Raymond James Financial Inc. Purchases New Holdings in Boot Barn Holdings, Inc. (NYSE:BOOT)

Raymond James Financial Inc. purchased a new stake in shares of Boot Barn Holdings, Inc. (NYSE:BOOT) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 279,542 shares of the company’s stock, valued at approximately $42,440,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BOOT. Blue Trust Inc. boosted 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 valued at $26,000 after purchasing an additional 143 shares in the last quarter. Assetmark Inc. boosted its holdings in Boot Barn by 45.2% during the fourth quarter. Assetmark Inc. now owns 363 shares of the company’s stock valued at $55,000 after purchasing an additional 113 shares in the last quarter. R Squared Ltd acquired a new stake in Boot Barn during the fourth quarter valued at approximately $102,000. Smartleaf Asset Management LLC boosted its holdings in Boot Barn by 212.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 749 shares of the company’s stock valued at $115,000 after purchasing an additional 509 shares in the last quarter. Finally, KBC Group NV boosted its holdings in Boot Barn by 23.3% during the third quarter. KBC Group NV now owns 951 shares of the company’s stock valued at $159,000 after purchasing an additional 180 shares in the last quarter.

Boot Barn Stock Performance

Shares of Boot Barn stock opened at $102.41 on Thursday. The firm has a fifty day moving average of $142.09 and a two-hundred day moving average of $146.22. The stock has a market capitalization of $3.13 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 1.17 and a beta of 2.07. Boot Barn Holdings, Inc. has a 52 week low of $82.67 and a 52 week high of $176.64.

Boot Barn (NYSE:BOOT) last issued its earnings results on Thursday, January 30th. The company reported $2.43 EPS for the quarter, beating the consensus estimate of $2.05 by $0.38. Boot Barn had a net margin of 9.36% and a return on equity of 17.11%. As a group, research analysts forecast that Boot Barn Holdings, Inc. will post 5.82 EPS for the current fiscal year.

Insider Buying and Selling at Boot Barn

In other Boot Barn news, CEO John Hazen sold 6,311 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $152.98, for a total transaction of $965,456.78. Following the completion of the sale, the chief executive officer now owns 3,937 shares in the company, valued at approximately $602,282.26. The trade was a 61.58 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Piper Sandler reaffirmed an “overweight” rating and set a $181.00 price objective (up from $179.00) on shares of Boot Barn in a report on Friday, January 31st. KeyCorp raised Boot Barn from a “sector weight” rating to an “overweight” rating and set a $190.00 target price on the stock in a report on Thursday, January 23rd. JPMorgan Chase & Co. boosted their target price on Boot Barn from $200.00 to $209.00 and gave the stock an “overweight” rating in a report on Friday, January 31st. UBS Group reduced their target price on Boot Barn from $210.00 to $200.00 and set a “buy” rating on the stock in a report on Monday, February 3rd. Finally, Craig Hallum set a $178.00 target price on Boot Barn in a report on Friday, January 31st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $181.92.

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.