Chase Investment Counsel Corp Acquires New Stake in Buckle, Inc. (The) $BKE

Key Points

• Chase Investment Counsel Corp. acquired 36,000 Buckle shares worth approximately $1.52 million, representing about 0.07% of the company.
• Buckle reported quarterly earnings of $0.92 per share, surpassing estimates of $0.74, while revenue rose 6.1% year over year to $288.74 million.
• The company maintains a quarterly dividend of $0.35 per share, equivalent to a 3.2% yield, while analysts retain a consensus “Hold” rating with an average price target of $46.

Chase Investment Counsel Corp bought a new position in shares of Buckle, Inc. (The) (NYSE:BKE - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 36,000 shares of the company's stock, valued at approximately $1,519,000. Chase Investment Counsel Corp owned about 0.07% of Buckle as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BKE. AQR Capital Management LLC increased its stake in shares of Buckle by 9.5% in the first quarter. AQR Capital Management LLC now owns 94,408 shares of the company's stock valued at $3,618,000 after buying an additional 8,202 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Buckle by 4.5% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,363 shares of the company's stock worth $704,000 after acquiring an additional 797 shares during the period. Millennium Management LLC lifted its stake in shares of Buckle by 15.3% in the first quarter. Millennium Management LLC now owns 99,547 shares of the company's stock worth $3,815,000 after acquiring an additional 13,189 shares during the period. Geneos Wealth Management Inc. boosted its holdings in Buckle by 1,928.1% in the first quarter. Geneos Wealth Management Inc. now owns 649 shares of the company's stock valued at $25,000 after acquiring an additional 617 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its holdings in Buckle by 323.6% in the second quarter. Russell Investments Group Ltd. now owns 27,366 shares of the company's stock valued at $1,241,000 after acquiring an additional 20,905 shares during the last quarter. 53.93% of the stock is owned by institutional investors and hedge funds.

Buckle Price Performance

Shares of NYSE:BKE opened at $44.09 on Monday. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of 10.11 and a beta of 1.10. The business's 50-day moving average is $43.77 and its 200-day moving average is $48.55. 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 announced its earnings results on Friday, May 29th. The company reported $0.92 EPS for the quarter, beating the consensus estimate of $0.74 by $0.18. The company had revenue of $288.74 million for the quarter, compared to analyst estimates of $287.68 million. Buckle had a return on equity of 47.35% and a net margin of 16.85%.The firm's revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.70 EPS.

Buckle Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 29th. Stockholders 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 annualized dividend and a dividend yield of 3.2%. Buckle's dividend payout ratio (DPR) is 32.11%.

Analysts Set New Price Targets

Several research firms have issued reports on BKE. Weiss Ratings upgraded shares of Buckle from a "hold (c)" rating to a "hold (c+)" rating in a report on Tuesday, July 28th. UBS Group reduced their price objective on shares of Buckle from $47.00 to $46.00 and set a "neutral" rating on the stock in a research note on Tuesday, August 11th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $46.00.

Insider Activity at Buckle

In other news, Director Bill L. Fairfield sold 2,500 shares of Buckle stock in a transaction on Monday, June 8th. The shares were sold at an average price of $44.44, for a total value of $111,100.00. Following the completion of the sale, the director owned 52,908 shares in the company, valued at $2,351,231.52. The trade was a 4.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 38.40% of the stock is currently 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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