Primecap Management Co. CA Reduces Stake in Boot Barn Holdings, Inc. (NYSE:BOOT)

Primecap Management Co. CA decreased its holdings in shares of Boot Barn Holdings, Inc. (NYSE:BOOT) by 4.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 60,300 shares of the company’s stock after selling 2,700 shares during the quarter. Primecap Management Co. CA’s holdings in Boot Barn were worth $9,155,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Geode Capital Management LLC boosted its stake in Boot Barn by 1.0% in the third quarter. Geode Capital Management LLC now owns 676,277 shares of the company’s stock valued at $113,150,000 after acquiring an additional 6,369 shares in the last quarter. Dale Q Rice Investment Management Ltd acquired a new stake in shares of Boot Barn in the 4th quarter valued at about $1,544,000. Algert Global LLC grew its stake in Boot Barn by 653.9% during the 3rd quarter. Algert Global LLC now owns 23,001 shares of the company’s stock worth $3,848,000 after buying an additional 19,950 shares during the last quarter. Blueshift Asset Management LLC acquired a new position in Boot Barn during the third quarter worth approximately $3,343,000. Finally, Stephens Investment Management Group LLC purchased a new stake in Boot Barn in the fourth quarter valued at approximately $46,699,000.

Boot Barn Price Performance

BOOT opened at $105.21 on Thursday. Boot Barn Holdings, Inc. has a 12 month low of $84.28 and a 12 month high of $176.64. The stock has a market capitalization of $3.22 billion, a P/E ratio of 18.79, a P/E/G ratio of 1.17 and a beta of 2.07. The business has a 50 day simple moving average of $136.59 and a 200-day simple moving average of $144.98.

Boot Barn (NYSE:BOOT) last released its earnings results on Thursday, January 30th. The company reported $2.43 EPS for the quarter, beating analysts’ consensus estimates of $2.05 by $0.38. Boot Barn had a return on equity of 17.11% and a net margin of 9.36%. Research analysts anticipate that Boot Barn Holdings, Inc. will post 5.82 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on BOOT. Robert W. Baird cut their target price on shares of Boot Barn from $190.00 to $155.00 and set an “outperform” rating on the stock in a report on Wednesday, March 5th. Piper Sandler restated an “overweight” rating and issued a $181.00 price objective (up from $179.00) on shares of Boot Barn in a research note on Friday, January 31st. KeyCorp upgraded shares of Boot Barn from a “sector weight” rating to an “overweight” rating and set a $190.00 target price for the company in a research note on Thursday, January 23rd. UBS Group lowered their price target on Boot Barn from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Finally, Bank of America upped their price objective on Boot Barn from $187.00 to $192.00 and gave the company a “buy” rating in a research note on Wednesday, January 15th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Boot Barn has an average rating of “Moderate Buy” and a consensus target price of $181.92.

Insider Buying and Selling

In related news, CEO John Hazen sold 6,311 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $152.98, for a total value of $965,456.78. Following the completion of the transaction, the chief executive officer now directly owns 3,937 shares of the company’s stock, valued at $602,282.26. This trade represents a 61.58 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.00% of the stock is owned by insiders.

Boot Barn Company 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.