The Buckle, Inc. (NYSE:BKE) Sees Large Drop in Short Interest

The Buckle, Inc. (NYSE:BKE) was the recipient of a significant drop in short interest in April. As of April 30th, there was short interest totalling 3,240,000 shares, a drop of 6.1% from the April 15th total of 3,450,000 shares. Based on an average daily volume of 365,900 shares, the days-to-cover ratio is presently 8.9 days. Currently, 10.7% of the shares of the stock are sold short.

Buckle Price Performance

Shares of NYSE:BKE traded down $0.19 during trading on Friday, hitting $36.98. The company had a trading volume of 216,954 shares, compared to its average volume of 294,132. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of 8.38 and a beta of 1.24. The company has a fifty day simple moving average of $38.07 and a two-hundred day simple moving average of $39.26. Buckle has a one year low of $30.18 and a one year high of $48.15.

Buckle (NYSE:BKE) last issued its quarterly earnings results on Friday, March 15th. The company reported $1.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.15. Buckle had a return on equity of 50.88% and a net margin of 17.44%. The company had revenue of $382.40 million during the quarter, compared to the consensus estimate of $383.63 million. During the same period last year, the company earned $1.76 earnings per share. Buckle’s revenue was down 4.8% on a year-over-year basis.

Buckle Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 12th were issued a dividend of $0.35 per share. The ex-dividend date of this dividend was Thursday, April 11th. This represents a $1.40 annualized dividend and a yield of 3.79%. Buckle’s payout ratio is 31.75%.

Institutional Trading of Buckle

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BKE. Denali Advisors LLC grew its stake in shares of Buckle by 192.6% during the fourth quarter. Denali Advisors LLC now owns 111,250 shares of the company’s stock valued at $5,287,000 after buying an additional 73,232 shares during the last quarter. Asset Management One Co. Ltd. bought a new position in Buckle in the 4th quarter valued at $1,891,000. Pacer Advisors Inc. increased its stake in Buckle by 33.5% in the fourth quarter. Pacer Advisors Inc. now owns 1,148,796 shares of the company’s stock worth $54,591,000 after purchasing an additional 288,056 shares during the period. New York State Common Retirement Fund lifted its position in shares of Buckle by 15.1% during the fourth quarter. New York State Common Retirement Fund now owns 226,544 shares of the company’s stock worth $10,765,000 after purchasing an additional 29,787 shares during the last quarter. Finally, Brandywine Global Investment Management LLC boosted its stake in shares of Buckle by 11.9% during the third quarter. Brandywine Global Investment Management LLC now owns 150,402 shares of the company’s stock valued at $5,022,000 after purchasing an additional 16,016 shares during the period. 53.93% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on BKE. StockNews.com raised shares of Buckle from a “hold” rating to a “buy” rating in a research note on Monday, April 15th. UBS Group decreased their target price on shares of Buckle from $34.00 to $32.00 and set a “sell” rating on the stock in a research report on Wednesday.

Buckle Company Profile

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, Salvage, Red by BKE, Daytrip, Gimmicks, Gilded Intent, FITZ + EDDI, Willow & Root, Outpost Makers, Departwest, Sterling & Stitch, Reclaim, BKE Vintage, Nova Industries, J.B.