Buckle (NYSE:BKE) Trading 3.3% Higher – Here’s What Happened

Shares of The Buckle, Inc. (NYSE:BKE) were up 3.3% during mid-day trading on Friday . The company traded as high as $34.55 and last traded at $35.95. Approximately 166,581 shares traded hands during mid-day trading, a decline of 61% from the average daily volume of 432,647 shares. The stock had previously closed at $34.80.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on BKE shares. StockNews.com downgraded shares of Buckle from a “buy” rating to a “hold” rating in a research note on Tuesday, February 25th. UBS Group decreased their target price on Buckle from $43.00 to $41.00 and set a “neutral” rating on the stock in a report on Tuesday, March 18th.

Buckle Price Performance

The company has a market capitalization of $1.82 billion, a P/E ratio of 9.11 and a beta of 0.91. The company’s 50-day moving average price is $40.89 and its two-hundred day moving average price is $45.17.

Buckle (NYSE:BKE) last issued its quarterly earnings data on Friday, March 14th. The company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.09. Buckle had a net margin of 16.21% and a return on equity of 44.11%. The firm had revenue of $379.20 million during the quarter, compared to the consensus estimate of $378.97 million. During the same period last year, the business posted $1.59 earnings per share. The business’s revenue for the quarter was down .8% compared to the same quarter last year.

Buckle Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 29th. Shareholders of record on Tuesday, April 15th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date is Tuesday, April 15th. Buckle’s dividend payout ratio is 36.08%.

Insider Transactions at Buckle

In other Buckle news, CEO Dennis H. Nelson sold 15,340 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $36.32, for a total transaction of $557,148.80. Following the transaction, the chief executive officer now owns 1,647,695 shares in the company, valued at $59,844,282.40. This represents a 0.92 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last 90 days, insiders sold 92,269 shares of company stock valued at $3,952,882. 39.80% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Buckle

A number of hedge funds and other institutional investors have recently made changes to their positions in BKE. Impala Asset Management LLC increased its stake in Buckle by 43.3% during the 3rd quarter. Impala Asset Management LLC now owns 365,000 shares of the company’s stock worth $16,049,000 after acquiring an additional 110,273 shares during the period. Geode Capital Management LLC increased its position in shares of Buckle by 4.8% in the third quarter. Geode Capital Management LLC now owns 799,078 shares of the company’s stock worth $35,142,000 after purchasing an additional 36,472 shares during the period. JPMorgan Chase & Co. raised its stake in Buckle by 3.4% in the third quarter. JPMorgan Chase & Co. now owns 155,833 shares of the company’s stock valued at $6,852,000 after purchasing an additional 5,185 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in Buckle by 5.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,286,212 shares of the company’s stock worth $65,352,000 after purchasing an additional 69,258 shares during the period. Finally, HighTower Advisors LLC acquired a new stake in Buckle during the third quarter worth about $214,000. 53.93% of the stock is currently owned by institutional investors and hedge funds.

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.