BlackRock Inc. Acquires Shares of 4,949,960 Buckle, Inc. (The) $BKE

BlackRock Inc. acquired a new stake in Buckle, Inc. (The) (NYSE:BKE) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 4,949,960 shares of the company’s stock, valued at approximately $208,888,000. BlackRock Inc. owned 0.10% of Buckle at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of BKE. Geneos Wealth Management Inc. grew its holdings in shares of Buckle by 1,928.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 649 shares of the company’s stock worth $25,000 after purchasing an additional 617 shares during the last quarter. Miller Capital Partners Inc. acquired a new position in Buckle in the fourth quarter valued at about $37,000. Hantz Financial Services Inc. boosted its position in Buckle by 51.6% in the fourth quarter. Hantz Financial Services Inc. now owns 702 shares of the company’s stock valued at $38,000 after buying an additional 239 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Buckle by 162.2% during the second quarter. EverSource Wealth Advisors LLC now owns 957 shares of the company’s stock worth $43,000 after buying an additional 592 shares during the last quarter. Finally, Quarry LP bought a new stake in Buckle during the third quarter worth about $65,000. 53.93% of the stock is owned by institutional investors and hedge funds.

Buckle Trading Down 3.1%

Shares of NYSE:BKE opened at $42.81 on Friday. Buckle, Inc. has a 1-year low of $40.73 and a 1-year high of $61.69. The stock has a market capitalization of $2.21 billion, a P/E ratio of 9.86 and a beta of 1.10. The business has a 50-day moving average price of $43.57 and a two-hundred day moving average price of $48.19.

Buckle (NYSE:BKE) last issued its quarterly earnings results on Friday, August 21st. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.81 by $0.06. The company had revenue of $319.82 million during the quarter, compared to analysts’ expectations of $319.80 million. Buckle had a net margin of 16.62% and a return on equity of 46.91%. Buckle’s revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.89 EPS.

Buckle Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 29th. Shareholders of record on Wednesday, July 15th were issued a dividend of $0.35 per share. The ex-dividend date was Wednesday, July 15th. This represents a $1.40 dividend on an annualized basis and a yield of 3.3%. Buckle’s dividend payout ratio (DPR) is 32.26%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on BKE shares. UBS Group reiterated a “neutral” rating on shares of Buckle in a research note on Monday. Weiss Ratings downgraded Buckle from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, August 14th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $46.00.

Insider Activity

In related news, Director Bill L. Fairfield sold 2,500 shares of Buckle stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $44.44, for a total transaction of $111,100.00. Following the transaction, the director owned 52,908 shares of the company’s stock, valued at $2,351,231.52. This trade represents a 4.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 38.40% of the company’s stock.

Buckle Company Profile

Buckle, Inc is a retailer specializing in casual apparel, footwear and accessories for young men and women. The company is known for its denim-focused collections, offering both private-label lines and curated brand-name merchandise. Its product assortment includes jeans, tops, outerwear, shoes and a variety of accessories such as belts, jewelry and handbags, all aimed at blending contemporary style with everyday comfort.

Founded in 1948 in Kearney, Nebraska, Buckle began as a single clothing store and has since expanded into a nationwide chain.