The Buckle, Inc.: Pacer Advisors Inc. Strengthens its Position and Expands Investment Portfolio
Date: July 24, 2023
In the dynamic landscape of the retail industry, companies must continuously adapt to changing market trends and consumer preferences to ensure their sustained growth and success. The Buckle, Inc., a prominent retailer of casual apparel, footwear, and accessories for young men and women in the United States, has garnered attention with its recent achievements and increased investment interest.
Position Growth and Market Presence:
Pacer Advisors Inc., a well-respected investment advisory firm, displayed its confidence in The Buckle, Inc.’s potential by expanding its position in the company’s shares during the first quarter. According to their most recent Form 13F filing with the Securities and Exchange Commission (SEC), Pacer Advisors Inc. increased its ownership by an impressive 48.5%. This addition amounted to an acquisition of 149,126 additional shares, bringing their total holdings to a substantial 456,488 shares.
Market Value:
The significant uptick in Pacer Advisors Inc.’s stake in The Buckle is a testament to their belief in the company’s long-term prospects. As of their most recent SEC filing, the fund estimated The Buckle’s overall worth at $16,292,000—an impressive contribution representing about 0.90% of the retailer’s value.
Operational Overview:
The Buckle prides itself on catering to the evolving fashion needs of young adults across America. Their product offering includes an array of brand name casual apparel such as denims, tops, sportswear, outerwear, accessories,and footwear. Additionally,the company manufactures private label merchandise under various brand names including BKE,Buckle Black,Salvage,and more.
Stock Performance:
On July 24th, 2023—our reference date—The Buckle’s stock opened at $34.99 on the New York Stock Exchange (NYSE). The company’s performance has been subject to fluctuations, as evident from its 50-day moving average price of $33.67 and 200-day moving average price of $36.88. Over the past twelve months, The Buckle, Inc.’s shares have ranged from a low of $28.40 to a high of $50.35—an indication of its volatility in response to market dynamics.
Market Capitalization and Financial Outlook:
The Buckle, Inc.—with a market capitalization reaching $1.77 billion—has firmly established itself as a prominent player in the fashion retail sector. The company’s financial stability and positive market sentiment are reflected in its price-to-earnings ratio of 7.18.
Conclusion:
As Pacer Advisors Inc.’s increased ownership demonstrates, The Buckle, Inc.’s potential for growth and profitability continues to captivate investors’ attention. With its ability to adapt to shifting trends in the retail industry and an extensive portfolio of fashion-forward apparel offerings for young men and women, The Buckle stands poised for continued success.
While stock prices may vary over time, it is essential to recognize that The Buckle’s commitment to innovation and quality can enable the company to weather market fluctuations and sustain itself in the long run. Investors with an eye toward both short-term gains and long-term stability would be wise not to overlook this impressive retailer as it embarks on its future endeavors.
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Buckle Inc. Attracts Institutional Investors with Growing Confidence in its Potential
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”BKE” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]July 24, 2023 – Buckle Inc., a leading retailer of casual apparel, footwear, and accessories for young men and women in the United States, has been attracting attention from institutional investors. &Other institutional investors have recently made adjustments to their holdings of the company, indicating a growing interest in Buckle’s potential.
JPMorgan Chase & Co., for instance, has increased its position in Buckle by an impressive 31.0% during the first quarter. This translates to the acquisition of an additional 21,310 shares. As a result, JPMorgan Chase & Co. now owns 89,952 shares of the company’s stock worth a staggering $2,973,000. These actions by JPMorgan are indicative of their confidence in Buckle’s growth prospects.
Raymond James & Associates also showcased their bullish stance on Buckle’s potential when they boosted their stake in the company by 51.9% during the same period. The increase amounts to owning an additional 7,600 shares of Buckle’s stock valued at $735,000.
Bank of New York Mellon Corp joined the ranks of investors increasing their position in Buckle as well. With an increase of 2.9% during the first quarter, Bank of New York Mellon Corp now owns a significant 628,276 shares valued at $20,758,000.
Citigroup Inc., showing optimism towards Buckle’s performance, raised its stake in the company by 1.4% during the first quarter. The bank now owns approximately 29,258 shares of Buckle’s stock worth around $966,000.
Similarly, Bank of Montreal Can displayed its confidence in Buckle through increasing its holdings by 7.3%. They acquired an additional 740 shares during the first quarter and now own a total of 10,859 shares valued at $381,000.
When examining ownership percentages across Buckle’s stock, it becomes apparent that hedge funds and other institutional investors currently hold 54.50% of the company’s shares. This significant ownership by institutional investors reflects the potential they see in Buckle’s future.
Several equities research analysts have also weighed in on Buckle recently. In a research report on Monday, May 29th, StockNews.com downgraded Buckle from a “buy” rating to a “hold” rating. Furthermore, UBS Group assumed coverage on shares of Buckle and issued a “neutral” rating for the company with a price target of $37.00.
Buckle (NYSE:BKE) last reported its quarterly earnings data on Friday, May 26th. The company recorded earnings per share of $0.86 for the quarter, falling short of analysts’ consensus estimates of $0.92 by ($0.06). Despite this slight miss, Buckle’s net margin stands at an impressive 18.37%, showcasing its profitability and robust financial performance. Additionally, the return on equity for the company is an impressive 60.35%.
The firm reported revenue figures amounting to $282.40 million for the quarter, which was slightly below the consensus estimate of $297.30 million. However, it should be noted that this figure represents an 8.6% decrease compared to the same quarter in the prior year.
In an effort to reward its shareholders and demonstrate confidence in its future prospects, Buckle recently declared a quarterly dividend to be paid on Friday, July 28th. Stockholders who were recorded as owning shares as of Friday, July 14th will receive a $0.35 dividend per share owned. This represents an annualized dividend payout ratio of 28.75% and a dividend yield of 4% based on current market prices.
In conclusion, despite experiencing some setbacks during the first quarter and receiving mixed ratings from research analysts, Buckle Inc. has not failed to capture the interest of institutional investors. With their increased positions and growing ownership percentages, these investors believe in the company’s long-term potential. Although caution should always accompany investing decisions, Buckle shows promise as it continues to adapt to market trends and pursue growth opportunities in the retail sector.
