Buckle (NYSE:BKE) Trading Up 3.3% – Here’s What Happened

Shares of The Buckle, Inc. (NYSE:BKE) were up 3.3% on Friday . The company traded as high as $34.55 and last traded at $35.95. Approximately 166,581 shares changed hands during mid-day trading, a decline of 61% from the average daily volume of 432,647 shares. The stock had previously closed at $34.80.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. StockNews.com lowered Buckle from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. UBS Group lowered their target price on Buckle from $43.00 to $41.00 and set a “neutral” rating for the company in a research note on Tuesday, March 18th.

Buckle Stock Performance

The firm has a market cap of $1.82 billion, a P/E ratio of 9.11 and a beta of 0.91. The company’s 50 day moving average is $40.89 and its 200 day moving average is $45.17.

Buckle (NYSE:BKE) last announced its quarterly earnings results on Friday, March 14th. The company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.09. Buckle had a net margin of 16.21% and a return on equity of 44.11%. The company had revenue of $379.20 million during the quarter, compared to the consensus estimate of $378.97 million. During the same period in the prior year, the business earned $1.59 earnings per share. The company’s revenue for the quarter was down .8% compared to the same quarter last year.

Buckle Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 29th. Stockholders of record on Tuesday, April 15th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.90%. The ex-dividend date of this dividend is Tuesday, April 15th. Buckle’s payout ratio is 36.08%.

Insider Transactions at Buckle

In related news, CEO Dennis H. Nelson sold 20,453 shares of Buckle stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $43.42, for a total transaction of $888,069.26. Following the sale, the chief executive officer now directly owns 1,698,828 shares in the company, valued at $73,763,111.76. This trade represents a 1.19 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Over the last three months, insiders have sold 92,269 shares of company stock worth $3,952,882. Insiders own 39.80% of the company’s stock.

Hedge Funds Weigh In On Buckle

Large investors have recently modified their holdings of the business. Impala Asset Management LLC grew its stake in shares of Buckle by 43.3% in the third quarter. Impala Asset Management LLC now owns 365,000 shares of the company’s stock worth $16,049,000 after purchasing an additional 110,273 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Buckle by 4.8% during the 3rd quarter. Geode Capital Management LLC now owns 799,078 shares of the company’s stock worth $35,142,000 after buying an additional 36,472 shares during the period. JPMorgan Chase & Co. grew its position in shares of Buckle by 3.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 155,833 shares of the company’s stock valued at $6,852,000 after buying an additional 5,185 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Buckle by 5.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,286,212 shares of the company’s stock valued at $65,352,000 after buying an additional 69,258 shares during the period. Finally, HighTower Advisors LLC bought a new position in shares of Buckle during the third quarter worth about $214,000. Institutional investors own 53.93% of the company’s stock.

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.