Maverick Capital Ltd. Sells 46,767 Shares of Buckle, Inc. (The) $BKE

Maverick Capital Ltd. lowered its position in shares of Buckle, Inc. (The) (NYSE:BKE) by 76.6% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,316 shares of the company’s stock after selling 46,767 shares during the quarter. Maverick Capital Ltd.’s holdings in Buckle were worth $721,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Amundi raised its holdings in Buckle by 676.9% during the fourth quarter. Amundi now owns 421,200 shares of the company’s stock valued at $22,501,000 after acquiring an additional 366,986 shares during the period. Goldman Sachs Group Inc. lifted its position in shares of Buckle by 44.9% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,043,548 shares of the company’s stock valued at $55,746,000 after acquiring an additional 323,361 shares in the last quarter. Lazard Asset Management LLC boosted 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 period. Morgan Stanley boosted 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 period. Finally, Two Sigma Investments LP grew its position 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 worth $14,226,000 after purchasing an additional 236,120 shares in the last quarter. 53.93% of the stock is owned by hedge funds and other institutional investors.

Buckle Trading Up 4.4%

Shares of BKE stock opened at $45.52 on Wednesday. The stock has a market capitalization of $2.35 billion, a price-to-earnings ratio of 10.44 and a beta of 1.08. Buckle, Inc. has a 12-month low of $40.73 and a 12-month high of $61.69. The stock’s 50-day moving average price is $44.24 and its 200-day moving average price is $49.33.

Buckle (NYSE:BKE) last released its quarterly earnings results on Friday, May 29th. The company reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.18. The business had revenue of $288.74 million during the quarter, compared to analysts’ expectations of $287.68 million. Buckle had a return on equity of 47.35% and a net margin of 16.85%.The firm’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.70 EPS.

Buckle Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, July 29th. Investors of record on Wednesday, July 15th will be paid a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $1.40 dividend on an annualized basis and a yield of 3.1%. Buckle’s dividend payout ratio is presently 32.11%.

Insider Buying and Selling

In other Buckle news, Director Bill L. Fairfield sold 2,500 shares of Buckle stock in a transaction on Monday, June 8th. The shares were sold at an average price of $44.44, for a total value of $111,100.00. Following the completion of the transaction, the director directly owned 52,908 shares of the company’s stock, valued at $2,351,231.52. This trade represents a 4.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 38.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

BKE has been the subject of several recent analyst reports. UBS Group dropped their price target on Buckle from $52.00 to $47.00 and set a “neutral” rating for the company in a research note on Monday, June 1st. Weiss Ratings cut shares of Buckle from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 25th. Finally, Wall Street Zen lowered shares of Buckle from a “buy” rating to a “hold” rating in a research report on Saturday, April 4th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $47.00.

Buckle 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.