Maverick Capital Ltd. Boosts Stake in Buckle, Inc. (The) $BKE

Key Points

• Maverick Capital Ltd. increased its stake in Buckle, Inc. by 178.4% in Q1, now holding 34,134 shares valued at approximately $1.31 million.
• Research analysts recently upgraded Buckle, raising the price target to $54.00 from $51.00, with a consensus rating of "Hold."
• Buckle reported a quarterly EPS of $0.89, exceeding expectations, with revenue of $305.74 million, an 8.3% year-over-year increase.

Maverick Capital Ltd. raised its position in shares of Buckle, Inc. (The) (NYSE:BKE - Free Report) by 178.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 34,134 shares of the company's stock after buying an additional 21,873 shares during the period. Maverick Capital Ltd. owned about 0.07% of Buckle worth $1,308,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of BKE. Caption Management LLC purchased a new position in shares of Buckle during the fourth quarter worth $36,000. State of Wyoming purchased a new position in Buckle in the fourth quarter valued at $111,000. Viking Fund Management LLC purchased a new position in Buckle in the first quarter valued at $115,000. Novem Group purchased a new position in Buckle in the fourth quarter valued at $227,000. Finally, Banque Cantonale Vaudoise purchased a new position in Buckle in the first quarter valued at $232,000. 53.93% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Buckle

In other news, CEO Dennis H. Nelson sold 20,453 shares of the business's stock in a transaction that occurred on Wednesday, June 11th. The stock was sold at an average price of $43.52, for a total transaction of $890,114.56. Following the sale, the chief executive officer owned 1,655,204 shares of the company's stock, valued at $72,034,478.08. The trade was a 1.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James E. Shada sold 10,000 shares of the business's stock in a transaction that occurred on Tuesday, July 22nd. The stock was sold at an average price of $49.84, for a total value of $498,400.00. Following the sale, the director directly owned 85,352 shares in the company, valued at $4,253,943.68. This trade represents a 10.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 31,953 shares of company stock valued at $1,472,125 in the last quarter. 39.00% of the stock is currently owned by corporate insiders.

Buckle Price Performance

Shares of BKE traded down $1.00 during midday trading on Friday, reaching $59.25. 771,278 shares of the stock were exchanged, compared to its average volume of 573,518. The business's 50-day moving average price is $51.85 and its 200 day moving average price is $43.55. Buckle, Inc. has a twelve month low of $33.12 and a twelve month high of $60.55. The company has a market capitalization of $3.03 billion, a price-to-earnings ratio of 14.81 and a beta of 1.02.

Buckle (NYSE:BKE - Get Free Report) last issued its quarterly earnings results on Friday, August 22nd. The company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.06. The firm had revenue of $305.74 million for the quarter, compared to analysts' expectations of $292.61 million. Buckle had a return on equity of 43.97% and a net margin of 16.12%.The firm's revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.78 EPS.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Wall Street Zen upgraded Buckle from a "hold" rating to a "buy" rating in a report on Saturday. UBS Group lifted their price target on Buckle from $51.00 to $54.00 and gave the stock a "neutral" rating in a report on Monday, August 25th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $54.00.

Buckle Profile

The Buckle, Inc operates as a retailer of casual apparel, footwear, and accessories for young men and women in the United States. It markets a selection of brand name casual apparel, including denims, other casual bottoms, tops, sportswear, outerwear, accessories, and footwear, as well as private label merchandise primarily comprising BKE, Buckle Black, Salvage, Red by BKE, Daytrip, Gimmicks, Gilded Intent, FITZ + EDDI, Willow & Root, Outpost Makers, Departwest, Sterling & Stitch, Reclaim, BKE Vintage, Nova Industries, J.B.