Buckle (NYSE:BKE) Stock Gets Price Target Reduction from UBS Group

Buckle (NYSE:BKE) had its target price lowered by UBS Group from $46.00 to $45.00 in a report released on Thursday morning,Benzinga reports. UBS Group currently has a neutral rating on the stock.

Separately, Weiss Ratings raised shares of Buckle from a “hold (c)” rating to a “hold (c+)” rating in a report on Thursday, October 15th. Two equities research analysts have rated the stock with a Hold rating. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $45.00.

Buckle Stock Down 0.4%

Shares of BKE traded down $0.17 during midday trading on Thursday, reaching $43.77. 514,396 shares of the stock were exchanged, compared to its average volume of 452,658. The stock’s 50 day simple moving average is $43.76 and its 200 day simple moving average is $47.00. The company has a market cap of $2.25 billion, a P/E ratio of 10.09 and a beta of 1.14. Buckle has a twelve month low of $39.44 and a twelve month high of $58.52.

Buckle (NYSE:BKE) last released its quarterly earnings results on Friday, August 21st. The company reported $0.87 EPS for the quarter, beating the consensus estimate of $0.81 by $0.06. Buckle had a net margin of 16.62% and a return on equity of 46.91%. The business had revenue of $319.82 million for the quarter, compared to the consensus estimate of $319.80 million. During the same period in the prior year, the company posted $0.89 earnings per share. Buckle’s revenue was up 4.6% compared to the same quarter last year.

Buckle Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 29th. Stockholders of record on Thursday, October 15th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date was Thursday, October 15th. Buckle’s dividend payout ratio is presently 32.26%.

Insider Buying and Selling at Buckle

In related news, Director Bill L. Fairfield sold 8,500 shares of the company’s stock in a transaction dated Thursday, October 15th. The shares were sold at an average price of $46.38, for a total transaction of $394,230.00. Following the completion of the sale, the director owned 44,408 shares of the company’s stock, valued at $2,059,643.04. This represents a 16.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Scott A. Werth sold 2,500 shares of the stock in a transaction dated Thursday, October 22nd. The stock was sold at an average price of $46.75, for a total transaction of $116,875.00. Following the sale, the senior vice president owned 46,960 shares in the company, valued at $2,195,380. The trade was a 5.05% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 38.40% of the company’s stock.

Institutional Trading of Buckle

A number of institutional investors and hedge funds have recently made changes to their positions in BKE. BlackRock Inc. bought a new position in Buckle in the second quarter valued at approximately $208,888,000. Dimensional Fund Advisors LP lifted its stake in Buckle by 2.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,342,045 shares of the company’s stock worth $67,582,000 after purchasing an additional 30,128 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Buckle by 6.6% during the first quarter. Renaissance Technologies LLC now owns 1,167,752 shares of the company’s stock worth $58,808,000 after purchasing an additional 72,550 shares during the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Buckle in the 2nd quarter valued at $27,466,000. Finally, Impala Asset Management LLC boosted its holdings in shares of Buckle by 4.9% in the 1st quarter. Impala Asset Management LLC now owns 419,578 shares of the company’s stock valued at $21,130,000 after purchasing an additional 19,459 shares in the last quarter. Institutional investors own 53.93% of the company’s stock.

About Buckle

The Buckle, Inc. is a specialty retailer of casual apparel, footwear and accessories. Its stores offer clothing for men and women, with a particular focus on denim, alongside tops, outerwear, shoes and fashion accessories. The company sells merchandise from national brands as well as private-label lines, and combines its in-store business with online sales. Its retail locations serve customers across the United States. Founded in Nebraska in 1948 as Mills Clothing, the company later adopted The Buckle name.