Principal Financial Group Inc. Raises Stock Holdings in Buckle, Inc. (The) $BKE

Key Points

• Principal Financial Group boosted its Buckle stake by 31.9% in the first quarter, ending with 190,040 shares valued at about $9.57 million. Other institutional investors also increased holdings, and hedge funds now own roughly 53.93% of the stock.
• Buckle reported solid quarterly results, with EPS of $0.92 beating estimates by $0.18 and revenue of $288.74 million slightly topping expectations. Revenue rose 6.1% year over year, and the company posted a strong net margin of 16.85%.
• The company declared a quarterly dividend of $0.35 per share, payable July 29, implying an annualized yield of 3.3%. Meanwhile, analysts remain cautious, with an average rating of “Hold” and a consensus price target of $47.00.

Principal Financial Group Inc. grew its position in Buckle, Inc. (The) (NYSE:BKE - Free Report) by 31.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 190,040 shares of the company's stock after acquiring an additional 45,942 shares during the quarter. Principal Financial Group Inc. owned about 0.37% of Buckle worth $9,570,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Geneos Wealth Management Inc. raised its position in Buckle by 1,928.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 649 shares of the company's stock valued at $25,000 after purchasing an additional 617 shares during the last quarter. Miller Capital Partners Inc. purchased a new position in Buckle during the 4th quarter worth $37,000. Hantz Financial Services Inc. grew 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 last quarter. EverSource Wealth Advisors LLC increased its stake in Buckle by 162.2% in the second quarter. EverSource Wealth Advisors LLC now owns 957 shares of the company's stock valued at $43,000 after purchasing an additional 592 shares during the period. Finally, Quarry LP acquired a new position in Buckle in the third quarter valued at $65,000. 53.93% of the stock is currently owned by hedge funds and other institutional investors.

Buckle Trading Up 1.1%

Shares of BKE opened at $42.44 on Friday. The stock's 50 day moving average is $44.37 and its two-hundred day moving average is $49.51. Buckle, Inc. has a twelve month low of $40.73 and a twelve month high of $61.69. The firm has a market capitalization of $2.19 billion, a PE ratio of 9.73 and a beta of 1.08.

Buckle (NYSE:BKE - Get Free Report) last posted its quarterly earnings results on Friday, May 29th. The company reported $0.92 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts' expectations of $287.68 million. During the same period last year, the firm earned $0.70 EPS. The company's quarterly revenue was up 6.1% compared to the same quarter last year.

Buckle Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Wednesday, July 15th will be given a $0.35 dividend. The ex-dividend date is Wednesday, July 15th. This represents a $1.40 annualized dividend and a yield of 3.3%. Buckle's dividend payout ratio is presently 32.11%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on BKE. Wall Street Zen downgraded shares of Buckle from a "buy" rating to a "hold" rating in a research note on Saturday, April 4th. Weiss Ratings cut Buckle from a "hold (c+)" rating to a "hold (c)" rating in a research report on Thursday, June 25th. Finally, UBS Group reduced their price objective on Buckle from $52.00 to $47.00 and set a "neutral" rating for the company in a research note on Monday, June 1st. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, Buckle currently has an average rating of "Hold" and an average price target of $47.00.

Insider Buying and Selling

In other Buckle 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 sale, the director owned 52,908 shares of the company's stock, valued at approximately $2,351,231.52. This trade represents a 4.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 38.40% of the company's stock.

Buckle Company Profile

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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