abrdn plc Trims Position in Boot Barn Holdings, Inc. (NYSE:BOOT)

abrdn plc cut its holdings in Boot Barn Holdings, Inc. (NYSE:BOOT) by 27.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 149,675 shares of the company’s stock after selling 57,308 shares during the period. abrdn plc owned 0.49% of Boot Barn worth $25,038,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Capital Research Global Investors acquired a new stake in Boot Barn during the first quarter worth about $32,779,000. Janus Henderson Group PLC increased its position in Boot Barn by 1,212.4% during the 1st quarter. Janus Henderson Group PLC now owns 285,174 shares of the company’s stock worth $27,134,000 after purchasing an additional 263,444 shares in the last quarter. Marshall Wace LLP purchased a new position in Boot Barn in the second quarter valued at approximately $19,532,000. Westwood Holdings Group Inc. lifted its position in Boot Barn by 29.4% during the first quarter. Westwood Holdings Group Inc. now owns 545,644 shares of the company’s stock valued at $51,918,000 after buying an additional 124,060 shares in the last quarter. Finally, F M Investments LLC purchased a new stake in Boot Barn during the second quarter worth approximately $14,888,000.

Boot Barn Price Performance

Shares of NYSE BOOT opened at $124.54 on Friday. The firm has a market capitalization of $3.79 billion, a PE ratio of 25.94 and a beta of 2.12. Boot Barn Holdings, Inc. has a 1-year low of $66.73 and a 1-year high of $169.83. The business’s fifty day moving average price is $154.30 and its two-hundred day moving average price is $132.35.

Boot Barn (NYSE:BOOT) last posted its earnings results on Monday, October 28th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.93 by $0.02. Boot Barn had a net margin of 8.89% and a return on equity of 16.44%. The firm had revenue of $425.80 million during the quarter, compared to analyst estimates of $424.42 million. During the same period in the previous year, the business posted $0.91 EPS. Boot Barn’s revenue was up 13.7% on a year-over-year basis. Equities research analysts expect that Boot Barn Holdings, Inc. will post 5.29 earnings per share for the current fiscal year.

Analyst Ratings Changes

BOOT has been the subject of a number of recent research reports. Citigroup lowered their target price on Boot Barn from $194.00 to $178.00 and set a “buy” rating for the company in a research note on Tuesday. Craig Hallum lowered Boot Barn from a “buy” rating to a “hold” rating and upped their target price for the company from $154.00 to $162.00 in a research report on Friday, October 25th. Benchmark restated a “buy” rating and issued a $192.00 price target on shares of Boot Barn in a research note on Tuesday. BTIG Research increased their price target on shares of Boot Barn from $165.00 to $185.00 and gave the stock a “buy” rating in a research report on Tuesday. Finally, Piper Sandler restated an “overweight” rating and set a $179.00 price objective on shares of Boot Barn in a research note on Tuesday. One research analyst has rated the stock with a sell rating, three have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Boot Barn has a consensus rating of “Moderate Buy” and an average target price of $164.55.

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.