Principal Financial Group Inc. Has $35.21 Million Stake in Boot Barn Holdings, Inc. (NYSE:BOOT)

Principal Financial Group Inc. raised its position in Boot Barn Holdings, Inc. (NYSE:BOOT) by 13.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 231,933 shares of the company’s stock after purchasing an additional 28,268 shares during the quarter. Principal Financial Group Inc. owned 0.76% of Boot Barn worth $35,212,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. State of New Jersey Common Pension Fund D raised its stake in shares of Boot Barn by 13.0% in the 4th quarter. State of New Jersey Common Pension Fund D now owns 15,800 shares of the company’s stock valued at $2,399,000 after purchasing an additional 1,819 shares during the period. James Investment Research Inc. grew its holdings in shares of Boot Barn by 11.6% in the 4th quarter. James Investment Research Inc. now owns 13,703 shares of the company’s stock valued at $2,080,000 after acquiring an additional 1,429 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Boot Barn by 1,430.0% in the 4th quarter. Blue Trust Inc. now owns 153 shares of the company’s stock valued at $26,000 after acquiring an additional 143 shares in the last quarter. Legato Capital Management LLC grew its holdings in shares of Boot Barn by 63.9% in the 4th quarter. Legato Capital Management LLC now owns 18,030 shares of the company’s stock valued at $2,737,000 after acquiring an additional 7,029 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew its holdings in shares of Boot Barn by 0.7% in the 4th quarter. Louisiana State Employees Retirement System now owns 14,800 shares of the company’s stock valued at $2,247,000 after acquiring an additional 100 shares in the last quarter.

Boot Barn Stock Performance

Boot Barn stock opened at $128.11 on Friday. The stock has a 50-day simple moving average of $151.12 and a 200 day simple moving average of $147.81. The stock has a market capitalization of $3.92 billion, a P/E ratio of 22.88, a PEG ratio of 1.18 and a beta of 2.10. Boot Barn Holdings, Inc. has a 52 week low of $82.67 and a 52 week high of $176.64.

Boot Barn (NYSE:BOOT) last issued its quarterly earnings data on Thursday, January 30th. The company reported $2.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.05 by $0.38. Boot Barn had a net margin of 9.36% and a return on equity of 17.11%. Research analysts forecast that Boot Barn Holdings, Inc. will post 5.82 earnings per share for the current year.

Insiders Place Their Bets

In other Boot Barn news, CEO John Hazen sold 6,311 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $152.98, for a total transaction of $965,456.78. Following the completion of the sale, the chief executive officer now directly owns 3,937 shares in the company, valued at $602,282.26. This trade represents a 61.58 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 1.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on BOOT. Robert W. Baird upgraded Boot Barn from a “neutral” rating to an “outperform” rating and set a $167.00 price objective for the company in a report on Wednesday, October 30th. Baird R W upgraded Boot Barn from a “hold” rating to a “strong-buy” rating in a report on Wednesday, October 30th. Piper Sandler restated an “overweight” rating and issued a $181.00 price objective (up previously from $179.00) on shares of Boot Barn in a report on Friday, January 31st. Craig Hallum cut Boot Barn from a “buy” rating to a “hold” rating and raised their price objective for the company from $154.00 to $162.00 in a report on Friday, October 25th. Finally, Williams Trading restated a “buy” rating and issued a $173.00 price objective on shares of Boot Barn in a report on Tuesday, October 29th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $181.58.

Boot Barn Company 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.