Principal Financial Group Inc. Sells 13,722 Shares of Boot Barn Holdings, Inc. (NYSE:BOOT)

Principal Financial Group Inc. lessened its holdings in shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 6.3% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 203,665 shares of the company's stock after selling 13,722 shares during the period. Principal Financial Group Inc. owned 0.67% of Boot Barn worth $34,069,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Janney Montgomery Scott LLC increased its stake in shares of Boot Barn by 3.2% in the first quarter. Janney Montgomery Scott LLC now owns 4,787 shares of the company's stock worth $455,000 after purchasing an additional 150 shares in the last quarter. Texas Permanent School Fund Corp grew its position in Boot Barn by 1.4% during the 1st quarter. Texas Permanent School Fund Corp now owns 26,519 shares of the company's stock worth $2,523,000 after purchasing an additional 358 shares during the period. Swiss National Bank grew its stake in Boot Barn by 1.2% in the 1st quarter. Swiss National Bank now owns 59,800 shares of the company's stock valued at $5,690,000 after acquiring an additional 700 shares during the period. Sei Investments Co. lifted its position in Boot Barn by 52.5% during the first quarter. Sei Investments Co. now owns 73,884 shares of the company's stock worth $7,030,000 after buying an additional 25,434 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its holdings in Boot Barn by 12.8% in the 1st quarter. Russell Investments Group Ltd. now owns 131,658 shares of the company's stock valued at $12,527,000 after purchasing an additional 14,980 shares during the last quarter.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Baird R W upgraded shares of Boot Barn from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, October 30th. UBS Group increased their price objective on shares of Boot Barn from $127.00 to $165.00 and gave the company a "neutral" rating in a report on Wednesday, October 16th. Benchmark reiterated a "buy" rating and set a $192.00 price target on shares of Boot Barn in a report on Tuesday, October 29th. Piper Sandler restated an "overweight" rating and issued a $179.00 target price on shares of Boot Barn in a report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. boosted their target price on Boot Barn from $160.00 to $181.00 and gave the stock an "overweight" rating in a report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, three have given a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $164.55.

Boot Barn Stock Down 2.2 %

Shares of Boot Barn stock traded down $2.99 on Tuesday, hitting $133.42. The company's stock had a trading volume of 505,142 shares, compared to its average volume of 770,752. Boot Barn Holdings, Inc. has a 52-week low of $68.37 and a 52-week high of $169.83. The firm has a fifty day moving average price of $153.01 and a 200-day moving average price of $134.11. The company has a market capitalization of $4.07 billion, a P/E ratio of 27.42 and a beta of 2.16.

Boot Barn (NYSE:BOOT - Get Free Report) last posted its earnings results on Monday, October 28th. The company reported $0.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.93 by $0.02. The firm had revenue of $425.80 million during the quarter, compared to analyst estimates of $424.42 million. Boot Barn had a net margin of 8.73% and a return on equity of 15.89%. Boot Barn's revenue was up 13.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.91 EPS. As a group, analysts expect that Boot Barn Holdings, Inc. will post 5.48 earnings per share for the current year.

Boot Barn Profile

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.