Principal Financial Group Inc. Reduces Stake in Boot Barn Holdings, Inc. (NYSE:BOOT)

Principal Financial Group Inc. cut its holdings in shares of Boot Barn Holdings, Inc. (NYSE:BOOT) by 1.8% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 157,448 shares of the company’s stock after selling 2,886 shares during the quarter. Principal Financial Group Inc.’s holdings in Boot Barn were worth $12,086,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Wellington Management Group LLP lifted its holdings in Boot Barn by 150.4% in the third quarter. Wellington Management Group LLP now owns 897,896 shares of the company’s stock worth $72,900,000 after buying an additional 539,296 shares during the period. American Century Companies Inc. purchased a new position in Boot Barn during the 3rd quarter valued at about $23,028,000. WCM Investment Management LLC grew its holdings in Boot Barn by 66.4% in the fourth quarter. WCM Investment Management LLC now owns 282,246 shares of the company’s stock worth $21,801,000 after purchasing an additional 112,606 shares during the period. Qube Research & Technologies Ltd purchased a new stake in Boot Barn in the third quarter worth about $8,486,000. Finally, FMR LLC grew its holdings in Boot Barn by 13.4% in the third quarter. FMR LLC now owns 463,287 shares of the company’s stock worth $37,614,000 after purchasing an additional 54,810 shares during the period.

Boot Barn Stock Up 1.8 %

Shares of Boot Barn stock opened at $113.25 on Friday. The company has a market cap of $3.44 billion, a price-to-earnings ratio of 23.59 and a beta of 2.15. The company’s 50 day moving average is $101.40 and its 200 day moving average is $86.72. Boot Barn Holdings, Inc. has a twelve month low of $64.85 and a twelve month high of $115.97.

Insider Activity at Boot Barn

In related news, CEO James Grant Conroy sold 19,478 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $92.38, for a total transaction of $1,799,377.64. Following the transaction, the chief executive officer now owns 46,273 shares in the company, valued at $4,274,699.74. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Boot Barn news, insider Michael A. Love sold 5,653 shares of the stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $113.61, for a total value of $642,237.33. Following the transaction, the insider now directly owns 2,327 shares in the company, valued at $264,370.47. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO James Grant Conroy sold 19,478 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $92.38, for a total transaction of $1,799,377.64. Following the completion of the transaction, the chief executive officer now owns 46,273 shares in the company, valued at $4,274,699.74. The disclosure for this sale can be found here. Insiders have sold a total of 31,273 shares of company stock worth $3,129,064 over the last quarter. Company insiders own 2.20% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on BOOT. KeyCorp began coverage on shares of Boot Barn in a report on Wednesday, February 7th. They issued a “sector weight” rating on the stock. JPMorgan Chase & Co. upped their price objective on shares of Boot Barn from $115.00 to $125.00 and gave the stock an “overweight” rating in a report on Tuesday, May 21st. Piper Sandler upped their price objective on shares of Boot Barn from $94.00 to $110.00 and gave the stock an “overweight” rating in a report on Tuesday, April 16th. BTIG Research cut their price objective on shares of Boot Barn from $127.00 to $125.00 and set a “buy” rating on the stock in a report on Wednesday, May 15th. Finally, Craig Hallum increased their price target on shares of Boot Barn from $95.00 to $120.00 and gave the company a “buy” rating in a report on Wednesday, May 15th. One research analyst has rated the stock with a sell rating, three have given a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, Boot Barn presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.45.

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.