Canada Pension Plan Investment Board Cuts Stock Position in Boot Barn Holdings, Inc. (NYSE:BOOT)

Canada Pension Plan Investment Board trimmed its position in shares of Boot Barn Holdings, Inc. (NYSE:BOOT) by 73.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,800 shares of the company’s stock after selling 10,600 shares during the quarter. Canada Pension Plan Investment Board’s holdings in Boot Barn were worth $577,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of BOOT. Farringdon Capital Ltd. purchased a new position in shares of Boot Barn during the fourth quarter worth approximately $214,000. Barclays PLC lifted its stake in Boot Barn by 12.1% in the fourth quarter. Barclays PLC now owns 58,093 shares of the company’s stock worth $8,820,000 after purchasing an additional 6,288 shares during the last quarter. Summit Investment Advisors Inc. boosted its position in Boot Barn by 3.3% during the fourth quarter. Summit Investment Advisors Inc. now owns 3,096 shares of the company’s stock valued at $470,000 after buying an additional 98 shares during the period. Grandeur Peak Global Advisors LLC bought a new position in shares of Boot Barn during the fourth quarter valued at about $7,316,000. Finally, Sterling Capital Management LLC increased its holdings in shares of Boot Barn by 13.5% in the fourth quarter. Sterling Capital Management LLC now owns 16,637 shares of the company’s stock worth $2,526,000 after buying an additional 1,974 shares during the period.

Boot Barn Price Performance

NYSE:BOOT opened at $102.17 on Friday. Boot Barn Holdings, Inc. has a 1-year low of $86.17 and a 1-year high of $176.64. The company has a market capitalization of $3.13 billion, a PE ratio of 18.24, a P/E/G ratio of 1.17 and a beta of 1.75. The firm’s 50-day moving average price is $107.13 and its 200-day moving average price is $134.45.

Boot Barn (NYSE:BOOT) last announced its quarterly earnings data on Thursday, January 30th. The company reported $2.43 earnings per share for the quarter, topping 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 analysts anticipate that Boot Barn Holdings, Inc. will post 5.82 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Bank of America raised their price target on Boot Barn from $187.00 to $192.00 and gave the stock a “buy” rating in a research report on Wednesday, January 15th. Robert W. Baird lowered their price target on shares of Boot Barn from $133.00 to $120.00 and set an “outperform” rating for the company in a report on Wednesday. JPMorgan Chase & Co. boosted their price objective on shares of Boot Barn from $200.00 to $209.00 and gave the company an “overweight” rating in a research report on Friday, January 31st. Piper Sandler reiterated an “overweight” rating and set a $181.00 target price (up from $179.00) on shares of Boot Barn in a report on Friday, January 31st. Finally, Stephens assumed coverage on Boot Barn in a report on Wednesday, April 9th. They set an “overweight” rating and a $100.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Boot Barn has a consensus rating of “Moderate Buy” and an average price target of $169.23.

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.