Sterling Capital Management LLC Decreases Stake in Boot Barn Holdings, Inc. $BOOT

Sterling Capital Management LLC cut its holdings in shares of Boot Barn Holdings, Inc. (NYSE:BOOT) by 44.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,284 shares of the company’s stock after selling 4,238 shares during the period. Sterling Capital Management LLC’s holdings in Boot Barn were worth $773,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of BOOT. Royal Bank of Canada grew its stake in Boot Barn by 50.3% during the 1st quarter. Royal Bank of Canada now owns 34,676 shares of the company’s stock valued at $3,725,000 after purchasing an additional 11,598 shares in the last quarter. AQR Capital Management LLC raised its position in shares of Boot Barn by 198.0% in the 1st quarter. AQR Capital Management LLC now owns 8,906 shares of the company’s stock valued at $957,000 after purchasing an additional 5,917 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Boot Barn by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,628 shares of the company’s stock valued at $1,894,000 after buying an additional 779 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Boot Barn by 23.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 323,664 shares of the company’s stock valued at $34,771,000 after buying an additional 61,719 shares during the last quarter. Finally, United Services Automobile Association acquired a new stake in shares of Boot Barn during the first quarter worth approximately $209,000.

Boot Barn Price Performance

Boot Barn stock opened at $162.49 on Thursday. The company has a market cap of $4.93 billion, a PE ratio of 22.11, a P/E/G ratio of 1.15 and a beta of 1.69. The company has a fifty day moving average price of $164.06 and a two-hundred day moving average price of $173.37. Boot Barn Holdings, Inc. has a 12 month low of $133.18 and a 12 month high of $210.25.

Boot Barn (NYSE:BOOT) last released its earnings results on Thursday, May 14th. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.43 by $0.02. Boot Barn had a net margin of 10.02% and a return on equity of 18.15%. The firm had revenue of $538.75 million during the quarter, compared to analyst estimates of $531.43 million. During the same quarter in the previous year, the firm earned $1.22 earnings per share. The firm’s revenue for the quarter was up 18.7% compared to the same quarter last year. 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. Equities research analysts anticipate that Boot Barn Holdings, Inc. will post 8.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Bank of America dropped their price target on shares of Boot Barn from $224.00 to $206.00 and set a “buy” rating for the company in a research note on Friday, May 15th. Weiss Ratings lowered shares of Boot Barn from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 18th. Piper Sandler dropped their target price on shares of Boot Barn from $230.00 to $226.00 and set an “overweight” rating for the company in a research report on Friday, May 15th. Zacks Research downgraded shares of Boot Barn from a “strong-buy” rating to a “hold” rating in a research report on Thursday, March 12th. Finally, TD Cowen restated a “buy” rating on shares of Boot Barn in a research note on Wednesday, June 17th. Twelve analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $226.92.

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.