Principal Financial Group Inc. Sells 29,854 Shares of Boot Barn Holdings, Inc. (NYSE:BOOT)

Principal Financial Group Inc. decreased its holdings in shares of Boot Barn Holdings, Inc. (NYSE:BOOTGet Rating) by 10.3% during the 2nd quarter, Holdings Channel reports. The firm owned 260,393 shares of the company’s stock after selling 29,854 shares during the quarter. Principal Financial Group Inc.’s holdings in Boot Barn were worth $17,944,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in BOOT. Victory Capital Management Inc. boosted its position in shares of Boot Barn by 3,057.7% during the 1st quarter. Victory Capital Management Inc. now owns 355,018 shares of the company’s stock valued at $33,580,000 after purchasing an additional 343,775 shares in the last quarter. Eagle Asset Management Inc. bought a new stake in shares of Boot Barn during the 1st quarter valued at about $24,268,000. The Manufacturers Life Insurance Company boosted its position in shares of Boot Barn by 103.7% during the 1st quarter. The Manufacturers Life Insurance Company now owns 309,737 shares of the company’s stock valued at $29,360,000 after purchasing an additional 157,669 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in Boot Barn by 7,720.0% in the first quarter. Renaissance Technologies LLC now owns 156,400 shares of the company’s stock worth $14,825,000 after acquiring an additional 154,400 shares in the last quarter. Finally, Braun Stacey Associates Inc. bought a new position in Boot Barn in the second quarter worth approximately $8,377,000.

Boot Barn Stock Up 3.8 %

BOOT stock opened at $63.38 on Wednesday. Boot Barn Holdings, Inc. has a twelve month low of $50.20 and a twelve month high of $131.02. The stock’s 50 day moving average is $59.00 and its 200-day moving average is $68.26. The firm has a market capitalization of $1.89 billion, a PE ratio of 10.41, a P/E/G ratio of 0.53 and a beta of 2.34.

Boot Barn (NYSE:BOOTGet Rating) last posted its earnings results on Wednesday, October 26th. The company reported $1.06 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.16. Boot Barn had a return on equity of 29.71% and a net margin of 11.68%. The company had revenue of $351.55 million for the quarter, compared to analyst estimates of $343.00 million. During the same quarter last year, the company earned $1.22 earnings per share. The company’s revenue for the quarter was up 12.4% on a year-over-year basis. On average, equities research analysts anticipate that Boot Barn Holdings, Inc. will post 5.79 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have issued reports on BOOT. Cowen cut their price target on Boot Barn from $140.00 to $90.00 in a report on Thursday, July 28th. Robert W. Baird cut their price target on Boot Barn from $80.00 to $75.00 and set an “outperform” rating on the stock in a report on Thursday, October 27th. TheStreet lowered Boot Barn from a “b-” rating to a “c+” rating in a report on Monday, October 31st. Citigroup cut their price target on Boot Barn from $99.00 to $93.00 and set a “buy” rating on the stock in a report on Thursday, October 27th. Finally, StockNews.com began coverage on Boot Barn in a report on Wednesday, October 12th. They issued a “sell” rating on the stock. One research analyst has rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.56.

Insider Activity at Boot Barn

In other Boot Barn news, CFO James M. Watkins purchased 2,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 9th. The stock was bought at an average cost of $52.34 per share, with a total value of $130,850.00. Following the completion of the transaction, the chief financial officer now owns 11,730 shares of the company’s stock, valued at approximately $613,948.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.20% of the stock is currently owned by company insiders.

About Boot Barn

(Get Rating)

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.

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Institutional Ownership by Quarter for Boot Barn (NYSE:BOOT)

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