Blair William & Co. IL continues to impress with its recent Form 13F filing with the Securities and Exchange Commission (SEC). According to the document, this institutional investor has grown its holdings in Boot Barn Holdings, Inc. (NYSE:BOOT) by a jaw-dropping 192.0% during the fourth quarter of 2022.
This bullish move is evidence of Blair William & Co.’s commitment to diversifying its portfolio while capitalizing on market opportunities. The company acquired an additional 23,767 shares during the quarter, bringing their total ownership to 36,145 shares – a remarkable feat that raises their stake in Boot Barn, worth $2,260,000 at the end of Q4.
These impressive figures have sent shockwaves throughout the financial world as investors take notice of Blair William & Co.’s bold investment strategy. It’s clear that this formidable institution is not afraid to take risks and capitalize on market movements – a trait that sets them apart from their peers.
But why has Blair William & Co. chosen Boot Barn as one of its primary investments? One possible reason is the company’s current position within the market – with a market capitalization of $2.01 billion and a price-to-earnings (PE) ratio of just 11.96, BOOT is well-positioned for growth and profitability in the coming years.
Furthermore, BOOT boasts a debt-to-equity ratio of just 0.43 and a beta value of 2.35 – demonstrating strong fundamentals and relative stability within its industry.
These factors place Boot Barn Holdings in prime position for future gains, making it an enticing prospect for institutional investors such as Blair William & Co.. Coupled with its steady growth and innovative product offerings within an expanding market niche, BOOT presents an attractive long-term investment opportunity.
It should be noted that investing always carries risk – even for institutional investors such as Blair William & Co.. While this hedge fund’s recent successes are impressive, there is no guarantee that they will continue to perform at such a high level in the coming years.
That being said, Blair William & Co.’s decision to increase their holdings in Boot Barn Holdings is a testament to the growth potential of the company. For those looking to invest in a promising stock with strong fundamentals and upward momentum, BOOT presents an appealing option that should be thoroughly considered.
Boot Barn Stocks on the Rise Despite Analyst Downgrades
Boot Barn, a Western and work-related footwear retailer, has been making waves in the stock market as of late. A number of hedge funds have recently made changes to their positions in BOOT, with FourThought Financial LLC leading the way by increasing its position in Boot Barn by 55.9% during the 3rd quarter. The financial company now owns 1,316 shares of Boot Barn’s stock worth $77,000 after acquiring an additional 472 shares during the last quarter.
Point72 Hong Kong Ltd also bought a new position in shares of Boot Barn in the second quarter worth approximately $105,000 while Captrust Financial Advisors increased its stake in the company’s shares by 161.6% in the first quarter. Now owning 1,541 shares of the company’s stock worth $146,000 after buying an additional 952 shares during the period.
Neuberger Berman Group LLC invested approximately $237,000 into Boot Barn during the 1st quarter while Mackenzie Financial Corp raised its holdings in Boot Barn by 9.9% during the same period. Mackenzie Financial Corp now owns 2,611 shares of the company’s stock valued at $247,000 after buying an additional 235 shares during last quarter.
Despite these recent investments and positive growth rates compared to last year’s numbers, several equities analysts have lowered their price objective on BOOT stocks. Robert W. Baird lowered their price objective from $86.00 to $70.00 while Craig Hallum reduced their target price on Boot Barn from $100.00 to $89.00.
Bloomberg currently gives BOOT an average rating of “Moderate Buy” and a consensus target price of $88.40 based on data from various sources such as HoldingsChannel.com which provides up-to-date information regarding insider trades for stakeholders.
On May 17th this year boot manufacturers’ quarterly earnings data revealed that the company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.45 by $0.08. Boot Barn had a net margin of 10.29% and a return on equity of 24.07%. It is estimated that Boot Barn Holdings, Inc will post 4.92 EPS for the current fiscal year.
Boot Barn Holdings, Inc has been operational for decades and continues to provide high-quality western wear and work-related footwear, apparel, and accessories to its customers around the globe. Boots from popular brands like Ariat, Wrangler, Lucchese Boots, Idyllwind, and Cinch are just some of the many Western-themed products offered alongside jeans, hats, gifts and home products, and work wear in this retailer’s line-up.
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