Buckle, Inc. (The) $BKE is Impala Asset Management LLC's 3rd Largest Position

Key Points

• Impala Asset Management boosted its Buckle stake by 68.1% in Q4, making BKE its third-largest position and representing 13.5% of the fund’s portfolio.
• Insider selling picked up recently, with director Bill L. Fairfield and EVP Kari G. Smith among those selling shares; insiders sold 128,700 shares worth about $6.63 million over the last three months.
• Buckle’s latest results and dividend were solid: it beat quarterly EPS estimates, posted 6.1% revenue growth, and announced a $0.35 quarterly dividend, equal to a 3.1% yield.

Impala Asset Management LLC raised its position in Buckle, Inc. (The) (NYSE:BKE - Free Report) by 68.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 400,119 shares of the company's stock after buying an additional 162,119 shares during the period. Buckle accounts for 13.5% of Impala Asset Management LLC's investment portfolio, making the stock its 3rd biggest holding. Impala Asset Management LLC owned 0.78% of Buckle worth $21,374,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Entropy Technologies LP purchased a new stake in Buckle in the 4th quarter valued at about $667,000. CANADA LIFE ASSURANCE Co increased its stake in Buckle by 7.2% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 33,767 shares of the company's stock valued at $1,805,000 after buying an additional 2,264 shares during the last quarter. Morgan Stanley increased its stake in Buckle by 26.8% in 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 last quarter. Rafferty Asset Management LLC increased its stake in Buckle by 12.6% in the 4th quarter. Rafferty Asset Management LLC now owns 6,460 shares of the company's stock valued at $345,000 after buying an additional 725 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in Buckle by 0.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,370,398 shares of the company's stock valued at $73,207,000 after buying an additional 5,784 shares during the last quarter. Hedge funds and other institutional investors own 53.93% of the company's stock.

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 shares were 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 of the company's stock, valued at $2,351,231.52. This represents a 4.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kari G. Smith sold 48,860 shares of the stock in a transaction that occurred on Tuesday, March 17th. The shares were sold at an average price of $50.39, for a total transaction of $2,462,055.40. Following the transaction, the executive vice president directly owned 76,754 shares of the company's stock, valued at $3,867,634.06. This represents a 38.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 128,700 shares of company stock valued at $6,629,032 in the last three months. Company insiders own 39.00% of the company's stock.

Analyst Ratings Changes

BKE has been the subject of several analyst reports. UBS Group decreased their price objective on shares of Buckle from $52.00 to $47.00 and set a "neutral" rating for the company in a research note on Monday, June 1st. Weiss Ratings lowered shares of Buckle from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, May 29th. Finally, Wall Street Zen lowered shares of Buckle from a "buy" rating to a "hold" rating in a research note on Saturday, April 4th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $47.00.

Buckle Stock Up 0.3%

Buckle stock opened at $45.24 on Friday. Buckle, Inc. has a twelve month low of $42.39 and a twelve month high of $61.69. The firm has a 50 day moving average price of $50.55 and a 200-day moving average price of $52.21. The company has a market capitalization of $2.33 billion, a P/E ratio of 10.38 and a beta of 1.08.

Buckle (NYSE:BKE - Get Free Report) last released its earnings results on Friday, May 29th. The company reported $0.92 earnings per share for the quarter, beating analysts' consensus estimates of $0.74 by $0.18. Buckle had a net margin of 16.85% and a return on equity of 47.35%. The firm had revenue of $288.74 million during the quarter, compared to the consensus estimate of $287.68 million. During the same period in the prior year, the firm earned $0.70 EPS. The company's revenue was up 6.1% compared to the same quarter last year.

Buckle Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Wednesday, July 15th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.1%. The ex-dividend date of this dividend is Wednesday, July 15th. Buckle's dividend payout ratio is currently 32.11%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.