Kennedy Capital Management LLC Takes $17.67 Million Position in Boot Barn Holdings, Inc. (NYSE:BOOT)

Kennedy Capital Management LLC acquired a new stake in Boot Barn Holdings, Inc. (NYSE:BOOT) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 116,357 shares of the company’s stock, valued at approximately $17,665,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in BOOT. Signaturefd LLC boosted its holdings in shares of Boot Barn by 201.8% during the 4th quarter. Signaturefd LLC now owns 166 shares of the company’s stock worth $25,000 after buying an additional 111 shares during the period. Blue Trust Inc. raised its holdings in Boot Barn by 1,430.0% during the fourth quarter. Blue Trust Inc. now owns 153 shares of the company’s stock worth $26,000 after buying an additional 143 shares during the last quarter. Assetmark Inc. raised its holdings in shares of Boot Barn by 45.2% in the fourth quarter. Assetmark Inc. now owns 363 shares of the company’s stock valued at $55,000 after purchasing an additional 113 shares during the last quarter. R Squared Ltd bought a new position in Boot Barn during the fourth quarter valued at about $102,000. Finally, Smartleaf Asset Management LLC boosted its position in Boot Barn by 212.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 749 shares of the company’s stock worth $115,000 after purchasing an additional 509 shares during the period.

Boot Barn Trading Up 12.5 %

Shares of NYSE BOOT opened at $103.40 on Thursday. The company has a fifty day moving average price of $116.79 and a 200 day moving average price of $139.66. Boot Barn Holdings, Inc. has a 1-year low of $88.23 and a 1-year high of $176.64. The firm has a market cap of $3.16 billion, a PE ratio of 18.46, a PEG ratio of 1.17 and a beta of 1.75.

Boot Barn (NYSE:BOOT) last issued its earnings results on Thursday, January 30th. The company reported $2.43 earnings per share for the quarter, beating 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%. Equities research analysts forecast that Boot Barn Holdings, Inc. will post 5.82 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on BOOT shares. UBS Group lowered their price objective 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. Craig Hallum set a $178.00 target price on shares of Boot Barn in a research note on Friday, January 31st. Robert W. Baird reduced their target price on shares of Boot Barn from $190.00 to $155.00 and set an “outperform” rating for the company in a report on Wednesday, March 5th. JPMorgan Chase & Co. raised their target price on shares of Boot Barn from $200.00 to $209.00 and gave the company an “overweight” rating in a report on Friday, January 31st. Finally, Piper Sandler restated an “overweight” rating and issued a $181.00 price target (up from $179.00) on shares of Boot Barn 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, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $175.62.

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.