Buckle (NYSE:BKE) Posts Earnings Results, Beats Estimates By $0.18 EPS

Buckle (NYSE:BKE) posted its earnings results on Friday. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.18, Briefing.com reports. Buckle had a net margin of 16.16% and a return on equity of 45.18%. Buckle’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.70 earnings per share.

Buckle Stock Performance

NYSE:BKE opened at $50.50 on Friday. The company has a market capitalization of $2.60 billion, a PE ratio of 12.20 and a beta of 1.16. The company has a 50 day simple moving average of $51.73 and a two-hundred day simple moving average of $53.07. Buckle has a fifty-two week low of $42.09 and a fifty-two week high of $61.69.

Buckle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 29th. Shareholders of record on Wednesday, April 15th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend was Wednesday, April 15th. Buckle’s dividend payout ratio is currently 33.82%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Wall Street Zen cut Buckle from a “buy” rating to a “hold” rating in a report on Saturday, April 4th. Weiss Ratings raised Buckle from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, March 20th. Finally, UBS Group lowered their target price on Buckle from $53.00 to $52.00 and set a “neutral” rating for the company in a report on Friday, May 22nd. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Buckle has a consensus rating of “Moderate Buy” and an average target price of $52.00.

Insider Buying and Selling

In other Buckle news, EVP Kari G. Smith sold 30,000 shares of the stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $54.57, for a total transaction of $1,637,100.00. Following the completion of the sale, the executive vice president owned 83,814 shares of the company’s stock, valued at approximately $4,573,729.98. This represents a 26.36% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Michelle Hoffman sold 16,200 shares of the stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $54.80, for a total transaction of $887,760.00. Following the sale, the senior vice president directly owned 29,682 shares of the company’s stock, valued at $1,626,573.60. This represents a 35.31% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 126,200 shares of company stock valued at $6,517,932 in the last three months. Insiders own 39.00% of the company’s stock.

Institutional Investors Weigh In On Buckle

Several large investors have recently added to or reduced their stakes in the business. Charles Schwab Investment Management Inc. grew its stake in Buckle by 0.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,370,398 shares of the company’s stock worth $73,207,000 after purchasing an additional 5,784 shares during the period. State Street Corp grew its stake in Buckle by 4.3% during the fourth quarter. State Street Corp now owns 1,321,675 shares of the company’s stock worth $70,604,000 after purchasing an additional 54,826 shares during the period. Dimensional Fund Advisors LP grew its stake in Buckle by 0.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,311,917 shares of the company’s stock worth $70,084,000 after purchasing an additional 8,311 shares during the period. Morgan Stanley grew its stake in Buckle by 26.8% during the fourth quarter. Morgan Stanley now owns 1,244,389 shares of the company’s stock worth $66,475,000 after purchasing an additional 263,338 shares during the period. Finally, Goldman Sachs Group Inc. grew its stake in Buckle by 44.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,043,548 shares of the company’s stock worth $55,746,000 after purchasing an additional 323,361 shares during the period. Institutional investors and hedge funds own 53.93% of the company’s stock.

About Buckle

Buckle, Inc is a retailer specializing in casual apparel, footwear and accessories for young men and women. The company is known for its denim-focused collections, offering both private-label lines and curated brand-name merchandise. Its product assortment includes jeans, tops, outerwear, shoes and a variety of accessories such as belts, jewelry and handbags, all aimed at blending contemporary style with everyday comfort.

Founded in 1948 in Kearney, Nebraska, Buckle began as a single clothing store and has since expanded into a nationwide chain.