Buckle (NYSE:BKE) Hits New 1-Year Low – Here’s Why

Buckle, Inc. (The) (NYSE:BKE)’s share price reached a new 52-week low during trading on Wednesday . The company traded as low as $40.93 and last traded at $42.2320, with a volume of 565634 shares. The stock had previously closed at $41.53.

Wall Street Analyst Weigh In

BKE has been the topic of several recent analyst reports. UBS Group reduced their price objective on shares of Buckle from $52.00 to $47.00 and set a “neutral” rating on the stock in a research note on Monday, June 1st. Wall Street Zen downgraded Buckle from a “buy” rating to a “hold” rating in a research report on Saturday, April 4th. Finally, Weiss Ratings lowered shares of Buckle from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 25th. Two research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $47.00.

Buckle Stock Performance

The company has a market cap of $2.18 billion, a PE ratio of 9.69 and a beta of 1.09. The company’s 50 day moving average price is $48.36 and its 200-day moving average price is $51.10.

Buckle (NYSE:BKE) last posted its earnings results on Friday, May 29th. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.18. The firm had revenue of $288.74 million for the quarter, compared to the consensus estimate of $287.68 million. Buckle had a return on equity of 47.35% and a net margin of 16.85%.The business’s quarterly revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.70 earnings per share.

Buckle Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 29th. Stockholders of record on Wednesday, July 15th will be paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend is Wednesday, July 15th. Buckle’s dividend payout ratio is 32.11%.

Insider Transactions at Buckle

In other news, EVP Kari G. Smith sold 30,000 shares of the stock in a transaction 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 sale, the executive vice president directly owned 83,814 shares of the company’s stock, valued at approximately $4,573,729.98. This represents a 26.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Bill L. Fairfield sold 2,500 shares of the company’s stock in a transaction that occurred on Monday, June 8th. The shares were sold at an average price of $44.44, for a total value of $111,100.00. Following the completion of the transaction, the director directly owned 52,908 shares in the company, valued at $2,351,231.52. This trade represents a 4.51% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 48,700 shares of company stock worth $2,635,960. 39.80% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of BKE. AQR Capital Management LLC raised its position in Buckle by 9.5% in the 1st quarter. AQR Capital Management LLC now owns 94,408 shares of the company’s stock worth $3,618,000 after buying an additional 8,202 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Buckle by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 18,363 shares of the company’s stock worth $704,000 after purchasing an additional 797 shares during the period. Millennium Management LLC raised its stake in Buckle by 15.3% during the 1st quarter. Millennium Management LLC now owns 99,547 shares of the company’s stock valued at $3,815,000 after buying an additional 13,189 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in Buckle by 1,928.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 649 shares of the company’s stock valued at $25,000 after buying an additional 617 shares during the last quarter. Finally, Russell Investments Group Ltd. boosted its stake in shares of Buckle by 323.6% in the 2nd quarter. Russell Investments Group Ltd. now owns 27,366 shares of the company’s stock worth $1,241,000 after buying an additional 20,905 shares during the last quarter. 53.93% of the stock is owned by institutional investors.

About Buckle

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.