Buckle Inc’s December Same Store Sales Numbers Miss Analysts’ Estimates, Shares Drop by 8.2% (NYSE:BKE)

Buckle’s (NYSE:BKE) same store sales fell 3.6% during the month of December. Buckle’s stock fell by 8.2% in the first day of trading following the news.

BKE has been the subject of several research reports. Zacks Investment Research upgraded shares of Buckle from a “sell” rating to a “buy” rating and set a $18.00 target price for the company in a report on Wednesday, November 1st. ValuEngine upgraded shares of Buckle from a “buy” rating to a “strong-buy” rating in a research note on Friday, December 1st.

In other news, SVP Brett P. Milkie sold 1,500 shares of Buckle stock in a transaction on Wednesday, November 22nd. The shares were sold at an average price of $21.02, for a total transaction of $31,530.00. Following the completion of the sale, the senior vice president now directly owns 32,070 shares of the company’s stock, valued at approximately $674,111.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert Erle Campbell sold 2,000 shares of Buckle stock in a transaction on Monday, November 20th. The stock was sold at an average price of $21.00, for a total transaction of $42,000.00. Following the sale, the director now directly owns 31,964 shares of the company’s stock, valued at $671,244. The disclosure for this sale can be found here. Insiders own 41.70% of the company’s stock.

Shares of Buckle (NYSE:BKE) opened at $19.95 on Thursday. Buckle has a 1 year low of $13.50 and a 1 year high of $25.11. The firm has a market cap of $976.83, a price-to-earnings ratio of 11.53 and a beta of 1.09.

Buckle (NYSE:BKE) last announced its quarterly earnings results on Friday, November 17th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. Buckle had a net margin of 9.17% and a return on equity of 19.13%. The firm had revenue of $224.30 million during the quarter, compared to analysts’ expectations of $224.12 million. During the same period in the previous year, the company earned $0.49 earnings per share. Buckle’s quarterly revenue was down 6.2% compared to the same quarter last year. analysts anticipate that Buckle will post 1.74 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 26th. Stockholders of record on Friday, January 12th will be issued a $0.25 dividend. The ex-dividend date is Thursday, January 11th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 5.01%. Buckle’s payout ratio is 57.80%.

Large investors have recently made changes to their positions in the company. Municipal Employees Retirement System of Michigan raised its holdings in shares of Buckle by 4.6% in the second quarter. Municipal Employees Retirement System of Michigan now owns 6,650 shares of the company’s stock valued at $118,000 after buying an additional 290 shares during the last quarter. Public Employees Retirement System of Ohio raised its holdings in shares of Buckle by 14.2% in the second quarter. Public Employees Retirement System of Ohio now owns 7,983 shares of the company’s stock valued at $142,000 after buying an additional 995 shares during the last quarter. Pacad Investment Ltd. raised its holdings in shares of Buckle by 750.0% in the second quarter. Pacad Investment Ltd. now owns 8,500 shares of the company’s stock valued at $151,000 after buying an additional 7,500 shares during the last quarter. WealthPLAN Partners LLC raised its holdings in shares of Buckle by 6,281.0% in the second quarter. WealthPLAN Partners LLC now owns 12,762 shares of the company’s stock valued at $227,000 after buying an additional 12,562 shares during the last quarter. Finally, Voya Investment Management LLC raised its holdings in shares of Buckle by 17.8% in the second quarter. Voya Investment Management LLC now owns 13,913 shares of the company’s stock valued at $248,000 after buying an additional 2,102 shares during the last quarter. 59.64% of the stock is owned by institutional investors and hedge funds.

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About Buckle

The Buckle, Inc is a retailer of casual apparel, footwear and accessories for young men and women. As of January 28, 2017, the Company operated 467 retail stores in 44 states throughout the United States under the names Buckle and The Buckle. The Company markets a selection of brand name casual apparel, including denims, other casual bottoms, tops, sportswear, outerwear, accessories and footwear.

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