Principal Financial Group Inc. Cuts Position in Boot Barn Holdings, Inc. (NYSE:BOOT)

Principal Financial Group Inc. trimmed its position in shares of Boot Barn Holdings, Inc. (NYSE:BOOT) by 6.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 203,665 shares of the company’s stock after selling 13,722 shares during the period. Principal Financial Group Inc.’s holdings in Boot Barn were worth $34,069,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of BOOT. Franklin Resources Inc. raised its position in shares of Boot Barn by 1.0% during the 3rd quarter. Franklin Resources Inc. now owns 420,688 shares of the company’s stock valued at $68,004,000 after buying an additional 4,226 shares in the last quarter. Coldstream Capital Management Inc. purchased a new stake in Boot Barn during the third quarter valued at approximately $212,000. Geode Capital Management LLC lifted its stake in shares of Boot Barn by 1.0% in the 3rd quarter. Geode Capital Management LLC now owns 676,277 shares of the company’s stock valued at $113,150,000 after purchasing an additional 6,369 shares during the last quarter. XTX Topco Ltd purchased a new position in shares of Boot Barn in the 3rd quarter worth approximately $1,763,000. Finally, Tabor Asset Management LP bought a new position in shares of Boot Barn during the 3rd quarter valued at approximately $1,536,000.

Analyst Upgrades and Downgrades

Several research firms have commented on BOOT. Citigroup dropped their price objective on shares of Boot Barn from $194.00 to $178.00 and set a “buy” rating for the company in a research note on Tuesday, October 29th. Benchmark reaffirmed a “buy” rating and set a $192.00 price target on shares of Boot Barn in a research note on Tuesday, October 29th. JPMorgan Chase & Co. increased their price objective on shares of Boot Barn from $160.00 to $181.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. UBS Group boosted their target price on Boot Barn from $127.00 to $165.00 and gave the company a “neutral” rating in a research report on Wednesday, October 16th. Finally, BTIG Research increased their price target on Boot Barn from $165.00 to $185.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. One equities 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 assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $164.55.

Boot Barn Stock Performance

Shares of Boot Barn stock opened at $147.98 on Tuesday. The company has a market capitalization of $4.52 billion, a PE ratio of 29.71 and a beta of 2.14. The company has a 50-day simple moving average of $143.92 and a two-hundred day simple moving average of $140.54. Boot Barn Holdings, Inc. has a one year low of $68.37 and a one year high of $169.83.

Boot Barn (NYSE:BOOT) last posted its earnings results on Monday, October 28th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.02. Boot Barn had a net margin of 8.73% and a return on equity of 15.89%. The company had revenue of $425.80 million during the quarter, compared to analysts’ expectations of $424.42 million. During the same quarter in the prior year, the company posted $0.91 earnings per share. Boot Barn’s revenue for the quarter was up 13.7% compared to the same quarter last year. On average, equities analysts predict that Boot Barn Holdings, Inc. will post 5.48 earnings per share for the current fiscal year.

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.