000. Canada Pension Plan Investment Board acquired a new position in Boot Barn in the 2nd quarter valued at about $64,000. Finally, Sei Investments Co. increased its stake in Boot Barn by 39.3% during the second quarter. Sei Investments Co. now owns 102,933 shares of the company’s stock worth $13,271,000 after purchasing an additional 29,049 shares during the period.

Boot Barn Trading Up 4.6 %

Shares of Boot Barn stock opened at $160.28 on Friday. The company has a fifty day simple moving average of $146.85 and a 200-day simple moving average of $143.83. Boot Barn Holdings, Inc. has a 12-month low of $69.35 and a 12-month high of $169.83. The stock has a market cap of $4.89 billion, a price-to-earnings ratio of 32.19, a PEG ratio of 1.59 and a beta of 2.10.

Boot Barn (NYSE:BOOT) last issued its quarterly earnings data on Monday, October 28th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.02. Boot Barn had a return on equity of 15.89% and a net margin of 8.73%. The company had revenue of $425.80 million for the quarter, compared to analyst estimates of $424.42 million. During the same quarter last year, the company posted $0.91 earnings per share. The business’s quarterly revenue was up 13.7% compared to the same quarter last year. On average, analysts forecast that Boot Barn Holdings, Inc. will post 5.48 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently weighed in on BOOT shares. BTIG Research lifted their price objective on shares of Boot Barn from $185.00 to $190.00 and gave the company a “buy” rating in a report on Monday, January 13th. Williams Trading reaffirmed a “buy” rating and set a $173.00 price objective on shares of Boot Barn in a research report on Tuesday, October 29th. UBS Group upgraded Boot Barn from a “neutral” rating to a “buy” rating and increased their price objective for the company from $155.00 to $210.00 in a research note on Friday, January 10th. JPMorgan Chase & Co. upped their price target on Boot Barn from $181.00 to $188.00 and gave the stock an “overweight” rating in a report on Wednesday, January 8th. Finally, Bank of America increased their price target on Boot Barn from $187.00 to $192.00 and gave the company a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, two have given a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Boot Barn presently has a consensus rating of “Moderate Buy” and an average target price of $171.58.

Insiders Place Their Bets

In other news, CEO John Hazen sold 6,311 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $152.98, for a total value of $965,456.78. Following the completion of the sale, the chief executive officer now directly owns 3,937 shares of the company’s stock, valued at approximately $602,282.26. This represents a 61.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.00% of the stock is currently owned by corporate insiders.

Boot Barn 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.