Groesbeck Investment Management Corp NJ Invests $1.54 Million in Buckle Inc (BKE)

Groesbeck Investment Management Corp NJ purchased a new position in Buckle Inc (NYSE:BKE) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 65,000 shares of the company’s stock, valued at approximately $1,544,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. C M Bidwell & Associates Ltd. purchased a new position in shares of Buckle in the fourth quarter worth $105,000. Public Employees Retirement System of Ohio raised its holdings in shares of Buckle by 14.2% in the second quarter. Public Employees Retirement System of Ohio now owns 7,983 shares of the company’s stock worth $142,000 after buying an additional 995 shares during the last quarter. Municipal Employees Retirement System of Michigan raised its holdings in shares of Buckle by 59.8% in the third quarter. Municipal Employees Retirement System of Michigan now owns 10,630 shares of the company’s stock worth $179,000 after buying an additional 3,980 shares during the last quarter. Voya Investment Management LLC raised its holdings in shares of Buckle by 17.8% in the second quarter. Voya Investment Management LLC now owns 13,913 shares of the company’s stock worth $248,000 after buying an additional 2,102 shares during the last quarter. Finally, Teacher Retirement System of Texas purchased a new position in shares of Buckle in the fourth quarter worth $255,000. 59.77% of the stock is owned by institutional investors and hedge funds.

Buckle Inc (BKE) opened at $21.40 on Friday. The stock has a market cap of $1,025.67, a price-to-earnings ratio of 12.14 and a beta of 0.97. Buckle Inc has a fifty-two week low of $13.50 and a fifty-two week high of $25.11.

Buckle (NYSE:BKE) last posted its quarterly earnings results on Friday, November 17th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.01. Buckle had a net margin of 9.17% and a return on equity of 19.13%. The business had revenue of $224.30 million during the quarter, compared to analysts’ expectations of $224.12 million. During the same quarter last year, the company posted $0.49 earnings per share. The business’s quarterly revenue was down 6.2% on a year-over-year basis. analysts predict that Buckle Inc will post 1.74 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, January 26th. Investors of record on Friday, January 12th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, January 11th. This represents a $1.00 annualized dividend and a dividend yield of 4.67%. Buckle’s dividend payout ratio (DPR) is presently 57.80%.

In related news, SVP Brett P. Milkie sold 1,500 shares of the firm’s stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $21.02, for a total transaction of $31,530.00. Following the completion of the transaction, the senior vice president now owns 32,070 shares of the company’s stock, valued at $674,111.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Diane L. Applegate sold 1,200 shares of the firm’s stock in a transaction on Friday, January 19th. The stock was sold at an average price of $20.84, for a total transaction of $25,008.00. Following the transaction, the vice president now directly owns 20,500 shares of the company’s stock, valued at approximately $427,220. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,700 shares of company stock valued at $98,538. 41.70% of the stock is currently owned by corporate insiders.

A number of research firms have issued reports on BKE. ValuEngine raised shares of Buckle from a “buy” rating to a “strong-buy” rating in a report on Friday, December 1st. Zacks Investment Research raised shares of Buckle from a “sell” rating to a “buy” rating and set a $18.00 price target for the company in a report on Wednesday, November 1st.

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About Buckle

The Buckle, Inc is a retailer of casual apparel, footwear and accessories for young men and women. As of January 28, 2017, the Company operated 467 retail stores in 44 states throughout the United States under the names Buckle and The Buckle. The Company markets a selection of brand name casual apparel, including denims, other casual bottoms, tops, sportswear, outerwear, accessories and footwear.

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Institutional Ownership by Quarter for Buckle (NYSE:BKE)

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