Victory Capital Management Inc. acquires 343,775 shares of Boot Barn Holdings, Inc. (NYSE:BOOT)

userAugust 3, 2022

Victory Capital Management Inc. increased its stake in Boot Barn Holdings, Inc. (NYSE: BOOT – Get a rating) by 3057.7% in 1 quarter, Holdings Channel reports. The firm owned 355,018 shares of the company’s stock after purchasing an additional 343,775 shares during the quarter. Holdings of Victory Capital Management Inc. in Boot Barn were worth $33,580,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Lazard Asset Management LLC bought a new stake in shares of Boot Barn during the 4th quarter worth about $68,000. Focused Wealth Management Inc acquired a new position in Boot Barn during the 1st quarter worth about $76,000. First Horizon Advisors Inc. grew its stake in Boot Barn by 40.9% during the 4th quarter. First Horizon Advisors Inc. now owns 878 shares of the company’s stock valued at $106,000 after buying an additional 255 shares during the period. Nisa Investment Advisors LLC bought a new position in Boot Barn during the 1st quarter worth about $136,000. Finally, UMB Bank NA MO acquired a new position in Boot Barn during the 4th quarter worth about $165,000.

Insider Buying and Selling at Boot Barn

In other news, the director Peter Starrett acquired 1,200 shares of Boot Barn stock in a transaction on Friday, May 27th. The shares were purchased at an average price of $80.89 per share, for a total value of $97,068.00. Following the completion of the acquisition, the director now owns 10,799 shares in the company, valued at $873,531.11. The acquisition was disclosed in a legal filing with the Securities and Exchange Commission, which is available via this link. In related news, the director Peter Starrett purchased 1,200 shares of the company’s stock in a transaction that occurred on Friday, May 27th. The stock was purchased at an average price of $80.89 per share, for a total value of $97,068.00. Following the completion of the acquisition, the director now directly owns 10,799 shares in the company, valued at $873,531.11. The purchase was disclosed in a document filed with the SEC, which is available via this hyperlink. Also, an insider John Hazen sold 6,312 shares of the firm’s stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $74.51 for a total value of $470,307.12. Following the completion of the transaction, the insider now directly owns 6,653 shares in the company, valued at $495,715.03. Disclosures for this sale can be found here here. Insiders have sold 10,506 shares of company stock worth $781,292 over the last ninety days. Company insiders own 1.20% of the company’s shares.

Boot Barn Trading is down 1.9%

Actions BOOT opened at $60.34 on Wednesday. The company has a market cap of $1.80 billion, a price-to-earnings ratio of 9.61, a PEG ratio of 0.52 and a beta of 2.55. The stock has a 50-day moving average of $73.78 and a 200-day moving average of $84.80. Boot Barn Holdings, Inc. has a 12 month low of $58.51 and a 12 month high of $134.50.

Boot Barn (NYSE: BOOT – Get a rating) last announced its quarterly earnings data on Tuesday, May 10th. The company reported $1.47 earnings per share for the quarter, topping the consensus estimate of $1.32 by $0.15. Boot Barn had a return on equity of 33.09% and a net margin of 12.35%. The company had revenue of $383.31 million for the quarter, compared to analyst estimates of $354.02 million. During the same period last year, the company earned $0.75 in earnings per share. Boot Barn’s revenue was up 48.1% compared to the same quarter last year. As a group, equities research analysts predict that Boot Barn Holdings, Inc. will post 6.04 earnings per share for the current year.

Analysts set new price targets

A number of analysts have recently commented on the company. Cowen reduced their price target on Boot Barn from $140.00 to $90.00 in a research note on Thursday, July 28th. Piper Sandler cut their price objective on Boot Barn from $132.00 to $98.00 and set an “overweight” rating on the stock in a report on Thursday, July 28th. Robert W. Baird cut their price objective on Boot Barn from $115.00 to $90.00 and set a “hold” rating for the company in a research note on Tuesday, July 26th. UBS Group reduced their price objective on Boot Barn from $80.00 to $70.00 and set a “neutral” rating for the company in a research note on Monday. Finally, Cowen cut their price objective on Boot Barn from $140.00 to $90.00 in a research note on Thursday, July 28th. One analyst has rated the stock with a “sell” rating, two have issued a hold rating and seven have given a “buy” rating to the stock. The stock currently has an average rating of “Moderate Buy” and a consensus price target of $110.40, according to MarketBeat.com.

Boot Barn Company Profile

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Boot Barn Holdings, Inc., a lifestyle retail chain, operates specialty retail stores in the United States. The company’s specialty stores offer western and work shoes, clothing and accessories for men, women and children. It offers shoes, shirts, jackets, hats, belts and buckles, handbags, western-style jewelry, footwear, outerwear, overalls, denim, as well as fire-resistant and high-visibility clothing.