Freestone Grove Partners LP Invests $2.71 Million in Buckle, Inc. (The) $BKE

Key Points

• Freestone Grove Partners acquired 64,192 Buckle shares worth approximately $2.71 million, representing about 0.12% of the retailer. Institutional investors collectively own 53.93% of Buckle.
• Buckle reported quarterly EPS of $0.87, beating estimates by $0.06, while revenue rose 4.6% year over year to $319.82 million.
• Analysts maintain a consensus “Hold” rating with a $46 price target. The stock opened at $43.59, and Buckle’s $0.35 quarterly dividend implies a 3.2% annualized yield.

Freestone Grove Partners LP bought a new position in Buckle, Inc. (The) (NYSE:BKE - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 64,192 shares of the company's stock, valued at approximately $2,709,000. Freestone Grove Partners LP owned about 0.12% of Buckle as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Man Group plc purchased a new position in Buckle during the second quarter worth approximately $2,334,000. Jupiter Topco LLC acquired a new position in shares of Buckle in the 2nd quarter valued at $551,000. Palisade Capital Management LP purchased a new stake in shares of Buckle during the 2nd quarter valued at $8,956,000. Canada Pension Plan Investment Board purchased a new stake in shares of Buckle during the 2nd quarter valued at $637,000. Finally, Legal & General Group Plc acquired a new stake in shares of Buckle during the 2nd quarter worth $3,234,000. 53.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Buckle Stock Up 1.6%

Buckle stock opened at $43.59 on Friday. Buckle, Inc. has a 52-week low of $40.73 and a 52-week high of $61.69. The firm has a fifty day moving average of $43.54 and a 200-day moving average of $48.16. The firm has a market capitalization of $2.25 billion, a P/E ratio of 10.04 and a beta of 1.10.

Buckle (NYSE:BKE - Get Free Report) last posted 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 business had revenue of $319.82 million for the quarter, compared to analyst estimates of $319.80 million. Buckle had a net margin of 16.62% and a return on equity of 46.91%. The business's quarterly revenue was up 4.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.89 EPS.

Buckle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 29th. Shareholders of record on Wednesday, July 15th were given 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 32.26%.

Insider Buying and Selling

In other Buckle 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 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 document filed with the SEC, which is available through this hyperlink. 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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