Jennison Associates LLC Grows Position in Boot Barn Holdings, Inc. (NYSE:BOOT)

Jennison Associates LLC increased its position in Boot Barn Holdings, Inc. (NYSE:BOOT) by 92.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 340,550 shares of the company’s stock after buying an additional 163,451 shares during the quarter. Jennison Associates LLC’s holdings in Boot Barn were worth $51,702,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. OLD National Bancorp IN increased its position in shares of Boot Barn by 6.2% in the fourth quarter. OLD National Bancorp IN now owns 2,230 shares of the company’s stock valued at $339,000 after acquiring an additional 130 shares during the period. R Squared Ltd bought a new stake in shares of Boot Barn in the fourth quarter worth about $102,000. Moody Aldrich Partners LLC increased its holdings in Boot Barn by 129.5% during the 4th quarter. Moody Aldrich Partners LLC now owns 49,411 shares of the company’s stock valued at $7,502,000 after purchasing an additional 27,880 shares during the period. Mount Yale Investment Advisors LLC bought a new position in Boot Barn during the 4th quarter valued at approximately $355,000. Finally, KBC Group NV lifted its holdings in Boot Barn by 28.5% in the 4th quarter. KBC Group NV now owns 1,222 shares of the company’s stock worth $186,000 after buying an additional 271 shares during the period.

Boot Barn Trading Down 0.8 %

Shares of NYSE:BOOT opened at $144.40 on Wednesday. Boot Barn Holdings, Inc. has a 12-month low of $80.33 and a 12-month high of $176.64. The stock has a market capitalization of $4.41 billion, a price-to-earnings ratio of 25.78, a PEG ratio of 1.45 and a beta of 2.10. The stock has a fifty day simple moving average of $153.52 and a two-hundred day simple moving average of $147.14.

Boot Barn (NYSE:BOOT) last announced its quarterly earnings results on Thursday, January 30th. The company reported $2.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.05 by $0.38. Boot Barn had a net margin of 9.36% and a return on equity of 17.11%. As a group, equities research analysts predict that Boot Barn Holdings, Inc. will post 5.84 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on BOOT. Robert W. Baird raised Boot Barn from a “neutral” rating to an “outperform” rating and set a $167.00 target price on the stock in a research note on Wednesday, October 30th. Piper Sandler restated an “overweight” rating and issued a $181.00 price objective (up from $179.00) on shares of Boot Barn in a report on Friday, January 31st. UBS Group cut their target price on shares of Boot Barn from $210.00 to $200.00 and set a “buy” rating on the stock in a research note on Monday. StockNews.com raised shares of Boot Barn from a “sell” rating to a “hold” rating in a research note on Monday. Finally, Benchmark restated a “buy” rating and issued a $192.00 price objective on shares of Boot Barn in a report on Tuesday, October 29th. Two investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $181.58.

Insider Activity at Boot Barn

In related news, CEO John Hazen sold 6,311 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $152.98, for a total transaction of $965,456.78. Following the sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.00% of the stock is owned by insiders.

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.