Summit Global Investments Acquires New Shares in Buckle, Inc. (The) $BKE

Summit Global Investments acquired a new stake in shares of Buckle, Inc. (The) (NYSE:BKE) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 17,539 shares of the company’s stock, valued at approximately $1,029,000.

A number of other hedge funds have also bought and sold shares of the business. Squarepoint Ops LLC boosted its holdings in Buckle by 322.4% in the second quarter. Squarepoint Ops LLC now owns 166,626 shares of the company’s stock worth $7,556,000 after purchasing an additional 127,177 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of Buckle by 119.3% during the 2nd quarter. AQR Capital Management LLC now owns 207,057 shares of the company’s stock valued at $9,390,000 after buying an additional 112,649 shares during the period. TrueMark Investments LLC purchased a new position in shares of Buckle in the 3rd quarter worth $6,604,000. Bank of America Corp DE grew its holdings in shares of Buckle by 74.9% in the second quarter. Bank of America Corp DE now owns 245,140 shares of the company’s stock worth $11,117,000 after acquiring an additional 105,017 shares during the period. Finally, Jump Financial LLC purchased a new stake in Buckle during the second quarter valued at $4,116,000. Hedge funds and other institutional investors own 53.93% of the company’s stock.

Buckle Price Performance

Shares of BKE opened at $47.29 on Friday. The stock has a market capitalization of $2.42 billion, a price-to-earnings ratio of 11.59 and a beta of 1.12. Buckle, Inc. has a 1 year low of $33.12 and a 1 year high of $61.69. The business’s 50 day simple moving average is $54.54 and its 200-day simple moving average is $55.09.

Buckle (NYSE:BKE) last announced its quarterly earnings results on Friday, November 21st. The company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.02. The firm had revenue of $320.84 million during the quarter, compared to the consensus estimate of $317.97 million. Buckle had a net margin of 16.13% and a return on equity of 44.42%. The firm’s revenue for the quarter was up 9.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.88 EPS.

Buckle Announces Dividend

The company also recently disclosed a special dividend, which was paid on Thursday, January 29th. Investors of record on Thursday, January 15th were given a $3.00 dividend. The ex-dividend date of this dividend was Thursday, January 15th. Buckle’s dividend payout ratio is 34.31%.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. UBS Group reiterated a “neutral” rating on shares of Buckle in a research note on Friday, January 9th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Buckle in a research report on Wednesday, January 21st. Finally, Wall Street Zen downgraded shares of Buckle from a “buy” rating to a “hold” rating in a research report on Sunday, January 11th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $55.00.

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.