Engineers Gate Manager LP Lowers Holdings in Buckle, Inc. (The) $BKE

Key Points

• Engineers Gate Manager LP cut its Buckle position by 91.1% in the second quarter, selling 74,314 shares and retaining 7,270 shares valued at approximately $307,000. Institutional investors and hedge funds collectively own 53.93% of Buckle.
• Buckle reported quarterly EPS of $0.87, beating estimates of $0.81, while revenue rose 4.6% year over year to $319.82 million. The company also declared a quarterly dividend of $0.35 per share, representing a 3.3% annualized yield.
• Shares opened at $42.32, below the analyst consensus price target of $46.00. Analysts maintain a consensus “Hold” rating, with the stock trading near its 52-week low of $39.44.

Engineers Gate Manager LP reduced its position in shares of Buckle, Inc. (The) (NYSE:BKE - Free Report) by 91.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,270 shares of the company's stock after selling 74,314 shares during the period. Engineers Gate Manager LP's holdings in Buckle were worth $307,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. raised its position in Buckle by 51.6% in the 4th quarter. Hantz Financial Services Inc. now owns 702 shares of the company's stock valued at $38,000 after purchasing an additional 239 shares during the last quarter. Unison Advisors LLC raised its position in Buckle by 0.6% in the 1st quarter. Unison Advisors LLC now owns 42,307 shares of the company's stock worth $2,131,000 after purchasing an additional 262 shares during the last quarter. Handelsbanken Fonder AB lifted its holdings in Buckle by 3.4% during the 2nd quarter. Handelsbanken Fonder AB now owns 12,100 shares of the company's stock worth $511,000 after buying an additional 400 shares in the last quarter. OFS Enterprise LLC lifted its holdings in Buckle by 1.0% during the 2nd quarter. OFS Enterprise LLC now owns 43,779 shares of the company's stock worth $1,847,000 after buying an additional 430 shares in the last quarter. Finally, Beacon Investment Advisors LLC boosted its position in Buckle by 1.3% in the 4th quarter. Beacon Investment Advisors LLC now owns 35,725 shares of the company's stock valued at $1,908,000 after buying an additional 449 shares during the last quarter. 53.93% of the stock is currently owned by institutional investors and hedge funds.

Buckle Stock Performance

NYSE BKE opened at $42.32 on Friday. The stock has a market capitalization of $2.18 billion, a price-to-earnings ratio of 9.75 and a beta of 1.11. The stock's 50 day moving average price is $43.10 and its two-hundred day moving average price is $46.55. Buckle, Inc. has a 52 week low of $39.44 and a 52 week high of $60.08.

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

Buckle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 29th. Stockholders of record on Thursday, October 15th will be paid a dividend of $0.35 per share. The ex-dividend date is Thursday, October 15th. This represents a $1.40 annualized dividend and a dividend yield of 3.3%. Buckle's payout ratio is currently 32.26%.

Wall Street Analysts Forecast Growth

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