Summit Global Investments Acquires Shares of 23,509 Buckle, Inc. (The) $BKE

Key Points

• Summit Global Investments acquired 23,509 Buckle shares in the second quarter, valued at approximately $992,000. Institutional investors collectively own 53.93% of the retailer.
• Buckle reported stronger-than-expected quarterly results, with EPS of $0.92 versus the $0.74 consensus estimate and revenue of $288.74 million, up 6.1% year over year.
• Analysts maintain a consensus “Hold” rating with an average price target of $46.00. The stock recently traded at $44.09, while Buckle announced a $0.35 quarterly dividend, representing a 3.2% yield.

Summit Global Investments bought a new position in Buckle, Inc. (The) (NYSE:BKE - Free Report) in the 2nd quarter, according to its most recent disclosure with the SEC. The firm bought 23,509 shares of the company's stock, valued at approximately $992,000.

A number of other large investors have also recently modified their holdings of the stock. Amundi grew its holdings in shares of Buckle by 676.9% during the 4th quarter. Amundi now owns 421,200 shares of the company's stock worth $22,501,000 after acquiring an additional 366,986 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Buckle by 44.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,043,548 shares of the company's stock worth $55,746,000 after acquiring an additional 323,361 shares in the last quarter. Lazard Asset Management LLC grew its stake in shares of Buckle by 1,066.8% in the first quarter. Lazard Asset Management LLC now owns 297,594 shares of the company's stock worth $14,987,000 after acquiring an additional 272,088 shares during the last quarter. Morgan Stanley grew its stake in shares of Buckle by 26.8% in the fourth quarter. Morgan Stanley now owns 1,244,389 shares of the company's stock worth $66,475,000 after acquiring an additional 263,338 shares during the last quarter. Finally, Two Sigma Investments LP increased its holdings in shares of Buckle by 3,695.1% during the third quarter. Two Sigma Investments LP now owns 242,510 shares of the company's stock valued at $14,226,000 after acquiring an additional 236,120 shares in the last quarter. Institutional investors own 53.93% of the company's stock.

Insider Buying and Selling

In other Buckle news, Director Bill L. Fairfield sold 2,500 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $2,351,231.52. The trade was a 4.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 38.40% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Weiss Ratings upgraded shares of Buckle from a "hold (c)" rating to a "hold (c+)" rating in a research note on Tuesday, July 28th. UBS Group reduced their price objective on shares of Buckle from $47.00 to $46.00 and set a "neutral" rating for the company in a research note on Tuesday. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $46.00.

Buckle Trading Down 1.6%

Shares of BKE opened at $44.09 on Friday. The business's fifty day simple moving average is $43.77 and its two-hundred day simple moving average is $48.56. Buckle, Inc. has a 12 month low of $40.73 and a 12 month high of $61.69. The company has a market cap of $2.27 billion, a price-to-earnings ratio of 10.11 and a beta of 1.10.

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

Buckle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 29th. Investors of record on Wednesday, July 15th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 3.2%. The ex-dividend date was Wednesday, July 15th. Buckle's dividend payout ratio (DPR) is presently 32.11%.

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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