Sequoia Financial Advisors LLC Sells 2,431 Shares of Boot Barn Holdings, Inc. (NYSE:BOOT)

Sequoia Financial Advisors LLC lowered its position in shares of Boot Barn Holdings, Inc. (NYSE:BOOT) by 56.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,869 shares of the company’s stock after selling 2,431 shares during the period. Sequoia Financial Advisors LLC’s holdings in Boot Barn were worth $313,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. UniSuper Management Pty Ltd purchased a new position in shares of Boot Barn in the first quarter worth about $695,000. Sei Investments Co. increased its holdings in shares of Boot Barn by 52.5% in the first quarter. Sei Investments Co. now owns 73,884 shares of the company’s stock worth $7,030,000 after buying an additional 25,434 shares during the period. Capital Research Global Investors purchased a new position in shares of Boot Barn in the first quarter worth about $32,779,000. Jennison Associates LLC increased its holdings in shares of Boot Barn by 19.6% in the first quarter. Jennison Associates LLC now owns 530,882 shares of the company’s stock worth $50,513,000 after buying an additional 86,969 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in shares of Boot Barn by 12.8% in the first quarter. Russell Investments Group Ltd. now owns 131,658 shares of the company’s stock worth $12,527,000 after buying an additional 14,980 shares during the period.

Boot Barn Stock Up 2.2 %

Shares of BOOT opened at $161.46 on Tuesday. The business’s 50 day moving average price is $154.70 and its 200-day moving average price is $132.17. Boot Barn Holdings, Inc. has a 52 week low of $66.73 and a 52 week high of $169.83. The stock has a market cap of $4.91 billion, a P/E ratio of 33.64 and a beta of 2.12.

Boot Barn (NYSE:BOOT) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $1.26 EPS for the quarter, topping analysts’ consensus estimates of $1.08 by $0.18. Boot Barn had a return on equity of 16.44% and a net margin of 8.89%. The firm had revenue of $423.40 million for the quarter, compared to analysts’ expectations of $415.04 million. During the same period in the previous year, the firm posted $1.11 EPS. The business’s revenue for the quarter was up 10.3% compared to the same quarter last year. On average, equities analysts anticipate that Boot Barn Holdings, Inc. will post 5.29 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on BOOT. Robert W. Baird boosted their price target on Boot Barn from $140.00 to $167.00 and gave the company a “neutral” rating in a report on Tuesday, October 1st. JPMorgan Chase & Co. boosted their price target on Boot Barn from $146.00 to $160.00 and gave the company an “overweight” rating in a report on Tuesday, September 10th. Citigroup boosted their price target on Boot Barn from $122.00 to $154.00 and gave the company a “buy” rating in a report on Friday, July 19th. BTIG Research boosted their price target on Boot Barn from $150.00 to $165.00 and gave the company a “buy” rating in a report on Tuesday, September 10th. Finally, Craig Hallum downgraded Boot Barn from a “buy” rating to a “hold” rating and boosted their price target for the company from $154.00 to $162.00 in a report on Friday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Boot Barn has a consensus rating of “Hold” and an average target price of $157.20.

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.