271,903 Shares in Buckle, Inc. (The) $BKE Purchased by Summit Street Capital Management LLC

Key Points

• Summit Street Capital Management acquired 271,903 Buckle shares worth approximately $11.5 million, giving it a 0.53% stake. Institutional investors and hedge funds collectively own 53.93% of the company.
• Buckle reported quarterly EPS of $0.87, beating estimates by $0.06, while revenue rose 4.6% year over year to $319.82 million. The retailer also maintains a $0.35 quarterly dividend, equivalent to a 3.2% yield.
• Buckle shares opened at $44.12, below their 200-day moving average of $48.26 and well under the 52-week high of $61.69. Analysts maintain a consensus “Hold” rating with a $46 price target.

Summit Street Capital Management LLC acquired a new stake in Buckle, Inc. (The) (NYSE:BKE - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 271,903 shares of the company's stock, valued at approximately $11,474,000. Summit Street Capital Management LLC owned 0.53% of Buckle as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in BKE. AQR Capital Management LLC increased its holdings in shares of Buckle by 9.5% during the 1st quarter. AQR Capital Management LLC now owns 94,408 shares of the company's stock worth $3,618,000 after acquiring an additional 8,202 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Buckle by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,363 shares of the company's stock valued at $704,000 after purchasing an additional 797 shares during the last quarter. Millennium Management LLC raised its position in shares of Buckle by 15.3% in the first quarter. Millennium Management LLC now owns 99,547 shares of the company's stock valued at $3,815,000 after purchasing an additional 13,189 shares during the period. Geneos Wealth Management Inc. raised its position in shares of Buckle by 1,928.1% in the first quarter. Geneos Wealth Management Inc. now owns 649 shares of the company's stock valued at $25,000 after purchasing an additional 617 shares during the period. Finally, Russell Investments Group Ltd. lifted its stake in shares of Buckle by 323.6% during the 2nd quarter. Russell Investments Group Ltd. now owns 27,366 shares of the company's stock worth $1,241,000 after buying an additional 20,905 shares during the last quarter. 53.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Buckle

In other news, Director Bill L. Fairfield sold 2,500 shares of the firm's 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 directly owned 52,908 shares of the company's stock, valued at approximately $2,351,231.52. This trade represents a 4.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 38.40% of the company's stock.

Buckle Stock Performance

BKE opened at $44.12 on Thursday. The stock has a fifty day moving average of $43.61 and a 200-day moving average of $48.26. The company has a market capitalization of $2.27 billion, a P/E ratio of 10.17 and a beta of 1.10. Buckle, Inc. has a fifty-two week low of $40.73 and a fifty-two week high of $61.69.

Buckle (NYSE:BKE - Get Free Report) last released its quarterly earnings results on Friday, August 21st. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.81 by $0.06. Buckle had a net margin of 16.62% and a return on equity of 46.91%. The business had revenue of $319.82 million for the quarter, compared to the consensus estimate of $319.80 million. During the same period in the prior year, the company posted $0.89 earnings per share. Buckle's revenue was up 4.6% compared to the same quarter last year.

Buckle Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 29th. Shareholders of record on Wednesday, July 15th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Wednesday, July 15th. Buckle's dividend payout ratio is presently 32.26%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Weiss Ratings lowered shares of Buckle from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, August 14th. UBS Group restated a "neutral" rating on shares of Buckle in a research report on Monday. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $46.00.

Buckle 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.

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