Principal Financial Group Inc. Acquires 201,026 Shares of Boot Barn Holdings, Inc. $BOOT

Principal Financial Group Inc. increased its holdings in shares of Boot Barn Holdings, Inc. (NYSE:BOOT) by 132.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 352,816 shares of the company’s stock after acquiring an additional 201,026 shares during the quarter. Principal Financial Group Inc. owned approximately 1.15% of Boot Barn worth $58,469,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. ORG Partners LLC purchased a new position in Boot Barn in the third quarter valued at approximately $25,000. Bessemer Group Inc. raised its stake in shares of Boot Barn by 134.2% in the second quarter. Bessemer Group Inc. now owns 185 shares of the company’s stock valued at $28,000 after buying an additional 106 shares during the period. Parkside Financial Bank & Trust lifted its position in shares of Boot Barn by 164.4% during the 3rd quarter. Parkside Financial Bank & Trust now owns 193 shares of the company’s stock valued at $32,000 after buying an additional 120 shares during the last quarter. Salomon & Ludwin LLC bought a new position in Boot Barn during the third quarter worth about $42,000. Finally, Independence Bank of Kentucky bought a new position in Boot Barn in the 3rd quarter worth approximately $46,000.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Piper Sandler increased their price objective on Boot Barn from $220.00 to $229.00 and gave the stock an “overweight” rating in a report on Friday, January 16th. BTIG Research lifted their price objective on shares of Boot Barn from $226.00 to $235.00 and gave the stock a “buy” rating in a report on Monday, January 12th. Seaport Research Partners downgraded Boot Barn from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 27th. UBS Group lifted their price target on Boot Barn from $248.00 to $265.00 and gave the stock a “buy” rating in a research note on Thursday, January 8th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Boot Barn from $276.00 to $282.00 and gave the company an “overweight” rating in a research report on Thursday, November 6th. Eleven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $206.08.

Boot Barn Price Performance

NYSE:BOOT opened at $181.50 on Wednesday. The company’s 50-day simple moving average is $190.88 and its 200 day simple moving average is $182.23. Boot Barn Holdings, Inc. has a one year low of $86.17 and a one year high of $210.25. The firm has a market capitalization of $5.53 billion, a P/E ratio of 26.85, a PEG ratio of 1.36 and a beta of 1.67.

Insider Transactions at Boot Barn

In related news, Director Gene Eddie Burt sold 1,200 shares of the stock in a transaction dated Monday, December 1st. The shares were sold at an average price of $191.41, for a total transaction of $229,692.00. Following the sale, the director directly owned 3,338 shares of the company’s stock, valued at approximately $638,926.58. This represents a 26.44% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.66% of the stock is currently owned by insiders.

About Boot Barn

Boot Barn, Inc is a leading specialty retailer focused on western and work-related footwear, apparel and accessories. The company operates full-price and outlet retail stores under the Boot Barn and BootBarn.com brands, offering a wide assortment of cowboy boots, work boots, casual and fashion footwear, western and work apparel, hats, belts and related accessories. In addition to its brick-and-mortar network, Boot Barn maintains an e-commerce platform to serve customers seeking ranch-and-rodeo style clothing and rugged workwear from coast to coast.

Founded in 1978 in Southern California, Boot Barn began as a single store catering to ranchers, farmworkers and western enthusiasts.