7,927 Shares in Buckle, Inc. (The) (NYSE:BKE) Acquired by Sierra Summit Advisors LLC

Key Points

• Sierra Summit Advisors LLC recently acquired 7,927 shares of Buckle, Inc. for about $304,000, marking a new investment position in the company.
• Buckle reported $0.70 earnings per share, exceeding analysts' estimates of $0.65, alongside revenue of $272.12 million for the quarter.
• The company declared a $0.35 quarterly dividend, with an annualized yield of 2.7%, and maintains a payout ratio of 35.99%.

Sierra Summit Advisors LLC bought a new stake in Buckle, Inc. (The) (NYSE:BKE - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 7,927 shares of the company's stock, valued at approximately $304,000.

A number of other institutional investors have also modified their holdings of BKE. Caption Management LLC acquired a new position in shares of Buckle in the 4th quarter valued at $36,000. Bellwether Advisors LLC acquired a new position in Buckle in the 4th quarter valued at $43,000. State of Wyoming acquired a new position in Buckle in the 4th quarter valued at $111,000. Viking Fund Management LLC acquired a new position in Buckle in the 1st quarter valued at $115,000. Finally, Novem Group acquired a new position in Buckle in the 4th quarter valued at $227,000. 53.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BKE has been the topic of several recent research reports. Wall Street Zen raised shares of Buckle from a "hold" rating to a "buy" rating in a research note on Friday, May 23rd. UBS Group reissued a "neutral" rating and issued a $51.00 price objective (up from $40.00) on shares of Buckle in a research note on Wednesday.

Insider Transactions at Buckle

In other Buckle news, Director James E. Shada sold 10,000 shares of the company's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $49.84, for a total value of $498,400.00. Following the transaction, the director directly owned 85,352 shares in the company, valued at approximately $4,253,943.68. This represents a 10.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Dennis H. Nelson sold 20,453 shares of the company's stock in a transaction dated Wednesday, June 11th. The shares were sold at an average price of $43.52, for a total transaction of $890,114.56. Following the completion of the transaction, the chief executive officer owned 1,655,204 shares in the company, valued at approximately $72,034,478.08. This trade represents a 1.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. 39.00% of the stock is currently owned by corporate insiders.

Buckle Trading Down 1.7%

Shares of NYSE:BKE traded down $0.98 on Thursday, reaching $56.29. 248,852 shares of the company were exchanged, compared to its average volume of 536,179. Buckle, Inc. has a 1-year low of $33.12 and a 1-year high of $57.53. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of 14.48 and a beta of 1.05. The company has a 50-day moving average of $47.63 and a 200-day moving average of $42.22.

Buckle (NYSE:BKE - Get Free Report) last posted its quarterly earnings results on Friday, May 23rd. The company reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.65 by $0.05. The business had revenue of $272.12 million for the quarter, compared to analysts' expectations of $264.28 million. Buckle had a net margin of 15.95% and a return on equity of 43.13%. The business's revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.70 EPS.

Buckle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 29th. Shareholders of record on Tuesday, July 15th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date was Tuesday, July 15th. Buckle's dividend payout ratio is 35.99%.

About Buckle

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.