Buckle Inc (NYSE:BKE) traded down 8.5% during mid-day trading on Thursday . The stock traded as low as $19.63 and last traded at $19.66. 866,245 shares changed hands during trading, an increase of 66% from the average session volume of 520,615 shares. The stock had previously closed at $21.49.
Several equities research analysts have issued reports on the company. Zacks Investment Research upgraded Buckle from a “hold” rating to a “strong-buy” rating and set a $30.00 target price on the stock in a research report on Monday, August 13th. ValuEngine downgraded Buckle from a “buy” rating to a “hold” rating in a research report on Tuesday, October 2nd.
The stock has a market capitalization of $1.13 billion, a PE ratio of 10.71 and a beta of 0.64.
Buckle (NYSE:BKE) last issued its quarterly earnings data on Friday, August 24th. The company reported $0.32 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.31 by $0.01. Buckle had a return on equity of 23.39% and a net margin of 10.53%. The company had revenue of $201.10 million for the quarter, compared to the consensus estimate of $201.82 million. During the same quarter last year, the business posted $0.24 earnings per share. The firm’s revenue was up 2.8% compared to the same quarter last year. Sell-side analysts expect that Buckle Inc will post 1.89 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 26th. Investors of record on Friday, October 12th will be given a $0.25 dividend. The ex-dividend date is Thursday, October 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.05%. Buckle’s dividend payout ratio (DPR) is presently 54.05%.
In related news, Director Michael E. Huss sold 1,688 shares of the stock in a transaction on Friday, September 7th. The stock was sold at an average price of $22.63, for a total value of $38,199.44. Following the sale, the director now owns 17,062 shares in the company, valued at $386,113.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Diane L. Applegate sold 4,000 shares of the stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $22.50, for a total value of $90,000.00. Following the completion of the sale, the vice president now owns 27,500 shares in the company, valued at approximately $618,750. The disclosure for this sale can be found here. Company insiders own 41.80% of the company’s stock.
Hedge funds have recently modified their holdings of the stock. Millennium Management LLC purchased a new stake in Buckle during the first quarter valued at about $5,253,000. BlackRock Inc. raised its position in Buckle by 6.3% during the second quarter. BlackRock Inc. now owns 3,867,943 shares of the company’s stock valued at $104,048,000 after purchasing an additional 227,906 shares in the last quarter. Robeco Institutional Asset Management B.V. raised its position in Buckle by 29.2% during the second quarter. Robeco Institutional Asset Management B.V. now owns 957,540 shares of the company’s stock valued at $25,758,000 after purchasing an additional 216,138 shares in the last quarter. Cortina Asset Management LLC purchased a new stake in Buckle during the second quarter valued at about $4,555,000. Finally, TD Asset Management Inc. purchased a new stake in Buckle during the second quarter valued at about $4,487,000. Institutional investors own 69.96% of the company’s stock.
Buckle Company Profile (NYSE:BKE)
The Buckle, Inc operates as a retailer of casual apparel, footwear, and accessories for young men and women in the United States. It markets a selection of brand name casual apparel, including denims, other casual bottoms, tops, sportswear, outerwear, accessories, and footwear, as well as private label merchandise primarily comprising BKE, Buckle Black, BKE Boutique, Red by BKE, Daytrip denim, Gimmicks, Gilded Intent, Outpost Makers, Departwest, and Veece.
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