The Buckle, Inc. (NYSE:BKE) Announces $0.35 Quarterly Dividend

The Buckle, Inc. (NYSE:BKE) declared a quarterly dividend on Tuesday, March 26th, Wall Street Journal reports. Shareholders of record on Friday, April 12th will be paid a dividend of 0.35 per share on Friday, April 26th. This represents a $1.40 annualized dividend and a yield of 3.55%. The ex-dividend date of this dividend is Thursday, April 11th.

Buckle has raised its dividend payment by an average of 15.9% annually over the last three years. Buckle has a payout ratio of 34.1% indicating that its dividend is sufficiently covered by earnings.

Buckle Stock Performance

Shares of BKE stock opened at $39.49 on Thursday. The firm has a market cap of $1.99 billion, a P/E ratio of 8.95 and a beta of 1.23. The firm’s 50 day moving average price is $38.60 and its 200-day moving average price is $38.11. Buckle has a one year low of $30.18 and a one year high of $48.15.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Covestor Ltd increased its position in Buckle by 2,840.6% during the first quarter. Covestor Ltd now owns 941 shares of the company’s stock worth $31,000 after buying an additional 909 shares during the period. Captrust Financial Advisors boosted its holdings in Buckle by 58.3% during the first quarter. Captrust Financial Advisors now owns 1,556 shares of the company’s stock worth $51,000 after buying an additional 573 shares in the last quarter. Quarry LP grew its holdings in shares of Buckle by 733.1% in the 1st quarter. Quarry LP now owns 1,483 shares of the company’s stock worth $53,000 after acquiring an additional 1,305 shares during the period. Point72 Hong Kong Ltd acquired a new position in shares of Buckle during the 2nd quarter worth $60,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of Buckle by 42.8% in the second quarter. PNC Financial Services Group Inc. now owns 2,244 shares of the company’s stock valued at $78,000 after purchasing an additional 673 shares in the last quarter. 53.93% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on BKE. StockNews.com cut Buckle from a “buy” rating to a “hold” rating in a research note on Wednesday, March 20th. UBS Group lowered shares of Buckle from a “neutral” rating to a “sell” rating and cut their target price for the stock from $37.00 to $34.00 in a research note on Friday, January 5th.

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, Reclaim, BKE Vintage, Nova Industries, J.B.