Buckle (NYSE:BKE) Sets New 12-Month High – What’s Next?

The Buckle, Inc. (NYSE:BKE)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $49.40 and last traded at $49.38, with a volume of 26278 shares changing hands. The stock had previously closed at $47.61.

Wall Street Analyst Weigh In

BKE has been the topic of a number of research analyst reports. UBS Group upgraded shares of Buckle from a “sell” rating to a “neutral” rating and raised their target price for the company from $31.00 to $46.00 in a research note on Tuesday. StockNews.com upgraded shares of Buckle from a “hold” rating to a “buy” rating in a research note on Friday, November 8th.

Buckle Stock Performance

The company has a market capitalization of $2.48 billion, a price-to-earnings ratio of 11.90 and a beta of 1.14. The firm’s 50-day simple moving average is $43.49 and its 200-day simple moving average is $40.45.

Buckle (NYSE:BKE) last posted its quarterly earnings results on Friday, August 23rd. The company reported $0.78 earnings per share (EPS) for the quarter. The company had revenue of $282.39 million for the quarter. Buckle had a net margin of 16.69% and a return on equity of 46.17%.

Buckle Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 25th. Shareholders of record on Friday, October 11th were given a $0.35 dividend. The ex-dividend date was Friday, October 11th. This represents a $1.40 annualized dividend and a yield of 2.87%. Buckle’s dividend payout ratio is 34.15%.

Insider Transactions at Buckle

In other news, SVP Brett P. Milkie sold 16,000 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $41.35, for a total transaction of $661,600.00. Following the completion of the transaction, the senior vice president now directly owns 80,170 shares of the company’s stock, valued at approximately $3,315,029.50. This trade represents a 16.64 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Dennis H. Nelson sold 20,453 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $42.90, for a total transaction of $877,433.70. Following the transaction, the chief executive officer now directly owns 1,822,546 shares of the company’s stock, valued at $78,187,223.40. The trade was a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 142,931 shares of company stock valued at $6,080,458. Company insiders own 39.80% of the company’s stock.

Hedge Funds Weigh In On Buckle

Several institutional investors have recently added to or reduced their stakes in the company. Maverick Capital Ltd. bought a new position in Buckle during the 3rd quarter valued at about $1,629,000. Glenmede Trust Co. NA bought a new position in Buckle during the 3rd quarter valued at about $207,000. FMR LLC lifted its holdings in Buckle by 187.1% during the 3rd quarter. FMR LLC now owns 3,824 shares of the company’s stock valued at $168,000 after purchasing an additional 2,492 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Buckle by 4.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,216,954 shares of the company’s stock valued at $53,509,000 after purchasing an additional 48,436 shares during the last quarter. Finally, Landscape Capital Management L.L.C. bought a new position in Buckle during the 3rd quarter valued at about $4,753,000. 53.93% of the stock is owned by institutional investors.

About Buckle

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, Sterling & Stitch, Reclaim, BKE Vintage, Nova Industries, J.B.