Buckle (BKE) Shares Up 6.7%

Buckle Inc (NYSE:BKE) shares shot up 6.7% on Thursday . The stock traded as high as $22.60 and last traded at $22.30. 1,078,600 shares traded hands during mid-day trading, an increase of 19% from the average session volume of 907,257 shares. The stock had previously closed at $20.90.

Several research firms have weighed in on BKE. ValuEngine raised shares of Buckle from a “buy” rating to a “strong-buy” rating in a report on Sunday, December 31st. Zacks Investment Research raised shares of Buckle from a “sell” rating to a “buy” rating and set a $18.00 price target on the stock in a report on Wednesday, November 1st.

The stock has a market cap of $1,090.00, a price-to-earnings ratio of 12.43 and a beta of 1.09.

Buckle (NYSE:BKE) last released its quarterly earnings results on Friday, November 17th. The company reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.01. The firm had revenue of $224.30 million for the quarter, compared to analysts’ expectations of $224.12 million. Buckle had a net margin of 9.17% and a return on equity of 19.13%. The business’s revenue was down 6.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.49 EPS. analysts predict that Buckle Inc will post 1.74 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 26th. Stockholders of record on Friday, January 12th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, January 11th. This represents a $1.00 annualized dividend and a dividend yield of 4.65%. Buckle’s dividend payout ratio is presently 57.80%.

In other news, Director Robert Erle Campbell sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $21.00, for a total transaction of $42,000.00. Following the transaction, the director now directly owns 31,964 shares of the company’s stock, valued at $671,244. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Kyle Hanson sold 4,100 shares of the firm’s stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $15.95, for a total transaction of $65,395.00. Following the transaction, the vice president now directly owns 24,900 shares in the company, valued at $397,155. The disclosure for this sale can be found here. Insiders have sold 7,600 shares of company stock worth $138,925 over the last ninety days. Insiders own 41.70% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. GSA Capital Partners LLP bought a new position in Buckle in the third quarter valued at approximately $265,000. California Public Employees Retirement System increased its stake in Buckle by 20.8% in the third quarter. California Public Employees Retirement System now owns 160,298 shares of the company’s stock valued at $2,701,000 after acquiring an additional 27,598 shares during the last quarter. Engineers Gate Manager LP bought a new position in Buckle in the third quarter valued at approximately $1,007,000. Schwab Charles Investment Management Inc. increased its stake in Buckle by 39.6% in the third quarter. Schwab Charles Investment Management Inc. now owns 463,644 shares of the company’s stock valued at $7,813,000 after acquiring an additional 131,594 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in Buckle by 3.5% in the third quarter. Wells Fargo & Company MN now owns 958,812 shares of the company’s stock valued at $16,155,000 after acquiring an additional 32,030 shares during the last quarter. 59.65% of the stock is currently owned by institutional investors.

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Buckle Company Profile

The Buckle, Inc is a retailer of casual apparel, footwear and accessories for young men and women. As of January 28, 2017, the Company operated 467 retail stores in 44 states throughout the United States under the names Buckle and The Buckle. The Company markets a selection of brand name casual apparel, including denims, other casual bottoms, tops, sportswear, outerwear, accessories and footwear.

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