Bank of New York Mellon Corp Purchases New Stake in Buckle, Inc. (The) $BKE

Key Points

• Bank of New York Mellon acquired 650,863 Buckle shares worth approximately $27.5 million, gaining a 1.26% stake. Institutional investors collectively own 53.93% of the retailer.
• Buckle exceeded quarterly earnings expectations, reporting $0.87 EPS versus an $0.81 consensus and revenue of $319.82 million, up 4.6% year over year.
• The company pays a quarterly dividend of $0.35, equivalent to a $1.40 annualized payout and a 3.2% yield. Analysts maintain a consensus “Hold” rating with a $46 price target.

Bank of New York Mellon Corp acquired a new position in Buckle, Inc. (The) (NYSE:BKE - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 650,863 shares of the company's stock, valued at approximately $27,466,000. Bank of New York Mellon Corp owned 1.26% of Buckle as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Amundi increased its position in shares of Buckle by 676.9% in the fourth quarter. Amundi now owns 421,200 shares of the company's stock worth $22,501,000 after purchasing an additional 366,986 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Buckle by 44.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,043,548 shares of the company's stock worth $55,746,000 after buying an additional 323,361 shares during the period. Lazard Asset Management LLC lifted its stake in shares of Buckle by 1,066.8% in the 1st quarter. Lazard Asset Management LLC now owns 297,594 shares of the company's stock valued at $14,987,000 after acquiring an additional 272,088 shares during the last quarter. Morgan Stanley boosted its position in Buckle by 26.8% during the 4th quarter. Morgan Stanley now owns 1,244,389 shares of the company's stock valued at $66,475,000 after buying an additional 263,338 shares during the period. Finally, Two Sigma Investments LP lifted its holdings in Buckle by 3,695.1% in the 3rd quarter. Two Sigma Investments LP now owns 242,510 shares of the company's stock worth $14,226,000 after buying an additional 236,120 shares during the period. 53.93% of the stock is currently owned by hedge funds and other institutional investors.

Buckle Stock Performance

Shares of BKE opened at $43.59 on Friday. The stock has a market capitalization of $2.25 billion, a PE ratio of 10.04 and a beta of 1.10. The company's fifty day moving average is $43.54 and its 200 day moving average is $48.16. Buckle, Inc. has a fifty-two week low of $40.73 and a fifty-two week high of $61.69.

Buckle (NYSE:BKE - Get Free Report) last released its earnings results on Friday, August 21st. The company reported $0.87 earnings per share 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 the consensus estimate of $319.80 million. Buckle had a return on equity of 46.91% and a net margin of 16.62%.The company's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.89 EPS.

Buckle Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 29th. Shareholders of record on Wednesday, July 15th were paid a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a $1.40 annualized dividend and a yield of 3.2%. Buckle's dividend payout ratio (DPR) is presently 32.26%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BKE. UBS Group restated a "neutral" rating on shares of Buckle in a research note on Monday, August 24th. Weiss Ratings lowered Buckle from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, August 14th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $46.00.

Insider Activity

In other news, Director Bill L. Fairfield sold 2,500 shares of the company's 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 transaction, the director owned 52,908 shares of the company's stock, valued at approximately $2,351,231.52. This represents a 4.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 38.40% of the stock is owned by company insiders.

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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