Miller Value Partners Fully Exits Buckle Stake
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 1 hour ago
0mins
Should l Buy BKE?
Source: Fool
- Stake Change: Miller Value Partners sold all 72,000 shares of Buckle in Q4 2025, totaling approximately $4.22 million, indicating a cautious stance on the retailer's future growth potential.
- Financial Performance: As of February 13, 2026, Buckle's stock was priced at $53.45, with a one-year return of about 36.8%, outperforming the S&P 500, yet overall growth remains sluggish, raising concerns about its future profitability.
- Investment Strategy: The exit by Miller suggests that despite Buckle's P/E ratio of 13 not indicating overvaluation, its low single-digit net income growth and a projected 0.15% growth in fiscal 2027 may prompt investors to seek higher-return alternatives.
- Market Positioning: Buckle targets young consumers with casual apparel and accessories, operating over 400 retail locations and a robust e-commerce platform, but faces challenges of slowing growth that could impact its future investment appeal.
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Analyst Views on BKE
Wall Street analysts forecast BKE stock price to rise
1 Analyst Rating
0 Buy
1 Hold
0 Sell
Hold
Current: 50.480
Low
55.00
Averages
55.00
High
55.00
Current: 50.480
Low
55.00
Averages
55.00
High
55.00
About BKE
The Buckle, Inc. is a retailer of casual apparel, footwear, and accessories. The Company operates approximately 441 retail stores in 42 states. The Company markets a wide selection of casual apparel including denim, other casual bottoms, tops, sportswear, outerwear, accessories, and footwear. It also provides customer services, such as free hemming, free gift-packaging, easy layaways, the Buckle private label credit card, and a guest loyalty program. The Company offers denims from brands such as Flying Monkey, Hidden, KanCan, Levi’s, Miss Me, Rock Revival, Wrangler, and 7 For All Mankind. Its other key brands include Affliction, American Fighter, Ariat, Billabong, Birkenstock, Free People, Goorin Bros., Hey Dude, Hooey, Howitzer, Hurley, K. Swiss, Kimes Ranch, Lost Calf, Mia, Oakley, Old Row, Pendleton, Ray-Ban, Reebok, Ridge, RVCA, SOREL, Steve Madden, Sullen, Very G, White Crow, and Z Supply.
About the author

Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
- Earnings Announcement: Buckle (BKE) is set to release its Q4 earnings on March 13 before market open, with a consensus EPS estimate of $1.51, reflecting a 1.3% year-over-year decline, indicating potential challenges in a competitive retail environment.
- Revenue Expectations: The revenue estimate stands at $396.45 million, representing a 4.6% year-over-year increase, which may be attributed to the company's positioning in the recovering consumer spending landscape, despite overall economic uncertainties.
- Historical Performance Review: Over the past two years, Buckle has beaten EPS estimates 63% of the time and revenue estimates 50% of the time, demonstrating a degree of financial stability, although recent estimate revisions indicate downward pressure.
- Sales Growth Trend: Buckle's same-store sales rose by 8% in February, providing a positive backdrop for the upcoming earnings report and suggesting potential advantages in consumer demand recovery.
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- Stake Change: Miller Value Partners sold all 72,000 shares of Buckle in Q4 2025, totaling approximately $4.22 million, indicating a cautious stance on the retailer's future growth potential.
- Financial Performance: As of February 13, 2026, Buckle's stock was priced at $53.45, with a one-year return of about 36.8%, outperforming the S&P 500, yet overall growth remains sluggish, raising concerns about its future profitability.
- Investment Strategy: The exit by Miller suggests that despite Buckle's P/E ratio of 13 not indicating overvaluation, its low single-digit net income growth and a projected 0.15% growth in fiscal 2027 may prompt investors to seek higher-return alternatives.
- Market Positioning: Buckle targets young consumers with casual apparel and accessories, operating over 400 retail locations and a robust e-commerce platform, but faces challenges of slowing growth that could impact its future investment appeal.
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- Complete Position Exit: Miller Value Partners fully exited its position in Buckle during Q4 2025 by selling 72,000 shares for an estimated total of $4.22 million, resulting in a 1.49% decrease in the fund's reportable assets under management.
- Impact on Asset Management: This transaction reduced Buckle's representation in the fund's assets from 1.55% to zero, indicating a potential loss of confidence in the retailer and possibly affecting future investment strategies.
- Market Performance Analysis: Despite Buckle's stock rising 37% since its 1992 IPO, this pales in comparison to a 132% total return over the same period, highlighting challenges the company faces in the competitive apparel retail market.
- Future Investment Recommendations: Analysts advise caution for investors considering Buckle, as the company is projected to see only a 0.15% net income growth in fiscal 2027 and has not made it onto Motley Fool's list of top stocks, suggesting potentially better investment opportunities elsewhere.
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- Earnings Preview: VEON Ltd. (VEON) is set to release its earnings before Friday's open, with market participants keen on its performance and growth potential in the competitive telecom sector.
- LNG Partners Report: Dynagas LNG Partners LP (DLNG) will also announce its earnings on the same day, with investors looking for insights into its operational data and profitability in the liquefied natural gas market.
- Retail Sector Insights: The Buckle (BKE) will reveal its earnings, shedding light on sales trends in the retail industry, particularly regarding consumer spending in the current economic climate.
- Tech Company Earnings: RLX Technology (RLX) is expected to report its earnings, with the market closely monitoring its performance and outlook in the rapidly evolving technology sector.
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- Sales Growth: Buckle, Inc. reported sales of $84.4 million for the four-week period ending February 28, marking an 8.7% increase from $77.6 million in the same period last year, indicating strong performance in the retail market.
- Comparable Store Sales Increase: The company recorded an 8% growth in comparable store sales, reflecting sustained consumer demand for its products and enhancing the brand's competitive position in the market.
- Earnings Report Announcement: Buckle is set to release its fourth-quarter earnings report on March 13, with the market anticipating that its financial performance will further validate the sustainability of its sales growth.
- Optimistic Market Outlook: With ongoing sales growth, Buckle is expected to demonstrate stronger profitability in future earnings reports, further solidifying its position in the retail industry.
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- Comparable Sales Growth: For the 4-week period ending February 28, 2026, Buckle reported an 8.0% increase in comparable store sales, indicating strong consumer preference and robust market demand for the brand.
- Total Sales Increase: The company's total net sales rose by 8.8% to $84.4 million during the same period, up from $77.6 million in 2025, reflecting the effectiveness of its overall sales strategy and enhanced market competitiveness.
- Earnings Announcement Preview: Buckle is set to announce its fourth-quarter and full-year fiscal 2025 earnings on March 13, 2026, with investors closely monitoring its financial performance to assess future growth potential.
- Industry Attractiveness: Buckle is recognized as one of the few attractive firms in the consumer discretionary sector, highlighting its competitive advantage among mid-cap stocks and increasing investor confidence.
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