Buckle (NYSE:BKE) Shares Gap Down – Time to Sell?

Buckle, Inc. (The) (NYSE:BKE)’s share price gapped down prior to trading on Friday . The stock had previously closed at $50.48, but opened at $48.00. Buckle shares last traded at $47.57, with a volume of 89,651 shares changing hands.

Wall Street Analyst Weigh In

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

Buckle Stock Down 5.4%

The stock has a fifty day moving average of $51.73 and a 200-day moving average of $53.07. The stock has a market cap of $2.46 billion, a PE ratio of 11.48 and a beta of 1.16.

Buckle (NYSE:BKE) last announced its quarterly earnings data on Friday, May 29th. The company reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.18. Buckle had a net margin of 16.16% and a return on equity of 45.18%. The firm’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.70 EPS.

Buckle Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 29th. Shareholders of record on Wednesday, April 15th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend was Wednesday, April 15th. Buckle’s payout ratio is currently 33.82%.

Insider Activity

In other Buckle 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 value of $887,760.00. Following the transaction, the senior vice president directly owned 29,682 shares in the company, valued at approximately $1,626,573.60. This represents a 35.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kari G. Smith sold 30,000 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president owned 83,814 shares in the company, valued at approximately $4,573,729.98. This trade represents a 26.36% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 126,200 shares of company stock worth $6,517,932 over the last quarter. Insiders own 39.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Bank of America Corp DE lifted its holdings in shares of Buckle by 13.2% during the 1st quarter. Bank of America Corp DE now owns 234,609 shares of the company’s stock worth $11,815,000 after acquiring an additional 27,352 shares during the period. Edgestream Partners L.P. lifted its holdings in shares of Buckle by 204.8% during the 1st quarter. Edgestream Partners L.P. now owns 63,942 shares of the company’s stock worth $3,220,000 after acquiring an additional 42,963 shares during the period. California State Teachers Retirement System lifted its holdings in shares of Buckle by 38.7% during the 1st quarter. California State Teachers Retirement System now owns 40,898 shares of the company’s stock worth $2,060,000 after acquiring an additional 11,420 shares during the period. Royal Bank of Canada lifted its holdings in shares of Buckle by 15.5% during the 1st quarter. Royal Bank of Canada now owns 8,799 shares of the company’s stock worth $444,000 after acquiring an additional 1,182 shares during the period. Finally, Empowered Funds LLC acquired a new stake in Buckle during the 1st quarter worth approximately $384,000. 53.93% of the stock is currently owned by hedge funds and other institutional investors.

Buckle Company Profile

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.