Pier Capital LLC Trims Stock Position in Boot Barn Holdings, Inc. (NYSE:BOOT)

Pier Capital LLC lessened its stake in shares of Boot Barn Holdings, Inc. (NYSE:BOOT) by 9.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 58,135 shares of the company’s stock after selling 5,858 shares during the period. Boot Barn accounts for about 1.3% of Pier Capital LLC’s investment portfolio, making the stock its 29th biggest holding. Pier Capital LLC’s holdings in Boot Barn were worth $8,826,000 as of its most recent filing with the SEC.

A number of other large investors have also recently modified their holdings of BOOT. Victory Capital Management Inc. grew its holdings in Boot Barn by 51.1% during the 3rd quarter. Victory Capital Management Inc. now owns 14,362 shares of the company’s stock worth $2,402,000 after acquiring an additional 4,856 shares in the last quarter. Intech Investment Management LLC boosted its stake in shares of Boot Barn by 128.8% during the third quarter. Intech Investment Management LLC now owns 9,147 shares of the company’s stock valued at $1,530,000 after purchasing an additional 5,149 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Boot Barn by 1.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 352,698 shares of the company’s stock valued at $58,999,000 after purchasing an additional 6,335 shares in the last quarter. Citigroup Inc. increased its holdings in Boot Barn by 37.1% during the third quarter. Citigroup Inc. now owns 57,870 shares of the company’s stock valued at $9,680,000 after buying an additional 15,673 shares during the period. Finally, Cerity Partners LLC raised its stake in Boot Barn by 85.0% in the third quarter. Cerity Partners LLC now owns 2,949 shares of the company’s stock worth $493,000 after buying an additional 1,355 shares in the last quarter.

Boot Barn Stock Up 7.7 %

NYSE:BOOT opened at $112.75 on Tuesday. The stock has a market capitalization of $3.45 billion, a PE ratio of 20.13, a price-to-earnings-growth ratio of 1.17 and a beta of 2.07. The stock’s 50-day moving average price is $133.66 and its 200-day moving average price is $144.49. Boot Barn Holdings, Inc. has a 52 week low of $84.83 and a 52 week high of $176.64.

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

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. UBS Group reduced their target price on shares of Boot Barn from $210.00 to $200.00 and set a “buy” rating for the company in a report on Monday, February 3rd. KeyCorp raised shares of Boot Barn from a “sector weight” rating to an “overweight” rating and set a $190.00 price target on the stock in a report on Thursday, January 23rd. StockNews.com lowered Boot Barn from a “hold” rating to a “sell” rating in a report on Monday, February 17th. JPMorgan Chase & Co. raised their price objective on Boot Barn from $200.00 to $209.00 and gave the stock an “overweight” rating in a research report on Friday, January 31st. Finally, BTIG Research upped their target price on Boot Barn from $185.00 to $190.00 and gave the company a “buy” rating in a research report on Monday, January 13th. One analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $181.92.

Insider Transactions at Boot Barn

In other news, CEO John Hazen sold 6,311 shares of the company’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 sale, the chief executive officer now directly owns 3,937 shares in the company, valued at $602,282.26. This represents a 61.58 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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.