Bank of America Corp DE Purchases New Shares in Buckle, Inc. (The) $BKE

Key Points

• Bank of America acquired 140,216 Buckle shares worth approximately $5.9 million during the second quarter, giving it a 0.27% stake. Hedge funds and institutional investors collectively own 53.93% of Buckle.
• Buckle reported quarterly EPS of $0.87, beating estimates by $0.06, while revenue rose 4.6% year over year to $319.82 million. Shares opened at $42.32, near the lower end of their 12-month range.
• Buckle declared a quarterly dividend of $0.35 per share, equivalent to $1.40 annually and a 3.3% yield. Analysts maintain an average “Hold” rating with a $46 target price.

Bank of America Corp DE acquired a new position in Buckle, Inc. (The) (NYSE:BKE - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 140,216 shares of the company's stock, valued at approximately $5,917,000. Bank of America Corp DE owned about 0.27% of Buckle at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Hantz Financial Services Inc. grew its holdings in shares of Buckle by 51.6% in the fourth quarter. Hantz Financial Services Inc. now owns 702 shares of the company's stock valued at $38,000 after purchasing an additional 239 shares in the last quarter. Allworth Financial LP purchased a new stake in Buckle during the second quarter valued at $48,000. Caitong International Asset Management Co. Ltd purchased a new stake in Buckle during the fourth quarter valued at $88,000. Global Retirement Partners LLC purchased a new stake in Buckle during the second quarter valued at $123,000. Finally, SkyOak Wealth LLC bought a new position in Buckle during the first quarter valued at $246,000. 53.93% of the stock is owned by hedge funds and other institutional investors.

Buckle Trading Up 0.1%

Shares of BKE stock opened at $42.32 on Monday. Buckle, Inc. has a twelve month low of $39.44 and a twelve month high of $60.08. The stock has a fifty day simple moving average of $43.10 and a two-hundred day simple moving average of $46.53. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 9.75 and a beta of 1.11.

Buckle (NYSE:BKE - Get Free Report) last announced its quarterly 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 firm had revenue of $319.82 million for the quarter, compared to analyst estimates of $319.80 million. Buckle had a return on equity of 46.91% and a net margin of 16.62%.The business's revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.89 earnings per share.

Buckle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 29th. Investors of record on Thursday, October 15th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Thursday, October 15th. This represents a $1.40 dividend on an annualized basis and a yield of 3.3%. Buckle's dividend payout ratio (DPR) is presently 32.26%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on BKE shares. UBS Group reissued a "neutral" rating on shares of Buckle in a research note on Monday, August 24th. Weiss Ratings cut shares of Buckle from a "hold (c+)" rating to a "hold (c)" rating in a research report on Friday, August 14th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $46.00.

Buckle Company Profile

Buckle, Inc is a specialty retailer of casual apparel, footwear and accessories for young men and women. Its merchandise includes denim, tops, bottoms, dresses, outerwear, shoes, jewelry and other fashion accessories, combining national brands with merchandise sold under the company's private-label brands.

The company sells its products through a network of retail stores across the United States and through its e-commerce platform. Buckle stores typically emphasize personalized customer service and offer services such as complimentary alterations.

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