BlackRock Inc. Purchases New Position in Buckle, Inc. (The) $BKE

Key Points

• BlackRock acquired 4,949,960 Buckle shares worth approximately $208.9 million, giving it a 9.61% stake. Institutional investors collectively own 53.93% of the company.
• Buckle’s latest quarterly results exceeded expectations, with earnings of $0.87 per share versus the $0.81 consensus estimate and revenue of $319.82 million, up 4.6% year over year.
• The stock opened at $42.81, while analysts maintain an average “Hold” rating and a consensus price target of $46. Buckle also pays a quarterly dividend of $0.35 per share, yielding about 3.3% annually.

BlackRock Inc. acquired a new position in Buckle, Inc. (The) (NYSE:BKE - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,949,960 shares of the company's stock, valued at approximately $208,888,000. BlackRock Inc. owned about 9.61% of Buckle as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Deutsche Bank AG bought a new stake in Buckle in the second quarter worth approximately $1,607,000. Chase Investment Counsel Corp acquired a new stake in shares of Buckle in the 2nd quarter valued at $1,519,000. Global Retirement Partners LLC acquired a new stake in shares of Buckle in the 2nd quarter valued at $123,000. Bank of New York Mellon Corp bought a new stake in Buckle in the second quarter worth $27,466,000. Finally, Summit Global Investments bought a new stake in Buckle in the second quarter worth $992,000. Institutional investors own 53.93% of the company's stock.

Analysts Set New Price Targets

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

Buckle Trading Down 3.1%

BKE opened at $42.81 on Friday. The business has a 50 day moving average of $43.57 and a 200-day moving average of $48.19. The stock has a market capitalization of $2.21 billion, a price-to-earnings ratio of 9.86 and a beta of 1.10. Buckle, Inc. has a 1-year low of $40.73 and a 1-year high of $61.69.

Buckle (NYSE:BKE - Get Free Report) last issued its quarterly earnings results on Friday, August 21st. The company reported $0.87 earnings per share for the quarter, beating analysts' consensus estimates of $0.81 by $0.06. The firm had revenue of $319.82 million during the quarter, compared to the consensus estimate of $319.80 million. Buckle had a net margin of 16.62% and a return on equity of 46.91%. The business's revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.89 EPS.

Buckle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 29th. Investors of record on Wednesday, July 15th were given a dividend of $0.35 per share. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a $1.40 dividend on an annualized basis and a yield of 3.3%. Buckle's dividend payout ratio (DPR) is 32.26%.

Insider Transactions at Buckle

In related news, Director Bill L. Fairfield sold 2,500 shares of the business's stock in a transaction dated 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 directly owned 52,908 shares in the company, valued at $2,351,231.52. The trade was a 4.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 38.40% of the stock is owned by corporate 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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