Alps Advisors Inc. Makes New $2.75 Million Investment in Buckle, Inc. (The) $BKE

Key Points

• Alps Advisors acquired 63,945 Buckle shares in the third quarter, worth about $2.75 million and representing approximately 0.12% of the company. Institutional investors collectively own 53.93% of Buckle.
• Buckle’s latest quarter delivered EPS of $0.87, ahead of the $0.81 estimate, while revenue of $319.82 million was nearly in line with forecasts and up 4.6% year over year.
• Analysts’ average rating is Hold, with a $46 price target. Buckle also paid a quarterly dividend of $0.35, equivalent to a 3.2% annualized yield.

Alps Advisors Inc. acquired a new position in Buckle, Inc. (The) (NYSE:BKE - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 63,945 shares of the company's stock, valued at approximately $2,746,000. Alps Advisors Inc. owned approximately 0.12% of Buckle at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Farther Finance Advisors LLC grew its position in Buckle by 261.8% during the third quarter. Farther Finance Advisors LLC now owns 597 shares of the company's stock valued at $26,000 after acquiring an additional 432 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of Buckle in the 2nd quarter valued at $36,000. Integrated Wealth Concepts LLC purchased a new stake in shares of Buckle in the 2nd quarter valued at $37,000. Sterling Capital Management LLC grew its holdings in shares of Buckle by 850.0% during the 3rd quarter. Sterling Capital Management LLC now owns 1,083 shares of the company's stock valued at $47,000 after purchasing an additional 969 shares during the last quarter. Finally, Allworth Financial LP bought a new position in shares of Buckle during the 2nd quarter valued at $48,000. 53.93% of the stock is currently owned by institutional investors.

Insider Transactions at Buckle

In related news, Director Bill Fairfield sold 8,500 shares of the business's stock in a transaction dated Thursday, October 15th. The stock was sold at an average price of $46.38, for a total transaction of $394,230.00. Following the transaction, the director owned 44,408 shares in the company, valued at $2,059,643.04. The trade was a 16.07% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Scott A. Werth sold 2,500 shares of the business's stock in a transaction dated Thursday, October 22nd. The shares were sold at an average price of $46.75, for a total value of $116,875.00. Following the transaction, the senior vice president owned 46,960 shares in the company, valued at approximately $2,195,380. This represents a 5.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 38.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

BKE has been the topic of a number of analyst reports. Weiss Ratings upgraded shares of Buckle from a "hold (c)" rating to a "hold (c+)" rating in a research report on Thursday, October 15th. UBS Group reaffirmed a "neutral" rating on shares of Buckle in a research note on Monday, August 24th. Two analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $46.00.

Buckle Stock Performance

Shares of Buckle stock opened at $43.79 on Tuesday. Buckle, Inc. has a 52-week low of $39.44 and a 52-week high of $58.52. The company's 50 day moving average price is $43.68 and its 200-day moving average price is $47.13. The stock has a market capitalization of $2.26 billion, a price-to-earnings ratio of 10.09 and a beta of 1.14.

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

Buckle Announces Dividend

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

Buckle Company Profile

The Buckle, Inc is a specialty retailer of casual apparel, footwear and accessories. Its stores offer clothing for men and women, with a particular focus on denim, alongside tops, outerwear, shoes and fashion accessories.

The company sells merchandise from national brands as well as private-label lines, and combines its in-store business with online sales. Its retail locations serve customers across the United States.

Founded in Nebraska in 1948 as Mills Clothing, the company later adopted The Buckle name.

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