Franklin Resources Inc. Grows Holdings in Boot Barn Holdings, Inc. (NYSE:BOOT)

by · The Markets Daily

Franklin Resources Inc. raised its position in Boot Barn Holdings, Inc. (NYSE:BOOT – Free Report) by 21.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 509,311 shares of the company’s stock after buying an additional 88,623 shares during the period. Franklin Resources Inc. owned 1.66% of Boot Barn worth $77,324,000 as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP increased its position in shares of Boot Barn by 48.6% during the fourth quarter. Wellington Management Group LLP now owns 2,161,052 shares of the company’s stock valued at $328,091,000 after acquiring an additional 706,518 shares during the last quarter. Stephens Investment Management Group LLC bought a new position in Boot Barn in the 4th quarter valued at $46,699,000. Proficio Capital Partners LLC purchased a new stake in shares of Boot Barn during the 4th quarter valued at $45,177,000. Raymond James Financial Inc. bought a new stake in shares of Boot Barn during the 4th quarter worth $42,440,000. Finally, Artemis Investment Management LLP purchased a new position in shares of Boot Barn in the 4th quarter worth about $36,361,000.

Analyst Ratings Changes

Several analysts have commented on BOOT shares. BTIG Research lifted their price objective on shares of Boot Barn from $185.00 to $190.00 and gave the stock a “buy” rating in a research report on Monday, January 13th. UBS Group decreased their price target on shares of Boot Barn from $210.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, February 3rd. JPMorgan Chase & Co. upped their price objective on Boot Barn from $200.00 to $209.00 and gave the company an “overweight” rating in a research note on Friday, January 31st. KeyCorp raised Boot Barn from a “sector weight” rating to an “overweight” rating and set a $190.00 target price for the company in a research report on Thursday, January 23rd. Finally, Craig Hallum set a $178.00 target price on Boot Barn in a research note on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $181.92.

View Our Latest Research Report on BOOT

Boot Barn Stock Down 14.9 %

Shares of BOOT opened at $97.72 on Friday. The business’s 50-day moving average price is $125.46 and its 200-day moving average price is $142.33. Boot Barn Holdings, Inc. has a twelve month low of $91.80 and a twelve month high of $176.64. The stock has a market cap of $2.99 billion, a PE ratio of 17.45, a P/E/G ratio of 1.17 and a beta of 1.75.

Boot Barn (NYSE:BOOT – Get Free Report) last posted its earnings results 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%. Analysts expect that Boot Barn Holdings, Inc. will post 5.82 earnings per share for the current fiscal year.

Boot Barn Profile

(Free Report)

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.

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