Key Points
Director Brenda Morris sold 1,000 shares sold in an open-market transaction on Feb. 25, 2026, for a total value of approximately $198,000, at a reported price of around $197.74 per share.
The sale represented 23.02% of Morris’ direct holdings prior to the transaction, reducing her direct ownership from 4,344 to 3,344 shares.
No indirect or derivative securities were involved; all activity reflected direct, non-derivative ownership.
This transaction aligns with Morris’s established pattern of periodic sales at similar proportional sizes, consistent with reduced remaining capacity.
Brenda Morris, Director at Boot Barn Holdings (NYSE:BOOT), reported the sale of 1,000 shares of common stock for a transaction value of approximately $198,000 on Feb. 25, 2026, according to a SEC Form 4 filing.
Transaction summary
| Metric | Value |
|---|---|
| Shares sold (direct) | 1,000 |
| Transaction value | $197,740 |
| Post-transaction shares (direct) | 3,344 |
| Post-transaction value (direct ownership) | $661,000 |
Transaction value based on SEC Form 4 reported price ($197.74); post-transaction value based on Feb. 25, 2026 market close ($197.57).
Key questions
- What proportion of Brenda Morris’ direct Boot Barn Holdings shares were sold in this transaction?
The 1,000 shares sold represented 23.02% of her directly held shares prior to the sale, closely matching the median percentage for her historical sales. - Did this transaction involve any indirect holdings, trusts, or derivative securities?
No; the sale was comprised entirely of directly held, non-derivative common stock, with no indirect or derivative participation. - How does the transaction size compare to Morris’ historical selling activity?
This sale is slightly below her recent median of 1,250 shares per transaction, and the percent of holdings sold is consistent with her median historical range for open-market sales. - What is the remaining value of Morris’ direct Boot Barn Holdings stake after this transaction?
Following the sale, Morris retains 3,344 directly held shares, valued at approximately $661,000 as of the Feb. 25, 2026 market close.
Company overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $2.17 billion |
| Net income (TTM) | $218.98 million |
| Price (as of market close Feb. 25, 2026) | $197.74 |
| 1-year price change | 56.88% |
* 1-year performance calculated using Feb. 25, 2026 as the reference date.
Company snapshot
- Offers western and work-related footwear, apparel, and accessories, including boots, shirts, outerwear, hats, and home merchandise, both in-store and online.
- Operates a specialty retail model, generating revenue through direct product sales at over 300 U.S. retail locations and e-commerce platforms.
- Targets consumers seeking western lifestyle and workwear products, serving men, women, and children across diverse U.S. markets.
Boot Barn Holdings is a leading specialty retailer in the U.S. western and workwear apparel market, with a national footprint and a robust omnichannel presence. The company leverages its extensive store network and e-commerce platforms to reach a broad customer base, emphasizing authentic product offerings and deep category expertise.
What this transaction means for investors
Morris’ sale came as Boot Barn stock was up nearly 12% year to date on Feb. 25, compared to a modest 1.5% gain for the S&P 500. Yet the stock of the western-wear company has suffered a more than 16% decline in the month of March alone, shedding nearly $1 billion of its market cap in that time.
There doesn’t seem to be any recent company-related news that could be moving the stock. Boot Barn’s latest earnings report was on Feb. 4, for the third fiscal quarter ended Dec. 27, 2025. The holiday quarter was strong, with sales up 16% year over year and earnings per diluted share of $2.79.
After the report, several Wall Street watchers weighed in on the company:
- BTIG Research reiterated its buy rating on Boot Barn.
- Zacks Research lowered shares of Boot Barn from a strong buy rating to a hold rating.
- Piper Sandler upped its target price from $229 to $230 and gave the stock an overweight rating.
- Citigroup increased its target price on shares of Boot Barn from $230 to $232 and gave the stock a buy rating.
According to MarketBeat, the company currently has a consensus rating of moderate buy and a consensus price target of $217 among 12 analysts covering the stock.
Citigroup is an advertising partner of Motley Fool Money. Sarah Sidlow has no position in any of the stocks mentioned. The Motley Fool recommends Boot Barn. The Motley Fool has a disclosure policy.