Buckle (NYSE:BKE) Hits New 12-Month Low – Here’s What Happened

Shares of Buckle, Inc. (The) (NYSE:BKE) reached a new 52-week low during trading on Thursday . The company traded as low as $42.65 and last traded at $42.7980, with a volume of 232461 shares traded. The stock had previously closed at $44.57.

Wall Street Analyst Weigh In

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

Buckle Stock Up 1.1%

The stock has a market capitalization of $2.22 billion, a P/E ratio of 9.88 and a beta of 1.09. The firm’s 50-day simple moving average is $48.84 and its 200 day simple moving average is $51.35.

Buckle (NYSE:BKE) last posted its quarterly earnings data on Friday, May 29th. The company reported $0.92 earnings per share for the quarter, beating 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 company had revenue of $288.74 million during the quarter, compared to analyst estimates of $287.68 million. During the same quarter last year, the firm posted $0.70 EPS. The business’s revenue for the quarter was up 6.1% on a year-over-year basis.

Buckle Dividend Announcement

The firm 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 $0.35 dividend. The ex-dividend date is Wednesday, July 15th. This represents a $1.40 annualized dividend and a yield of 3.2%. Buckle’s payout ratio is 32.11%.

Insider Buying and Selling at Buckle

In related news, Director Bill L. Fairfield sold 2,500 shares of Buckle stock in a transaction on Monday, June 8th. The stock was sold at an average price of $44.44, for a total value of $111,100.00. Following the transaction, the director directly owned 52,908 shares in the company, valued at $2,351,231.52. The trade was a 4.51% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kari G. Smith sold 30,000 shares of the business’s stock in a transaction on Friday, April 10th. The stock was sold at an average price of $54.57, for a total value of $1,637,100.00. Following the sale, the executive vice president directly owned 83,814 shares in the company, valued at $4,573,729.98. This trade represents a 26.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 48,700 shares of company stock valued at $2,635,960. Corporate insiders own 39.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BKE. Vanguard Group Inc. boosted its position in shares of Buckle by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 3,970,767 shares of the company’s stock worth $212,118,000 after buying an additional 89,441 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in Buckle by 0.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,370,398 shares of the company’s stock worth $73,207,000 after purchasing an additional 5,784 shares in the last quarter. Dimensional Fund Advisors LP increased its position in Buckle by 2.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,342,045 shares of the company’s stock worth $67,582,000 after buying an additional 30,128 shares during the last quarter. State Street Corp increased its holdings in shares of Buckle by 4.3% during the 4th quarter. State Street Corp now owns 1,321,675 shares of the company’s stock valued at $70,604,000 after acquiring an additional 54,826 shares during the last quarter. Finally, Morgan Stanley raised its stake in shares of Buckle by 26.8% in the 4th quarter. Morgan Stanley now owns 1,244,389 shares of the company’s stock valued at $66,475,000 after acquiring an additional 263,338 shares in the last quarter. 53.93% of the stock is currently owned by institutional investors and hedge funds.

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.