Federated Hermes Inc. Buys Shares of 80,900 Boot Barn Holdings, Inc. $BOOT

Federated Hermes Inc. purchased a new position in shares of Boot Barn Holdings, Inc. (NYSE:BOOT) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 80,900 shares of the company’s stock, valued at approximately $13,407,000.

A number of other large investors have also made changes to their positions in the company. ORG Partners LLC acquired a new stake in Boot Barn during the 3rd quarter worth $25,000. Bessemer Group Inc. increased its holdings in shares of Boot Barn by 134.2% in the second quarter. Bessemer Group Inc. now owns 185 shares of the company’s stock worth $28,000 after acquiring an additional 106 shares in the last quarter. Parkside Financial Bank & Trust raised its position in shares of Boot Barn by 164.4% during the third quarter. Parkside Financial Bank & Trust now owns 193 shares of the company’s stock worth $32,000 after purchasing an additional 120 shares during the period. Salomon & Ludwin LLC bought a new position in shares of Boot Barn during the 3rd quarter valued at about $42,000. Finally, Independence Bank of Kentucky bought a new position in shares of Boot Barn during the 3rd quarter valued at about $46,000.

Analysts Set New Price Targets

BOOT has been the subject of a number of research reports. The Goldman Sachs Group began coverage on Boot Barn in a research note on Thursday, December 11th. They set a “buy” rating and a $225.00 target price for the company. Seaport Research Partners downgraded shares of Boot Barn from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 27th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Boot Barn in a research report on Wednesday, January 21st. Citigroup increased their target price on Boot Barn from $225.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, January 16th. Finally, JPMorgan Chase & Co. lifted their price target on Boot Barn from $276.00 to $282.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Eleven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, Boot Barn has an average rating of “Moderate Buy” and a consensus price target of $206.08.

Boot Barn Trading Up 2.2%

Boot Barn stock opened at $178.58 on Friday. Boot Barn Holdings, Inc. has a 1-year low of $86.17 and a 1-year high of $210.25. The company has a fifty day simple moving average of $191.21 and a 200 day simple moving average of $181.95. The company has a market cap of $5.44 billion, a P/E ratio of 26.42, a price-to-earnings-growth ratio of 1.30 and a beta of 1.61.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings data on Wednesday, October 29th. The company reported $1.37 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.11. The company had revenue of $505.40 million during the quarter, compared to the consensus estimate of $493.70 million. Boot Barn had a net margin of 10.05% and a return on equity of 18.11%. The company’s quarterly revenue was up 18.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.95 EPS. On average, equities research analysts forecast that Boot Barn Holdings, Inc. will post 5.82 EPS for the current year.

Insider Transactions at Boot Barn

In other Boot Barn news, Director Gene Eddie Burt sold 1,200 shares of the business’s stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $191.41, for a total transaction of $229,692.00. Following the transaction, the director owned 3,338 shares of the company’s stock, valued at $638,926.58. The trade was a 26.44% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Peter Starrett sold 6,498 shares of the stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $190.00, for a total value of $1,234,620.00. Following the completion of the sale, the chairman directly owned 9,599 shares of the company’s stock, valued at approximately $1,823,810. The trade was a 40.37% decrease in their position. The SEC filing for this sale provides additional information. 0.66% of the stock is currently owned by insiders.

Boot Barn Company Profile

Boot Barn, Inc is a leading specialty retailer focused on western and work-related footwear, apparel and accessories. The company operates full-price and outlet retail stores under the Boot Barn and BootBarn.com brands, offering a wide assortment of cowboy boots, work boots, casual and fashion footwear, western and work apparel, hats, belts and related accessories. In addition to its brick-and-mortar network, Boot Barn maintains an e-commerce platform to serve customers seeking ranch-and-rodeo style clothing and rugged workwear from coast to coast.

Founded in 1978 in Southern California, Boot Barn began as a single store catering to ranchers, farmworkers and western enthusiasts.