Baird Financial Group Inc. Raises Stock Holdings in Buckle, Inc. (The) $BKE

Key Points

• Baird Financial Group Inc. increased its stake in Buckle, Inc. by 29.9%, now owning 57,368 shares valued at approximately $2.2 million.
• Multiple large investors have also expanded their positions in Buckle, with Charles Schwab boosting its holdings by 5.8% and Invesco lifting its ownership by 42.1% in the same quarter.
• Buckle reported earnings of $0.89 per share for the last quarter, exceeding analysts' expectations of $0.83, and achieved a revenue increase of 8.3% year-over-year.

Baird Financial Group Inc. lifted its holdings in shares of Buckle, Inc. (The) (NYSE:BKE - Free Report) by 29.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 57,368 shares of the company's stock after purchasing an additional 13,211 shares during the quarter. Baird Financial Group Inc. owned approximately 0.11% of Buckle worth $2,198,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of BKE. State of Wyoming acquired a new position in Buckle in the 4th quarter valued at $111,000. Viking Fund Management LLC bought a new position in Buckle during the 1st quarter valued at about $115,000. Novem Group bought a new position in Buckle during the 4th quarter valued at about $227,000. FORA Capital LLC bought a new position in shares of Buckle in the fourth quarter worth about $280,000. Finally, Aigen Investment Management LP bought a new position in shares of Buckle in the first quarter worth about $232,000. Institutional investors and hedge funds own 53.93% of the company's stock.

Buckle Price Performance

Shares of NYSE:BKE traded down $2.06 during mid-day trading on Friday, hitting $59.52. The company had a trading volume of 423,190 shares, compared to its average volume of 531,997. The firm has a fifty day moving average price of $53.13 and a 200 day moving average price of $44.18. The company has a market capitalization of $3.04 billion, a PE ratio of 14.88 and a beta of 1.02. Buckle, Inc. has a one year low of $33.12 and a one year high of $61.62.

Buckle (NYSE:BKE - Get Free Report) last posted its quarterly earnings data on Friday, August 22nd. The company reported $0.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.83 by $0.06. The firm had revenue of $305.74 million for the quarter, compared to the consensus estimate of $292.61 million. Buckle had a net margin of 16.12% and a return on equity of 43.97%. The business's revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.78 EPS.

Buckle Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 29th. Stockholders of record on Wednesday, October 15th will be issued a dividend of $0.35 per share. The ex-dividend date is Wednesday, October 15th. This represents a $1.40 annualized dividend and a dividend yield of 2.4%. Buckle's dividend payout ratio (DPR) is presently 35.00%.

Insider Buying and Selling

In related news, Director James E. Shada sold 20,000 shares of Buckle stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $59.49, for a total value of $1,189,800.00. Following the completion of the sale, the director directly owned 55,352 shares in the company, valued at approximately $3,292,890.48. This trade represents a 26.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John P. Peetz sold 1,500 shares of Buckle stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $55.74, for a total value of $83,610.00. Following the completion of the sale, the director owned 23,623 shares of the company's stock, valued at $1,316,746.02. The trade was a 5.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 57,500 shares of company stock valued at $3,320,030 over the last ninety days. Insiders own 39.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Buckle from a "hold" rating to a "buy" rating in a report on Saturday, September 6th. UBS Group raised their target price on shares of Buckle from $51.00 to $54.00 and gave the company a "neutral" rating in a research report on Monday, August 25th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, Buckle currently has an average rating of "Hold" and an average price target of $54.00.

Buckle Company Profile

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.