Prudential Financial Inc. Takes Position in Boot Barn Holdings Inc (NYSE:BOOT)

Prudential Financial Inc. acquired a new stake in Boot Barn Holdings Inc (NYSE:BOOT) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 49,673 shares of the company’s stock, valued at approximately $1,770,000.

Other institutional investors have also made changes to their positions in the company. LS Investment Advisors LLC purchased a new position in shares of Boot Barn in the second quarter valued at about $33,000. Nordea Investment Management AB grew its stake in shares of Boot Barn by 2.0% during the first quarter. Nordea Investment Management AB now owns 171,535 shares of the company’s stock valued at $5,050,000 after buying an additional 3,300 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Boot Barn by 43.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,568 shares of the company’s stock valued at $56,000 after buying an additional 476 shares during the last quarter. Virginia Retirement Systems ET AL bought a new position in shares of Boot Barn during the second quarter valued at approximately $264,000. Finally, Hennessy Advisors Inc. bought a new position in shares of Boot Barn during the second quarter valued at approximately $3,475,000.

NYSE:BOOT traded up $0.56 during midday trading on Thursday, hitting $37.08. The stock had a trading volume of 5,886 shares, compared to its average volume of 728,584. Boot Barn Holdings Inc has a one year low of $15.01 and a one year high of $39.59. The company has a market capitalization of $1.05 billion, a price-to-earnings ratio of 29.96, a PEG ratio of 1.30 and a beta of 2.32. The stock has a 50-day moving average of $32.39 and a 200 day moving average of $30.95. The company has a quick ratio of 0.16, a current ratio of 1.14 and a debt-to-equity ratio of 0.93.

Boot Barn (NYSE:BOOT) last announced its quarterly earnings data on Wednesday, July 31st. The company reported $0.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.11. Boot Barn had a return on equity of 15.99% and a net margin of 5.24%. The company had revenue of $185.77 million for the quarter, compared to analysts’ expectations of $179.98 million. During the same quarter in the prior year, the firm earned $0.15 earnings per share. Boot Barn’s revenue was up 14.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Boot Barn Holdings Inc will post 1.66 earnings per share for the current fiscal year.

A number of research analysts have recently commented on the company. DA Davidson assumed coverage on Boot Barn in a research note on Wednesday, June 19th. They set a “buy” rating and a $41.00 target price on the stock. Pivotal Research reaffirmed a “hold” rating and set a $35.00 target price (up previously from $31.00) on shares of Boot Barn in a research note on Thursday, August 1st. Piper Jaffray Companies set a $46.00 target price on Boot Barn and gave the company a “buy” rating in a research note on Friday, September 13th. Zacks Investment Research raised Boot Barn from a “hold” rating to a “strong-buy” rating and set a $38.00 target price on the stock in a research note on Wednesday, July 17th. Finally, Citigroup cut Boot Barn from a “buy” rating to a “neutral” rating and cut their target price for the company from $36.00 to $33.00 in a research note on Monday, July 15th. Five equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Boot Barn presently has an average rating of “Buy” and a consensus price target of $35.10.

In other Boot Barn news, CEO James Grant Conroy sold 14,874 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $32.04, for a total transaction of $476,562.96. Following the sale, the chief executive officer now owns 21,505 shares of the company’s stock, valued at approximately $689,020.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider John Hazen sold 13,619 shares of the stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $33.77, for a total value of $459,913.63. Following the sale, the insider now directly owns 13,619 shares in the company, valued at approximately $459,913.63. The disclosure for this sale can be found here. In the last three months, insiders sold 60,968 shares of company stock worth $2,072,477. 1.70% of the stock is owned by insiders.

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.

Read More: Understanding the Price to Earnings Ratio (PE)

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Institutional Ownership by Quarter for Boot Barn (NYSE:BOOT)

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