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

Buckle, Inc. (The) (NYSE:BKE)’s share price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $42.65 and last traded at $42.7980, with a volume of 232461 shares. The stock had previously closed at $44.57.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BKE. UBS Group dropped their target price on Buckle from $52.00 to $47.00 and set a “neutral” rating on the stock in a report on Monday, June 1st. Weiss Ratings cut shares of Buckle from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, May 29th. Finally, Wall Street Zen cut shares of Buckle from a “buy” rating to a “hold” rating in a report on Saturday, April 4th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Buckle presently has an average rating of “Hold” and a consensus target price of $47.00.

Buckle Stock Performance

The company has a market cap of $2.22 billion, a price-to-earnings ratio of 9.85 and a beta of 1.09. The company’s 50 day moving average price is $49.25 and its 200 day moving average price is $51.50.

Buckle (NYSE:BKE) last released 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. The business had revenue of $288.74 million during the quarter, compared to analyst estimates of $287.68 million. Buckle had a net margin of 16.85% and a return on equity of 47.35%. Buckle’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.70 EPS.

Buckle Announces Dividend

The business 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 of this dividend is Wednesday, July 15th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.3%. Buckle’s payout ratio is currently 32.11%.

Insiders Place Their Bets

In related news, EVP Kari G. Smith sold 30,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president directly owned 83,814 shares of the company’s stock, valued at approximately $4,573,729.98. This trade represents a 26.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Bill L. Fairfield sold 2,500 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director owned 52,908 shares of the company’s stock, valued at approximately $2,351,231.52. This trade represents a 4.51% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 48,700 shares of company stock valued at $2,635,960 over the last quarter. Insiders own 39.00% of the company’s stock.

Institutional Trading of Buckle

A number of institutional investors and hedge funds have recently modified their holdings of the company. Geneos Wealth Management Inc. grew its position in shares of Buckle by 1,928.1% in the first quarter. Geneos Wealth Management Inc. now owns 649 shares of the company’s stock valued at $25,000 after purchasing an additional 617 shares during the last quarter. Miller Capital Partners Inc. bought a new stake in Buckle during the 4th quarter valued at approximately $37,000. Hantz Financial Services Inc. grew its holdings in Buckle by 51.6% in the 4th quarter. Hantz Financial Services Inc. now owns 702 shares of the company’s stock valued at $38,000 after buying an additional 239 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in Buckle by 162.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 957 shares of the company’s stock valued at $43,000 after buying an additional 592 shares during the last quarter. Finally, Quarry LP bought a new position in Buckle in the 3rd quarter worth approximately $65,000. 53.93% of the stock is currently owned by institutional investors and hedge funds.

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.