Shellback Capital LP Has $16.75 Million Stock Holdings in Boot Barn Holdings, Inc. (NYSE:BOOT)

Shellback Capital LP increased its holdings in Boot Barn Holdings, Inc. (NYSE:BOOT) by 123.7% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 110,300 shares of the company’s stock after purchasing an additional 61,000 shares during the period. Boot Barn makes up 1.2% of Shellback Capital LP’s portfolio, making the stock its 26th biggest position. Shellback Capital LP owned about 0.36% of Boot Barn worth $16,746,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in BOOT. Miracle Mile Advisors LLC acquired a new position in Boot Barn in the fourth quarter worth about $322,000. Park Avenue Securities LLC increased its holdings in shares of Boot Barn by 26.7% during the fourth quarter. Park Avenue Securities LLC now owns 1,858 shares of the company’s stock worth $282,000 after buying an additional 391 shares in the last quarter. Artemis Investment Management LLP acquired a new stake in shares of Boot Barn during the fourth quarter worth approximately $36,361,000. Mitsubishi UFJ Asset Management UK Ltd. increased its holdings in shares of Boot Barn by 85.7% during the fourth quarter. Mitsubishi UFJ Asset Management UK Ltd. now owns 13,000 shares of the company’s stock worth $1,974,000 after buying an additional 6,000 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in shares of 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 in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Bank of America raised their price objective on shares of Boot Barn from $160.00 to $173.00 and gave the stock a “buy” rating in a report on Thursday. UBS Group increased their price target on shares of Boot Barn from $156.00 to $210.00 and gave the company a “buy” rating in a research note on Thursday. JPMorgan Chase & Co. decreased their price target on shares of Boot Barn from $209.00 to $196.00 and set an “overweight” rating on the stock in a research note on Thursday. StockNews.com cut shares of Boot Barn from a “hold” rating to a “sell” rating in a research note on Monday, February 17th. Finally, KeyCorp decreased their price target on shares of Boot Barn from $190.00 to $165.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 29th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $170.46.

Boot Barn Stock Performance

Shares of BOOT stock opened at $154.80 on Friday. Boot Barn Holdings, Inc. has a 52-week low of $86.17 and a 52-week high of $176.64. The stock has a market cap of $4.74 billion, a PE ratio of 27.64, a PEG ratio of 1.17 and a beta of 1.59. The firm’s 50 day moving average price is $105.94 and its two-hundred day moving average price is $129.83.

Boot Barn (NYSE:BOOT) last announced its quarterly earnings data on Wednesday, May 14th. The company reported $1.22 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.24 by ($0.02). Boot Barn had a net margin of 9.36% and a return on equity of 17.11%. The business had revenue of $453.75 million during the quarter, compared to the consensus estimate of $458.56 million. As a group, sell-side analysts predict that Boot Barn Holdings, Inc. will post 5.82 earnings per share for the current fiscal year.

Boot Barn declared that its Board of Directors has authorized a share repurchase program on Wednesday, May 14th that permits the company to buyback $200.00 million in outstanding shares. This buyback authorization permits the company to repurchase up to 4.8% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.

Boot Barn 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.