AlphaQuest LLC Buys Shares of 35,632 Buckle, Inc. (The) $BKE

Key Points

• AlphaQuest LLC has acquired a new position by purchasing 35,632 shares of Buckle, Inc., a stake valued at approximately $1.365 million.
• Multiple hedge funds have increased their investments in Buckle, with institutional investors now owning 53.93% of the company's stock.
• Wall Street analysts have raised their ratings on Buckle, with UBS Group setting a new target price of $51.00, up from $40.00.

AlphaQuest LLC acquired a new position in shares of Buckle, Inc. (The) (NYSE:BKE - Free Report) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 35,632 shares of the company's stock, valued at approximately $1,365,000. AlphaQuest LLC owned 0.07% of Buckle as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Caption Management LLC acquired a new position in shares of Buckle during the 4th quarter worth about $36,000. Bellwether Advisors LLC acquired a new stake in Buckle during the 4th quarter worth $43,000. State of Wyoming acquired a new position in Buckle in the fourth quarter valued at about $111,000. Viking Fund Management LLC acquired a new stake in shares of Buckle during the first quarter worth about $115,000. Finally, Novem Group acquired a new position in shares of Buckle in the 4th quarter valued at approximately $227,000. Institutional investors and hedge funds own 53.93% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on BKE shares. Wall Street Zen raised shares of Buckle from a "hold" rating to a "buy" rating in a research report on Friday, May 23rd. UBS Group increased their target price on Buckle from $40.00 to $51.00 and gave the stock a "neutral" rating in a report on Wednesday, August 13th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $51.00.

Buckle Price Performance

Shares of NYSE:BKE opened at $56.2580 on Friday. The company's 50-day moving average price is $49.34 and its two-hundred day moving average price is $42.61. Buckle, Inc. has a one year low of $33.12 and a one year high of $57.53. The stock has a market capitalization of $2.88 billion, a PE ratio of 14.46 and a beta of 1.05.

Buckle (NYSE:BKE - Get Free Report) last posted its quarterly earnings results on Friday, August 22nd. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.06. Buckle had a return on equity of 43.13% and a net margin of 15.95%.The firm had revenue of $305.74 million for the quarter, compared to analyst estimates of $292.61 million. During the same quarter in the previous year, the firm earned $0.78 EPS. The business's quarterly revenue was up 8.3% on a year-over-year basis.

Buckle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 29th. Stockholders of record on Tuesday, July 15th were given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Tuesday, July 15th. Buckle's dividend payout ratio (DPR) is presently 35.99%.

Insider Activity at Buckle

In related news, Director James E. Shada sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $49.84, for a total transaction of $498,400.00. Following the transaction, the director directly owned 85,352 shares of the company's stock, valued at approximately $4,253,943.68. The trade was a 10.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Dennis H. Nelson sold 20,453 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $43.52, for a total transaction of $890,114.56. Following the completion of the transaction, the chief executive officer owned 1,655,204 shares in the company, valued at approximately $72,034,478.08. This represents a 1.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 39.00% of the company's stock.

About Buckle

The Buckle, Inc operates as a retailer of casual apparel, footwear, and accessories for young men and women in the United States. It markets a selection of brand name casual apparel, including denims, other casual bottoms, tops, sportswear, outerwear, accessories, and footwear, as well as private label merchandise primarily comprising BKE, Buckle Black, Salvage, Red by BKE, Daytrip, Gimmicks, Gilded Intent, FITZ + EDDI, Willow & Root, Outpost Makers, Departwest, Sterling & Stitch, Reclaim, BKE Vintage, Nova Industries, J.B.

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