Lazard Asset Management LLC Raises Position in Buckle, Inc. (The) $BKE

Key Points

• Lazard Asset Management increased its Buckle position by 1,066.8% in the first quarter, holding 297,594 shares valued at approximately $15.0 million. Hedge funds and other institutional investors collectively own 53.93% of the company.
• Buckle reported quarterly earnings of $0.92 per share, beating estimates of $0.74, while revenue rose 6.1% year over year to $288.74 million. The company also maintains a $0.35 quarterly dividend, representing a 3.1% yield.
• BKE opened at $44.91, down 1.6%, and analysts maintain a consensus “Hold” rating with an average price target of $47.00. One director recently sold 2,500 shares, while insiders still own 38.4% of the stock.

Lazard Asset Management LLC lifted its position in shares of Buckle, Inc. (The) (NYSE:BKE - Free Report) by 1,066.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 297,594 shares of the company's stock after acquiring an additional 272,088 shares during the quarter. Lazard Asset Management LLC owned 0.58% of Buckle worth $14,987,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Amundi lifted its position in Buckle by 676.9% in the fourth quarter. Amundi now owns 421,200 shares of the company's stock valued at $22,501,000 after purchasing an additional 366,986 shares during the period. Goldman Sachs Group Inc. increased its position in Buckle by 44.9% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,043,548 shares of the company's stock worth $55,746,000 after purchasing an additional 323,361 shares during the period. Morgan Stanley raised its stake in shares of Buckle by 26.8% during the 4th quarter. Morgan Stanley now owns 1,244,389 shares of the company's stock worth $66,475,000 after buying an additional 263,338 shares in the last quarter. Two Sigma Investments LP raised its stake in shares of Buckle by 3,695.1% during the 3rd quarter. Two Sigma Investments LP now owns 242,510 shares of the company's stock worth $14,226,000 after buying an additional 236,120 shares in the last quarter. Finally, Qube Research & Technologies Ltd acquired a new stake in shares of Buckle in the 3rd quarter valued at approximately $10,393,000. 53.93% of the stock is owned by hedge funds and other institutional investors.

Buckle Trading Down 1.6%

BKE stock opened at $44.91 on Thursday. The firm has a 50 day moving average of $44.17 and a 200-day moving average of $49.26. The company has a market cap of $2.31 billion, a price-to-earnings ratio of 10.30 and a beta of 1.08. Buckle, Inc. has a 12-month low of $40.73 and a 12-month high of $61.69.

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

Buckle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 29th. Shareholders of record on Wednesday, July 15th were issued 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 3.1%. Buckle's dividend payout ratio is 32.11%.

Insiders Place Their Bets

In other news, Director Bill L. Fairfield sold 2,500 shares of the firm's stock in a transaction on Monday, June 8th. The stock was sold at an average price of $44.44, for a total value of $111,100.00. Following the completion of the transaction, the director owned 52,908 shares in the company, valued at $2,351,231.52. This trade represents a 4.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 38.40% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. Weiss Ratings upgraded Buckle from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday. UBS Group cut their price objective on Buckle from $52.00 to $47.00 and set a "neutral" rating for the company in a research report on Monday, June 1st. Finally, Wall Street Zen lowered shares of Buckle from a "buy" rating to a "hold" rating in a research report on Saturday, April 4th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $47.00.

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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