Buckle (NYSE:BKE) Cut to Hold at StockNews.com

StockNews.com lowered shares of Buckle (NYSE:BKE) from a buy rating to a hold rating in a research note published on Friday morning.

Separately, UBS Group raised shares of Buckle from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $31.00 to $46.00 in a report on Tuesday, November 12th.

Buckle Trading Up 1.4 %

Shares of Buckle stock opened at $52.18 on Friday. Buckle has a 12-month low of $34.87 and a 12-month high of $54.25. The firm’s 50 day simple moving average is $46.89 and its two-hundred day simple moving average is $42.47. The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of 13.24 and a beta of 1.14.

Buckle (NYSE:BKE) last posted its quarterly earnings results on Friday, November 22nd. The company reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.01). The business had revenue of $293.60 million for the quarter, compared to analysts’ expectations of $293.60 million. Buckle had a return on equity of 44.11% and a net margin of 16.21%. The business’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.04 earnings per share.

Buckle Cuts Dividend

The business also recently announced a special dividend, which will be paid on Wednesday, January 29th. Stockholders of record on Wednesday, January 15th will be issued a dividend of $2.50 per share. This represents a dividend yield of 2.6%. The ex-dividend date of this dividend is Wednesday, January 15th. Buckle’s dividend payout ratio is currently 35.53%.

Insider Buying and Selling

In related news, EVP Kari G. Smith sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $52.29, for a total transaction of $1,045,800.00. Following the completion of the sale, the executive vice president now directly owns 150,554 shares of the company’s stock, valued at approximately $7,872,468.66. This trade represents a 11.73 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Dennis H. Nelson sold 20,453 shares of the stock in a transaction dated Monday, October 7th. The stock was sold at an average price of $41.73, for a total transaction of $853,503.69. Following the transaction, the chief executive officer now directly owns 1,863,452 shares of the company’s stock, valued at approximately $77,761,851.96. This trade represents a 1.09 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 134,265 shares of company stock worth $6,270,732. 39.80% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Buckle

A number of hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. lifted its stake in Buckle by 52.0% during the third quarter. Blue Trust Inc. now owns 789 shares of the company’s stock worth $35,000 after purchasing an additional 270 shares in the last quarter. Quarry LP boosted its holdings in Buckle by 60.9% during the 3rd quarter. Quarry LP now owns 938 shares of the company’s stock valued at $41,000 after acquiring an additional 355 shares during the period. CWM LLC grew its position in Buckle by 119.9% in the 2nd quarter. CWM LLC now owns 2,010 shares of the company’s stock valued at $74,000 after acquiring an additional 1,096 shares in the last quarter. Quest Partners LLC purchased a new stake in Buckle during the third quarter worth about $86,000. Finally, Signaturefd LLC lifted its position in shares of Buckle by 38.7% during the third quarter. Signaturefd LLC now owns 2,236 shares of the company’s stock worth $98,000 after purchasing an additional 624 shares in the last quarter. Hedge funds and other institutional investors own 53.93% of the company’s stock.

Buckle Company Profile

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.