Wedge Capital Management L L P NC Grows Holdings in Boot Barn Holdings, Inc. $BOOT

Wedge Capital Management L L P NC raised its stake in Boot Barn Holdings, Inc. (NYSE:BOOT) by 7.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 212,327 shares of the company’s stock after buying an additional 15,074 shares during the period. Wedge Capital Management L L P NC’s holdings in Boot Barn were worth $34,879,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Royal Bank of Canada increased its stake in Boot Barn by 50.3% in the first quarter. Royal Bank of Canada now owns 34,676 shares of the company’s stock valued at $3,725,000 after acquiring an additional 11,598 shares during the last quarter. AQR Capital Management LLC lifted its stake in Boot Barn by 198.0% during the first quarter. AQR Capital Management LLC now owns 8,906 shares of the company’s stock worth $957,000 after purchasing an additional 5,917 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Boot Barn by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,628 shares of the company’s stock worth $1,894,000 after purchasing an additional 779 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Boot Barn by 23.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 323,664 shares of the company’s stock worth $34,771,000 after purchasing an additional 61,719 shares in the last quarter. Finally, United Services Automobile Association purchased a new position in shares of Boot Barn in the 1st quarter worth about $209,000.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on BOOT. UBS Group set a $225.00 price objective on Boot Barn in a report on Wednesday, June 17th. TD Cowen cut their target price on Boot Barn from $225.00 to $190.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Bank of America reduced their price target on shares of Boot Barn from $224.00 to $206.00 and set a “buy” rating on the stock in a research report on Friday, May 15th. Weiss Ratings raised shares of Boot Barn from a “hold (c)” rating to a “hold (c+)” rating in a research note on Thursday, July 30th. Finally, Citigroup restated a “buy” rating on shares of Boot Barn in a report on Monday, May 4th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Boot Barn has a consensus rating of “Buy” and a consensus target price of $219.55.

Boot Barn Stock Performance

Shares of Boot Barn stock opened at $166.09 on Wednesday. Boot Barn Holdings, Inc. has a 52-week low of $133.18 and a 52-week high of $210.25. The stock has a market capitalization of $5.03 billion, a price-to-earnings ratio of 21.02, a P/E/G ratio of 1.08 and a beta of 1.71. The company’s 50 day moving average price is $162.32 and its 200-day moving average price is $166.39.

Boot Barn (NYSE:BOOT) last posted its quarterly earnings results on Wednesday, July 29th. The company reported $2.29 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.60. Boot Barn had a net margin of 10.35% and a return on equity of 18.78%. The company had revenue of $593.51 million during the quarter, compared to analyst estimates of $583.15 million. The firm’s revenue was up 17.7% compared to the same quarter last year. During the same period in the prior year, the business posted $1.74 EPS. Boot Barn has set its FY 2027 guidance at 8.800-9.230 EPS and its Q2 2027 guidance at 1.550-1.650 EPS. As a group, equities research analysts forecast that Boot Barn Holdings, Inc. will post 9.18 earnings per share for the current fiscal year.

Boot Barn 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.