29,427 Shares in Buckle, Inc. (The) $BKE Acquired by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments bought 29,427 Buckle shares in the third quarter, worth approximately $1.26 million and representing about 0.06% of the company.
• Other institutions have also built or increased positions; institutional investors collectively own 53.93% of Buckle. Meanwhile, two company insiders disclosed stock sales.
• Buckle beat quarterly EPS estimates, reporting $0.87 per share, and revenue rose 4.6% year over year. Analysts’ average rating is “Hold,” with a $46 price target; the company’s annualized dividend yield is 3.3%.

Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Buckle, Inc. (The) (NYSE:BKE - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 29,427 shares of the company's stock, valued at approximately $1,264,000. Mirae Asset Global Investments Co. Ltd. owned approximately 0.06% of Buckle as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. bought a new position in Buckle in the second quarter worth approximately $208,888,000. Bank of New York Mellon Corp purchased a new position in Buckle during the 2nd quarter worth $27,466,000. Impala Asset Management LLC bought a new stake in Buckle during the 2nd quarter valued at $17,386,000. Lazard Asset Management LLC raised its position in Buckle by 1,066.8% during the 1st quarter. Lazard Asset Management LLC now owns 297,594 shares of the company's stock valued at $14,987,000 after purchasing an additional 272,088 shares in the last quarter. Finally, Summit Street Capital Management LLC bought a new stake in Buckle during the 2nd quarter valued at $11,474,000. Institutional investors own 53.93% of the company's stock.

Insiders Place Their Bets

In other news, SVP Scott A. Werth sold 2,500 shares of Buckle stock in a transaction on Thursday, October 22nd. The stock was sold at an average price of $46.75, for a total value of $116,875.00. Following the transaction, the senior vice president directly owned 46,960 shares in the company, valued at approximately $2,195,380. This trade represents a 5.05% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Bill L. Fairfield sold 8,500 shares of the business's stock in a transaction on Thursday, October 15th. The stock was sold at an average price of $46.38, for a total value of $394,230.00. Following the completion of the transaction, the director directly owned 44,408 shares of the company's stock, valued at approximately $2,059,643.04. The trade was a 16.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 38.40% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on BKE shares. UBS Group reiterated a "neutral" rating on shares of Buckle in a report on Monday, August 24th. Weiss Ratings upgraded Buckle from a "hold (c)" rating to a "hold (c+)" rating in a research note on Thursday, October 15th. Two analysts have rated the stock with a Hold rating. Based on data from MarketBeat, Buckle presently has an average rating of "Hold" and an average target price of $46.00.

Buckle Stock Performance

NYSE:BKE opened at $42.01 on Monday. The firm has a 50-day simple moving average of $43.68 and a 200-day simple moving average of $47.19. Buckle, Inc. has a one year low of $39.44 and a one year high of $58.52. The firm has a market cap of $2.16 billion, a P/E ratio of 9.68 and a beta of 1.13.

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

Buckle Announces Dividend

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

Buckle Profile

Buckle, Inc is a specialty retailer of casual apparel, footwear and accessories for fashion-conscious young men and women. The company offers a broad selection of denim, tops, bottoms, outerwear, dresses, activewear, shoes, jewelry and other accessories from national brands and its own private-label collections, including BKE and Buckle Black.

The company sells merchandise through its network of retail stores across the United States and through its e-commerce platform. Buckle stores generally emphasize personalized customer service, denim fittings and outfit coordination, while its online channel provides access to apparel and accessories for customers outside its store markets.

Buckle traces its origins to 1948, when it began as a clothing store in Kearney, Nebraska.

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