Insider Selling: Buckle (NYSE:BKE) EVP Sells $2,462,055.40 in Stock

Buckle, Inc. (The) (NYSE:BKE) EVP Kari Smith sold 48,860 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president directly owned 76,754 shares of the company’s stock, valued at $3,867,634.06. The trade was a 38.90% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Buckle Trading Up 0.9%

BKE stock opened at $49.55 on Friday. The company’s 50 day moving average is $51.90 and its 200 day moving average is $54.94. The stock has a market cap of $2.53 billion, a price-to-earnings ratio of 11.97 and a beta of 1.17. Buckle, Inc. has a 1-year low of $33.12 and a 1-year high of $61.69.

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

Hedge Funds Weigh In On Buckle

Several institutional investors and hedge funds have recently made changes to their positions in BKE. Amundi lifted its stake in Buckle by 676.9% in the fourth quarter. Amundi now owns 421,200 shares of the company’s stock worth $22,501,000 after purchasing an additional 366,986 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Buckle by 44.9% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,043,548 shares of the company’s stock valued at $55,746,000 after buying an additional 323,361 shares during the last quarter. Morgan Stanley grew its stake in shares of Buckle by 26.8% during the fourth quarter. Morgan Stanley now owns 1,244,389 shares of the company’s stock valued at $66,475,000 after buying an additional 263,338 shares during the last quarter. Two Sigma Investments LP increased its holdings in shares of Buckle by 3,695.1% in the third quarter. Two Sigma Investments LP now owns 242,510 shares of the company’s stock worth $14,226,000 after buying an additional 236,120 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Buckle by 376.3% in the third quarter. JPMorgan Chase & Co. now owns 288,920 shares of the company’s stock worth $16,948,000 after buying an additional 228,260 shares during the period. Institutional investors own 53.93% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Buckle from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Weiss Ratings restated a “hold (c+)” rating on shares of Buckle in a research report on Wednesday, January 21st. Finally, UBS Group dropped their price target on Buckle from $55.00 to $53.00 and set a “neutral” rating for the company in a research note on Monday. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $53.00.

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.