State of Wyoming Increases Stock Position in Buckle, Inc. (The) $BKE

Key Points

• The State of Wyoming increased its stake in Buckle, Inc. by 239% during the first quarter, acquiring an additional 5,223 shares, bringing its total to 7,408 shares worth approximately $284,000.
• Several institutional investors also boosted their holdings in Buckle, with Mirae Asset Global Investments increasing its shares by 12.6% and Principal Financial Group by 2.3%.
• The company's recent quarterly earnings report showed earnings per share of $0.89, exceeding analysts' estimates by $0.06, and revenue of $305.74 million, indicating an 8.3% increase compared to the previous year.

State of Wyoming increased its stake in Buckle, Inc. (The) (NYSE:BKE - Free Report) by 239.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,408 shares of the company's stock after buying an additional 5,223 shares during the period. State of Wyoming's holdings in Buckle were worth $284,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its stake in Buckle by 5.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,360,826 shares of the company's stock worth $52,147,000 after buying an additional 74,614 shares in the last quarter. American Century Companies Inc. raised its stake in Buckle by 13.5% in the first quarter. American Century Companies Inc. now owns 1,063,856 shares of the company's stock worth $40,767,000 after buying an additional 126,331 shares in the last quarter. Victory Capital Management Inc. raised its stake in Buckle by 10.0% in the first quarter. Victory Capital Management Inc. now owns 645,958 shares of the company's stock worth $24,753,000 after buying an additional 58,785 shares in the last quarter. Northern Trust Corp raised its stake in Buckle by 6.3% in the fourth quarter. Northern Trust Corp now owns 385,627 shares of the company's stock worth $19,594,000 after buying an additional 23,002 shares in the last quarter. Finally, Invesco Ltd. increased its stake in shares of Buckle by 42.1% during the first quarter. Invesco Ltd. now owns 329,601 shares of the company's stock valued at $12,630,000 after purchasing an additional 97,679 shares in the last quarter. 53.93% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. UBS Group raised their target price on shares of Buckle from $51.00 to $54.00 and gave the company a "neutral" rating in a research note on Monday, August 25th. Wall Street Zen raised shares of Buckle from a "hold" rating to a "buy" rating in a research note on Saturday. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $54.00.

Buckle Trading Down 0.6%

Shares of BKE traded down $0.38 during trading hours on Monday, reaching $58.90. 58,283 shares of the stock traded hands, compared to its average volume of 539,462. Buckle, Inc. has a 52-week low of $33.12 and a 52-week high of $60.55. The company's 50-day moving average price is $51.85 and its two-hundred day moving average price is $43.56. The company has a market cap of $3.01 billion, a P/E ratio of 14.70 and a beta of 1.02.

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

Insider Transactions at Buckle

In related news, 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 transaction, the chief executive officer directly owned 1,655,204 shares in the company, valued at approximately $72,034,478.08. This represents a 1.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director John P. Peetz sold 1,500 shares of the business's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $55.74, for a total transaction of $83,610.00. Following the completion of the sale, the director directly owned 23,623 shares of the company's stock, valued at approximately $1,316,746.02. This trade represents a 5.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 31,953 shares of company stock worth $1,472,125 in the last three months. Insiders own 39.80% of the company's stock.

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.