Nicholas Investment Partners LP Sells 15,768 Shares of Boot Barn Holdings, Inc. $BOOT

Nicholas Investment Partners LP cut its position in Boot Barn Holdings, Inc. (NYSE:BOOT) by 26.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 43,788 shares of the company’s stock after selling 15,768 shares during the period. Nicholas Investment Partners LP’s holdings in Boot Barn were worth $7,727,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in BOOT. Balyasny Asset Management L.P. boosted its stake in Boot Barn by 2,547.7% in the 3rd quarter. Balyasny Asset Management L.P. now owns 471,192 shares of the company’s stock valued at $78,086,000 after purchasing an additional 453,396 shares during the period. Invesco Ltd. boosted its stake in Boot Barn by 46.3% in the 3rd quarter. Invesco Ltd. now owns 917,406 shares of the company’s stock valued at $152,033,000 after purchasing an additional 290,493 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Boot Barn by 38.5% in the fourth quarter. Goldman Sachs Group Inc. now owns 723,309 shares of the company’s stock valued at $127,642,000 after buying an additional 200,971 shares in the last quarter. Wedge Capital Management L L P NC acquired a new stake in shares of Boot Barn in the fourth quarter valued at approximately $31,113,000. Finally, Lord Abbett & CO. LLC acquired a new stake in shares of Boot Barn in the fourth quarter valued at approximately $26,471,000.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Zacks Research downgraded shares of Boot Barn from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 12th. UBS Group lifted their price target on shares of Boot Barn from $270.00 to $272.00 and gave the company a “buy” rating in a research report on Friday, May 15th. Jefferies Financial Group upgraded shares of Boot Barn from a “hold” rating to a “buy” rating and set a $195.00 price target for the company in a research report on Monday, April 6th. BTIG Research reiterated a “buy” rating and issued a $235.00 price target on shares of Boot Barn in a research report on Friday, May 15th. Finally, Robert W. Baird dropped their price target on shares of Boot Barn from $244.00 to $225.00 and set an “outperform” rating for the company in a research report on Friday, May 15th. Twelve research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $230.83.

Boot Barn Price Performance

Shares of NYSE:BOOT opened at $170.48 on Friday. The company’s 50 day simple moving average is $159.63 and its 200 day simple moving average is $175.99. The stock has a market capitalization of $5.17 billion, a price-to-earnings ratio of 23.19, a price-to-earnings-growth ratio of 1.20 and a beta of 1.70. Boot Barn Holdings, Inc. has a 1 year low of $133.18 and a 1 year high of $210.25.

Boot Barn (NYSE:BOOT) last announced its quarterly earnings data on Thursday, May 14th. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.43 by $0.02. The business had revenue of $538.75 million for the quarter, compared to analysts’ expectations of $531.44 million. Boot Barn had a net margin of 10.02% and a return on equity of 18.15%. The firm’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same period last year, the firm posted $1.22 earnings per share. Boot Barn has set its Q1 2027 guidance at 1.620-1.710 EPS and its FY 2027 guidance at 8.210-8.640 EPS. As a group, analysts anticipate that Boot Barn Holdings, Inc. will post 8.54 EPS for the current fiscal year.

About Boot Barn

Boot Barn, Inc is a leading specialty retailer focused on western and work-related footwear, apparel and accessories. The company operates full-price and outlet retail stores under the Boot Barn and BootBarn.com brands, offering a wide assortment of cowboy boots, work boots, casual and fashion footwear, western and work apparel, hats, belts and related accessories. In addition to its brick-and-mortar network, Boot Barn maintains an e-commerce platform to serve customers seeking ranch-and-rodeo style clothing and rugged workwear from coast to coast.

Founded in 1978 in Southern California, Boot Barn began as a single store catering to ranchers, farmworkers and western enthusiasts.