Principal Financial Group Inc. Has $19.55 Million Stock Holdings in Boot Barn Holdings, Inc. (NYSE:BOOT)

Principal Financial Group Inc. lowered its stake in shares of Boot Barn Holdings, Inc. (NYSE:BOOT - Free Report) by 21.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 181,935 shares of the company's stock after selling 49,998 shares during the quarter. Principal Financial Group Inc. owned about 0.59% of Boot Barn worth $19,545,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Signaturefd LLC boosted its stake in shares of Boot Barn by 201.8% in the 4th quarter. Signaturefd LLC now owns 166 shares of the company's stock valued at $25,000 after purchasing an additional 111 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of Boot Barn in the 1st quarter valued at $29,000. Golden State Wealth Management LLC boosted its stake in shares of Boot Barn by 263.6% in the 1st quarter. Golden State Wealth Management LLC now owns 280 shares of the company's stock valued at $30,000 after purchasing an additional 203 shares in the last quarter. Versant Capital Management Inc boosted its stake in shares of Boot Barn by 210.8% in the 1st quarter. Versant Capital Management Inc now owns 317 shares of the company's stock valued at $34,000 after purchasing an additional 215 shares in the last quarter. Finally, Assetmark Inc. boosted its stake in shares of Boot Barn by 45.2% in the 4th quarter. Assetmark Inc. now owns 363 shares of the company's stock valued at $55,000 after purchasing an additional 113 shares in the last quarter.

Analysts Set New Price Targets

BOOT has been the topic of several research reports. Stephens initiated coverage on shares of Boot Barn in a research report on Wednesday, April 9th. They set an "overweight" rating and a $100.00 price target on the stock. Robert W. Baird upped their target price on shares of Boot Barn from $140.00 to $180.00 and gave the company an "outperform" rating in a research report on Thursday, May 15th. UBS Group upped their target price on shares of Boot Barn from $156.00 to $210.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Bank of America upped their target price on shares of Boot Barn from $160.00 to $173.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Finally, JPMorgan Chase & Co. upped their target price on shares of Boot Barn from $196.00 to $207.00 and gave the company an "overweight" rating in a research report on Tuesday, May 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $173.67.

Boot Barn Stock Performance

NYSE BOOT traded down $2.36 during trading hours on Friday, reaching $171.00. 726,762 shares of the company's stock were exchanged, compared to its average volume of 820,087. The company's 50-day moving average is $154.84 and its two-hundred day moving average is $136.04. Boot Barn Holdings, Inc. has a one year low of $86.17 and a one year high of $177.10. The company has a market capitalization of $5.23 billion, a price-to-earnings ratio of 29.18, a price-to-earnings-growth ratio of 2.04 and a beta of 1.69.

Boot Barn (NYSE:BOOT - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The company reported $1.22 earnings per share for the quarter, missing the consensus estimate of $1.24 by ($0.02). The business had revenue of $453.75 million for the quarter, compared to the consensus estimate of $458.56 million. Boot Barn had a return on equity of 16.98% and a net margin of 9.47%. Boot Barn's revenue was up 16.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.96 earnings per share. Research analysts predict that Boot Barn Holdings, Inc. will post 5.82 earnings per share for the current fiscal year.

Boot Barn announced that its board has approved a stock repurchase plan on Wednesday, May 14th that authorizes the company to repurchase $200.00 million in shares. This repurchase authorization authorizes the company to reacquire up to 4.8% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's management believes its stock is undervalued.

Insider Activity at Boot Barn

In other news, insider Michael A. Love sold 4,154 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The shares were sold at an average price of $155.34, for a total transaction of $645,282.36. Following the completion of the transaction, the insider directly owned 2,112 shares of the company's stock, valued at $328,078.08. This trade represents a 66.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Laurie Marie Grijalva sold 2,438 shares of the stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $160.67, for a total value of $391,713.46. Following the completion of the sale, the insider directly owned 14,593 shares of the company's stock, valued at approximately $2,344,657.31. The trade was a 14.32% decrease in their position. The disclosure for this sale can be found here. 1.00% of the stock is owned by company insiders.

About Boot Barn

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.