Buckle (NYSE:BKE) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen lowered shares of Buckle (NYSE:BKE) from a buy rating to a hold rating in a research report released on Saturday.

Other equities research analysts have also recently issued research reports about the company. Weiss Ratings raised Buckle from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, March 20th. UBS Group dropped their price target on Buckle from $55.00 to $53.00 and set a “neutral” rating on the stock in a research note on Monday, March 16th. One equities research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $53.00.

Buckle Stock Up 0.1%

BKE stock opened at $50.17 on Friday. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of 12.12 and a beta of 1.18. The company’s fifty day simple moving average is $51.03 and its 200 day simple moving average is $54.19. Buckle has a 12-month low of $33.12 and a 12-month high of $61.69.

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

Buckle Dividend Announcement

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

Insider Transactions at Buckle

In related news, SVP Michelle Hoffman sold 29,281 shares of the business’s stock in a transaction dated Friday, March 20th. The stock was sold at an average price of $49.12, for a total value of $1,438,282.72. Following the completion of the sale, the senior vice president directly owned 45,882 shares of the company’s stock, valued at $2,253,723.84. The trade was a 38.96% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Kari G. Smith sold 48,860 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $50.39, for a total value of $2,462,055.40. Following the completion of the transaction, the executive vice president owned 76,754 shares in the company, valued at approximately $3,867,634.06. The trade was a 38.90% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 80,000 shares of company stock valued at $3,993,072 over the last ninety days. 39.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Buckle

A number of institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd acquired a new position in shares of Buckle during the fourth quarter worth approximately $88,000. DGS Capital Management LLC increased its stake in Buckle by 30.1% during the 4th quarter. DGS Capital Management LLC now owns 7,810 shares of the company’s stock valued at $417,000 after purchasing an additional 1,805 shares in the last quarter. Invesco Ltd. increased its stake in Buckle by 2.5% during the 4th quarter. Invesco Ltd. now owns 340,416 shares of the company’s stock valued at $18,185,000 after purchasing an additional 8,249 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its holdings in Buckle by 3.2% during the fourth quarter. Mercer Global Advisors Inc. ADV now owns 20,519 shares of the company’s stock worth $1,096,000 after buying an additional 635 shares during the last quarter. Finally, Summit Global Investments raised its holdings in Buckle by 36.1% during the fourth quarter. Summit Global Investments now owns 23,874 shares of the company’s stock worth $1,275,000 after buying an additional 6,335 shares during the last quarter. 53.93% of the stock is owned by institutional investors and hedge funds.

Buckle Company Profile

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.