Artemis Investment Management LLP Makes New $1.82 Million Investment in Buckle, Inc. (The) $BKE

Key Points

• Artemis Investment Management LLP purchased a new stake in Buckle, buying 34,007 shares valued at about $1.82 million, representing roughly 0.07% ownership at the end of the reporting period.
• Company insiders sold a total of 126,200 shares worth about $6.52 million over the past three months (including large sales by EVP Kari G. Smith and SVP Michelle Hoffman), while insiders still own 39% of the stock.
• Buckle beat quarterly expectations with EPS $1.59 (vs. $1.51 est.) and $399.14M revenue, and pays a quarterly dividend of $0.35 (annualized $1.40, yield ~2.5%).

Artemis Investment Management LLP purchased a new stake in Buckle, Inc. (The) (NYSE:BKE - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 34,007 shares of the company's stock, valued at approximately $1,817,000. Artemis Investment Management LLP owned 0.07% of Buckle at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. AQR Capital Management LLC grew its holdings in Buckle by 9.5% in the first quarter. AQR Capital Management LLC now owns 94,408 shares of the company's stock valued at $3,618,000 after purchasing an additional 8,202 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Buckle by 4.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,363 shares of the company's stock worth $704,000 after purchasing an additional 797 shares during the period. Millennium Management LLC raised its stake in Buckle by 15.3% during the first quarter. Millennium Management LLC now owns 99,547 shares of the company's stock worth $3,815,000 after purchasing an additional 13,189 shares during the period. Geneos Wealth Management Inc. boosted 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 valued at $25,000 after purchasing an additional 617 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in shares of Buckle by 323.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 27,366 shares of the company's stock valued at $1,241,000 after purchasing an additional 20,905 shares during the last quarter. Institutional investors and hedge funds own 53.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on BKE shares. Wall Street Zen downgraded Buckle from a "buy" rating to a "hold" rating in a report on Saturday, April 4th. UBS Group reduced their target price on Buckle from $55.00 to $53.00 and set a "neutral" rating on the stock in a report on Monday, March 16th. Finally, Weiss Ratings raised Buckle from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, March 20th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $53.00.

Buckle Stock Down 0.5%

Shares of NYSE BKE opened at $55.35 on Friday. Buckle, Inc. has a fifty-two week low of $34.95 and a fifty-two week high of $61.69. The business has a 50 day moving average price of $52.44 and a two-hundred day moving average price of $53.73. The firm has a market cap of $2.85 billion, a PE ratio of 13.37 and a beta of 1.16.

Buckle (NYSE:BKE - Get Free Report) last announced its earnings results on Friday, March 13th. The company reported $1.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.51 by $0.08. The company had revenue of $399.14 million for the quarter, compared to analyst estimates of $396.45 million. Buckle had a return on equity of 45.18% and a net margin of 16.16%.Buckle's quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the company posted $1.53 EPS.

Buckle Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 29th. Shareholders of record on Wednesday, April 15th were issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a yield of 2.5%. The ex-dividend date of this dividend was Wednesday, April 15th. Buckle's dividend payout ratio (DPR) is currently 33.82%.

Insider Activity

In related news, EVP Kari G. Smith sold 30,000 shares of Buckle stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $54.57, for a total value of $1,637,100.00. Following the completion of the transaction, the executive vice president directly owned 83,814 shares in the company, valued at approximately $4,573,729.98. This trade represents a 26.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michelle Hoffman sold 16,200 shares of the business's stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $54.80, for a total value of $887,760.00. Following the completion of the sale, the senior vice president directly owned 29,682 shares of the company's stock, valued at approximately $1,626,573.60. This represents a 35.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 126,200 shares of company stock valued at $6,517,932 in the last three months. Insiders own 39.00% of the company's stock.

About Buckle

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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