Wellington Management Group LLP Buys 706,518 Shares of Boot Barn Holdings, Inc. (NYSE:BOOT)

Wellington Management Group LLP lifted its stake in Boot Barn Holdings, Inc. (NYSE:BOOT) by 48.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,161,052 shares of the company’s stock after buying an additional 706,518 shares during the quarter. Wellington Management Group LLP owned approximately 7.06% of Boot Barn worth $328,091,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BOOT. Cerity Partners LLC grew its holdings in Boot Barn by 85.0% during the 3rd quarter. Cerity Partners LLC now owns 2,949 shares of the company’s stock valued at $493,000 after buying an additional 1,355 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Boot Barn by 20.6% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,758 shares of the company’s stock valued at $963,000 after acquiring an additional 984 shares during the last quarter. Hilltop Holdings Inc. purchased a new position in shares of Boot Barn in the third quarter valued at $224,000. Readystate Asset Management LP bought a new stake in Boot Barn in the third quarter worth $3,898,000. Finally, Stifel Financial Corp raised its stake in Boot Barn by 5.9% during the third quarter. Stifel Financial Corp now owns 20,592 shares of the company’s stock valued at $3,445,000 after purchasing an additional 1,141 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on BOOT shares. Craig Hallum set a $178.00 target price on shares of Boot Barn in a report on Friday, January 31st. BTIG Research upped their price objective on Boot Barn from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Monday, January 13th. Robert W. Baird lowered their price objective on Boot Barn from $190.00 to $155.00 and set an “outperform” rating for the company in a research note on Wednesday, March 5th. StockNews.com downgraded Boot Barn from a “hold” rating to a “sell” rating in a research report on Monday, February 17th. Finally, JPMorgan Chase & Co. raised their price target on Boot Barn from $200.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. One research analyst has rated the stock with a sell rating, one has given 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $181.92.

Boot Barn Stock Performance

Boot Barn stock opened at $110.98 on Wednesday. The company has a market capitalization of $3.40 billion, a PE ratio of 19.82, a P/E/G ratio of 1.17 and a beta of 2.07. The company has a 50 day moving average price of $127.84 and a 200-day moving average price of $142.83. Boot Barn Holdings, Inc. has a fifty-two week low of $95.28 and a fifty-two week high of $176.64.

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

Insider Transactions at Boot Barn

In other news, CEO John Hazen sold 6,311 shares of Boot Barn stock in a transaction 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 transaction, the chief executive officer now directly owns 3,937 shares in the company, valued at approximately $602,282.26. This trade represents a 61.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

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.