Principal Financial Group Inc. Has $78.53 Million Stock Position in Boot Barn Holdings, Inc. $BOOT

Principal Financial Group Inc. raised its stake in Boot Barn Holdings, Inc. (NYSE:BOOT) by 36.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 536,520 shares of the company’s stock after buying an additional 143,422 shares during the quarter. Principal Financial Group Inc. owned about 1.76% of Boot Barn worth $78,525,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Royal Bank of Canada increased its position in shares of Boot Barn by 50.3% during the first quarter. Royal Bank of Canada now owns 34,676 shares of the company’s stock worth $3,725,000 after acquiring an additional 11,598 shares in the last quarter. AQR Capital Management LLC lifted its position in Boot Barn by 198.0% in the 1st quarter. AQR Capital Management LLC now owns 8,906 shares of the company’s stock valued at $957,000 after acquiring an additional 5,917 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Boot Barn by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,628 shares of the company’s stock valued at $1,894,000 after acquiring an additional 779 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Boot Barn by 23.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 323,664 shares of the company’s stock worth $34,771,000 after purchasing an additional 61,719 shares during the period. Finally, United Services Automobile Association acquired a new position in Boot Barn in the 1st quarter worth $209,000.

Boot Barn Trading Down 0.2%

Boot Barn stock opened at $153.91 on Friday. Boot Barn Holdings, Inc. has a 1-year low of $133.18 and a 1-year high of $210.25. The company has a fifty day simple moving average of $162.00 and a 200 day simple moving average of $170.62. The company has a market cap of $4.67 billion, a P/E ratio of 20.94, a price-to-earnings-growth ratio of 1.08 and a beta of 1.69.

Boot Barn (NYSE:BOOT) last issued its quarterly earnings results on Thursday, May 14th. The company reported $1.45 EPS for the quarter, topping the consensus estimate of $1.43 by $0.02. Boot Barn had a net margin of 10.02% and a return on equity of 18.15%. The firm had revenue of $538.75 million for the quarter, compared to analysts’ expectations of $531.43 million. During the same period in the previous year, the firm posted $1.22 EPS. The company’s revenue for the quarter was up 18.7% on a year-over-year basis. Boot Barn has set its Q1 2027 guidance at 1.620-1.710 EPS and its FY 2027 guidance at 8.210-8.640 EPS. On average, equities research analysts forecast that Boot Barn Holdings, Inc. will post 8.55 EPS for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on BOOT. TD Cowen reissued a “buy” rating on shares of Boot Barn in a research note on Wednesday, June 17th. Robert W. Baird reduced their price objective on Boot Barn from $244.00 to $225.00 and set an “outperform” rating for the company in a research report on Friday, May 15th. BTIG Research reiterated a “buy” rating and set a $235.00 price objective on shares of Boot Barn in a report on Friday, May 15th. Piper Sandler decreased their price objective on Boot Barn from $230.00 to $226.00 and set an “overweight” rating for the company in a report on Friday, May 15th. Finally, Citigroup reissued a “buy” rating on shares of Boot Barn in a research report on Monday, May 4th. Twelve equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $226.92.

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.