Buckle (NYSE:BKE) Releases Earnings Results

Buckle (NYSE:BKE) posted its quarterly earnings results on Friday. The company reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.81 by $0.06, Briefing.com reports. Buckle had a net margin of 16.85% and a return on equity of 47.35%. Buckle’s revenue for the quarter was up 4.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.89 EPS.

Buckle Stock Down 1.7%

Shares of BKE opened at $42.51 on Friday. The stock’s 50-day moving average price is $43.64 and its 200 day moving average price is $48.42. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of 9.75 and a beta of 1.10. Buckle has a 12-month low of $40.73 and a 12-month high of $61.69.

Buckle Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 29th. Shareholders of record on Wednesday, July 15th were issued a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, July 15th. This represents a $1.40 dividend on an annualized basis and a yield of 3.3%. Buckle’s dividend payout ratio is 32.11%.

Insider Activity

In other news, Director Bill L. Fairfield sold 2,500 shares of Buckle stock in a transaction dated Monday, June 8th. The shares were sold at an average price of $44.44, for a total transaction of $111,100.00. Following the sale, the director directly owned 52,908 shares in the company, valued at approximately $2,351,231.52. The trade was a 4.51% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 38.40% of the company’s stock.

Institutional Investors Weigh In On Buckle

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC increased 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 valued at $3,618,000 after acquiring an additional 8,202 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised 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 last quarter. Millennium Management LLC lifted its holdings in Buckle by 15.3% during the 1st quarter. Millennium Management LLC now owns 99,547 shares of the company’s stock worth $3,815,000 after buying an additional 13,189 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Buckle by 1,928.1% in 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 period. Finally, Russell Investments Group Ltd. raised its position in shares of Buckle by 323.6% during the second quarter. Russell Investments Group Ltd. now owns 27,366 shares of the company’s stock worth $1,241,000 after acquiring an additional 20,905 shares during the last quarter. 53.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. UBS Group lowered their price target on Buckle from $47.00 to $46.00 and set a “neutral” rating for the company in a research note on Tuesday, August 11th. Weiss Ratings cut Buckle from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, August 14th. Two analysts have rated the stock with a Hold rating, According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $46.00.

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.