Palisade Capital Management LP Invests $8.96 Million in Buckle, Inc. (The) $BKE

Key Points

• Palisade Capital Management initiated a $8.96 million position in Buckle, purchasing 212,224 shares, while institutional investors collectively own 53.93% of the company.
• Buckle exceeded quarterly earnings expectations, reporting $0.87 EPS versus the $0.81 consensus estimate, while revenue rose 4.6% year over year to $319.82 million.
• Shares recently traded near $43.58, and analysts maintain a consensus “Hold” rating with a $46 average price target; Buckle also offers a $0.35 quarterly dividend, yielding about 3.2% annually.

Palisade Capital Management LP purchased a new position in shares of Buckle, Inc. (The) (NYSE:BKE - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 212,224 shares of the company's stock, valued at approximately $8,956,000. Palisade Capital Management LP owned approximately 0.41% of Buckle as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Hantz Financial Services Inc. increased its position in Buckle by 51.6% during the 4th quarter. Hantz Financial Services Inc. now owns 702 shares of the company's stock worth $38,000 after purchasing an additional 239 shares during the period. Unison Advisors LLC lifted its holdings in shares of Buckle by 0.6% in the 1st quarter. Unison Advisors LLC now owns 42,307 shares of the company's stock valued at $2,131,000 after buying an additional 262 shares during the period. Glenmede Investment Management LP lifted its holdings in shares of Buckle by 3.8% in the 3rd quarter. Glenmede Investment Management LP now owns 7,477 shares of the company's stock valued at $439,000 after buying an additional 277 shares during the period. Thrivent Financial for Lutherans boosted its stake in shares of Buckle by 1.4% in the second quarter. Thrivent Financial for Lutherans now owns 22,342 shares of the company's stock valued at $1,013,000 after buying an additional 314 shares in the last quarter. Finally, Vident Advisory LLC boosted its stake in shares of Buckle by 2.1% in the fourth quarter. Vident Advisory LLC now owns 14,982 shares of the company's stock valued at $800,000 after buying an additional 315 shares in the last quarter. Institutional investors and hedge funds own 53.93% of the company's stock.

Analyst Ratings Changes

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

Buckle Trading Down 1.9%

BKE stock opened at $43.58 on Wednesday. The firm has a 50 day moving average of $43.61 and a 200-day moving average of $48.31. The company has a market cap of $2.25 billion, a price-to-earnings ratio of 10.04 and a beta of 1.10. 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, August 21st. The company reported $0.87 earnings per share for the quarter, topping analysts' consensus estimates of $0.81 by $0.06. Buckle had a return on equity of 46.91% and a net margin of 16.62%.The business had revenue of $319.82 million for the quarter, compared to analysts' expectations of $319.80 million. During the same quarter in the prior year, the firm posted $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 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 3.2%. Buckle's dividend payout ratio is 32.26%.

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.

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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