Buckle (NYSE:BKE) Cut to “Hold” at Wall Street Zen

by · The Markets Daily

Wall Street Zen downgraded shares of Buckle (NYSE:BKEFree Report) from a buy rating to a hold rating in a report published on Saturday.

A number of other research analysts also recently issued reports on BKE. UBS Group reduced their price objective on shares of Buckle from $55.00 to $53.00 and set a “neutral” rating on the stock in a research report on Monday, March 16th. Weiss Ratings raised shares of Buckle from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, March 20th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, Buckle presently has an average rating of “Moderate Buy” and a consensus target price of $53.00.

Get Our Latest Stock Analysis on Buckle

Buckle Stock Up 1.5%

NYSE:BKE opened at $50.88 on Friday. The company has a fifty day moving average of $51.06 and a 200 day moving average of $54.07. The firm has a market capitalization of $2.62 billion, a P/E ratio of 12.29 and a beta of 1.18. Buckle has a 52 week low of $33.12 and a 52 week high of $61.69.

Buckle (NYSE:BKEGet Free Report) last issued its quarterly earnings data on Friday, March 13th. The company reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.08. The business had revenue of $399.14 million for the quarter, compared to the consensus estimate of $396.45 million. Buckle had a net margin of 16.16% and a return on equity of 45.18%. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.53 EPS.

Buckle Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 29th. Stockholders of record on Wednesday, April 15th will be given a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, April 15th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.8%. Buckle’s dividend payout ratio is currently 33.82%.

Insider Transactions at Buckle

In other news, SVP Michelle Hoffman sold 29,281 shares of the company’s stock in a transaction dated Friday, March 20th. The shares were sold at an average price of $49.12, for a total value of $1,438,282.72. Following the sale, the senior vice president directly owned 45,882 shares of the company’s stock, valued at $2,253,723.84. This represents a 38.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Kari G. Smith sold 48,860 shares of the company’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $50.39, for a total transaction of $2,462,055.40. Following the completion of the sale, the executive vice president directly owned 76,754 shares in the company, valued at $3,867,634.06. This represents a 38.90% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 80,000 shares of company stock worth $3,993,072 over the last ninety days. Insiders own 39.00% of the company’s stock.

Institutional Trading of Buckle

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Buckle by 2.3% in the 4th 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. grew its position in shares of Buckle by 0.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,370,398 shares of the company’s stock worth $73,207,000 after buying an additional 5,784 shares during the period. State Street Corp grew its position in shares of Buckle by 4.3% in the 4th quarter. State Street Corp now owns 1,321,675 shares of the company’s stock worth $70,604,000 after buying an additional 54,826 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Buckle by 0.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,311,917 shares of the company’s stock worth $70,084,000 after buying an additional 8,311 shares during the period. Finally, Morgan Stanley grew its position in shares of Buckle by 26.8% in the 4th quarter. Morgan Stanley now owns 1,244,389 shares of the company’s stock worth $66,475,000 after buying an additional 263,338 shares during the period. 53.93% of the stock is owned by hedge funds and other institutional investors.

About Buckle

(Get Free Report)

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.

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