Buckle (NYSE:BKE) Reaches New 52-Week Low – Here’s Why

Buckle, Inc. (The) (NYSE:BKE) shares hit a new 52-week low on Wednesday . The company traded as low as $40.93 and last traded at $42.2320, with a volume of 565634 shares. The stock had previously closed at $41.53.

Analyst Ratings Changes

BKE has been the topic of several recent research reports. Wall Street Zen lowered shares of Buckle from a “buy” rating to a “hold” rating in a report on Saturday, April 4th. UBS Group lowered their price target on shares of Buckle from $52.00 to $47.00 and set a “neutral” rating for the company in a research note on Monday, June 1st. Finally, Weiss Ratings lowered shares of Buckle from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, June 25th. Two analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $47.00.

Buckle Stock Up 0.4%

The company has a 50-day simple moving average of $47.81 and a two-hundred day simple moving average of $50.89. The stock has a market cap of $2.17 billion, a P/E ratio of 9.67 and a beta of 1.08.

Buckle (NYSE:BKE) last issued its earnings results on Friday, May 29th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.18. Buckle had a net margin of 16.85% and a return on equity of 47.35%. The firm had revenue of $288.74 million for the quarter, compared to analysts’ expectations of $287.68 million. During the same quarter last year, the business earned $0.70 earnings per share. The business’s revenue was up 6.1% on a year-over-year basis.

Buckle Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Wednesday, July 15th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $1.40 annualized dividend and a yield of 3.3%. Buckle’s dividend payout ratio is presently 32.11%.

Insiders Place Their Bets

In other news, SVP Michelle Hoffman sold 16,200 shares of the company’s stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $54.80, for a total transaction of $887,760.00. Following the completion of the transaction, the senior vice president directly owned 29,682 shares of the company’s stock, valued at approximately $1,626,573.60. This represents a 35.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Bill L. Fairfield sold 2,500 shares of the stock in a transaction dated Monday, June 8th. The stock was sold at an average price of $44.44, for a total transaction of $111,100.00. Following the sale, the director owned 52,908 shares of the company’s stock, valued at approximately $2,351,231.52. This represents a 4.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 48,700 shares of company stock valued at $2,635,960 in the last quarter. Insiders own 39.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Geneos Wealth Management Inc. grew its position in shares of Buckle by 1,928.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 649 shares of the company’s stock worth $25,000 after buying an additional 617 shares during the last quarter. Miller Capital Partners Inc. bought a new position in shares of Buckle during the fourth quarter valued at approximately $37,000. Hantz Financial Services Inc. raised its holdings in shares of Buckle by 51.6% during the fourth quarter. Hantz Financial Services Inc. now owns 702 shares of the company’s stock valued at $38,000 after acquiring an additional 239 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Buckle by 162.2% in the second quarter. EverSource Wealth Advisors LLC now owns 957 shares of the company’s stock worth $43,000 after acquiring an additional 592 shares during the period. Finally, Quarry LP purchased a new stake in Buckle in the third quarter worth $65,000. Institutional investors 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.