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

Jennison Associates LLC decreased its holdings in shares of Boot Barn Holdings, Inc. (NYSE:BOOT) by 5.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 443,913 shares of the company’s stock after selling 27,960 shares during the period. Jennison Associates LLC’s holdings in Boot Barn were worth $34,075,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Allworth Financial LP boosted its position in Boot Barn by 61,325.0% in the third quarter. Allworth Financial LP now owns 2,457 shares of the company’s stock valued at $199,000 after buying an additional 2,453 shares during the last quarter. SG Americas Securities LLC purchased a new stake in Boot Barn in the fourth quarter valued at approximately $199,000. Pathstone Family Office LLC purchased a new stake in Boot Barn in the third quarter valued at approximately $204,000. Larson Financial Group LLC acquired a new position in Boot Barn in the third quarter valued at approximately $220,000. Finally, J.P. Morgan Private Wealth Advisors LLC lifted its holdings in Boot Barn by 7.7% in the third quarter. J.P. Morgan Private Wealth Advisors LLC now owns 3,056 shares of the company’s stock valued at $248,000 after acquiring an additional 219 shares during the period.

Insider Buying and Selling

In related news, CEO James Grant Conroy sold 19,478 shares of Boot Barn stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $92.38, for a total transaction of $1,799,377.64. Following the completion of the transaction, the chief executive officer now directly owns 46,273 shares of the company’s stock, valued at $4,274,699.74. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, Director Gene Eddie Burt sold 1,000 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $85.03, for a total value of $85,030.00. Following the completion of the transaction, the director now directly owns 1,542 shares of the company’s stock, valued at $131,116.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO James Grant Conroy sold 19,478 shares of Boot Barn stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $92.38, for a total value of $1,799,377.64. Following the completion of the sale, the chief executive officer now directly owns 46,273 shares of the company’s stock, valued at approximately $4,274,699.74. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,339 shares of company stock valued at $2,413,715. 2.20% of the stock is owned by insiders.

Boot Barn Trading Up 0.6 %

Shares of BOOT stock opened at $107.36 on Thursday. The business’s 50 day moving average is $92.85 and its two-hundred day moving average is $81.46. Boot Barn Holdings, Inc. has a twelve month low of $64.33 and a twelve month high of $109.51. The company has a market capitalization of $3.25 billion, a P/E ratio of 19.99 and a beta of 2.19.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings results on Wednesday, January 31st. The company reported $1.81 earnings per share for the quarter, beating analysts’ consensus estimates of $1.80 by $0.01. The firm had revenue of $520.40 million for the quarter, compared to the consensus estimate of $520.34 million. Boot Barn had a return on equity of 19.52% and a net margin of 9.62%. As a group, equities analysts predict that Boot Barn Holdings, Inc. will post 4.73 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BOOT. Robert W. Baird boosted their price target on Boot Barn from $70.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, March 21st. Williams Trading reaffirmed a “hold” rating on shares of Boot Barn in a research note on Tuesday, January 16th. B. Riley reduced their target price on Boot Barn from $92.00 to $83.00 and set a “buy” rating for the company in a research note on Thursday, February 1st. BTIG Research reduced their target price on Boot Barn from $102.00 to $100.00 and set a “buy” rating for the company in a research note on Thursday, February 1st. Finally, KeyCorp initiated coverage on Boot Barn in a research note on Wednesday, February 7th. They set a “sector weight” rating for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $105.56.

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.