Bank of America Corp DE Boosts Stock Holdings in Buckle, Inc. (The) $BKE

Key Points

• Bank of America increased its Buckle stake by 13.2% in the first quarter, purchasing 27,352 additional shares and bringing its holdings to 234,609 shares valued at approximately $11.8 million. Institutional investors and hedge funds collectively own 53.93% of BKE.
• Buckle reported quarterly earnings of $0.87 per share, exceeding estimates of $0.81, while revenue rose 4.6% year over year to $319.82 million. The company also maintained its quarterly dividend at $0.35 per share, representing a 3.2% yield.
• Analyst sentiment remains cautious, with a consensus “Hold” rating and a $46 price target after UBS lowered its target from $47. Shares recently traded around $43.80, well below their 52-week high of $61.69.

Bank of America Corp DE raised its stake in Buckle, Inc. (The) (NYSE:BKE - Free Report) by 13.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 234,609 shares of the company's stock after purchasing an additional 27,352 shares during the period. Bank of America Corp DE owned about 0.46% of Buckle worth $11,815,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Edgestream Partners L.P. raised its stake in Buckle by 204.8% in the first quarter. Edgestream Partners L.P. now owns 63,942 shares of the company's stock valued at $3,220,000 after buying an additional 42,963 shares in the last quarter. California State Teachers Retirement System boosted its stake in Buckle by 38.7% during the 1st quarter. California State Teachers Retirement System now owns 40,898 shares of the company's stock worth $2,060,000 after purchasing an additional 11,420 shares during the period. Royal Bank of Canada boosted its stake in shares of Buckle by 15.5% during the first quarter. Royal Bank of Canada now owns 8,799 shares of the company's stock worth $444,000 after buying an additional 1,182 shares during the period. Empowered Funds LLC purchased a new position in shares of Buckle in the 1st quarter valued at approximately $384,000. Finally, Quantinno Capital Management LP grew its position in Buckle by 6.3% in the 1st quarter. Quantinno Capital Management LP now owns 11,277 shares of the company's stock valued at $568,000 after buying an additional 665 shares during the last quarter. 53.93% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on BKE. Weiss Ratings cut shares of Buckle from a "hold (c+)" rating to a "hold (c)" rating in a research note on Friday, August 14th. UBS Group dropped their price target on Buckle from $47.00 to $46.00 and set a "neutral" rating for the company in a research report on Tuesday, August 11th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $46.00.

Buckle Trading Up 2.7%

Shares of Buckle stock opened at $43.80 on Friday. Buckle, Inc. has a twelve month low of $40.73 and a twelve month high of $61.69. The stock has a market cap of $2.26 billion, a price-to-earnings ratio of 10.09 and a beta of 1.10. The company has a fifty day moving average price of $43.61 and a 200 day moving average price of $48.38.

Buckle (NYSE:BKE - Get Free Report) last announced its earnings results on Friday, August 21st. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.81 by $0.06. The business had revenue of $319.82 million for the quarter, compared to the consensus estimate of $319.80 million. Buckle had a return on equity of 47.35% and a net margin of 16.85%.The company's revenue was up 4.6% on a year-over-year basis. During the same period last year, the business posted $0.89 EPS.

Buckle Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 29th. Investors of record on Wednesday, July 15th were paid a $0.35 dividend. The ex-dividend date was Wednesday, July 15th. This represents a $1.40 annualized dividend and a dividend yield of 3.2%. Buckle's payout ratio is 32.11%.

Insider Activity

In other news, Director Bill L. Fairfield sold 2,500 shares of the stock in a transaction that occurred on Monday, June 8th. The stock was sold at an average price of $44.44, for a total transaction of $111,100.00. Following the completion of the transaction, the director directly owned 52,908 shares in the company, valued at approximately $2,351,231.52. This represents a 4.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 38.40% of the stock is currently owned by insiders.

Buckle Profile

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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