Buckle (NYSE:BKE) Shares Gap Down – Should You Sell?

Buckle, Inc. (The) (NYSE:BKE)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $55.38, but opened at $51.63. Buckle shares last traded at $51.55, with a volume of 54,712 shares.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on BKE shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Buckle in a report on Wednesday, October 8th. UBS Group reaffirmed a “neutral” rating on shares of Buckle in a research note on Friday, January 9th. Finally, Wall Street Zen lowered Buckle from a “buy” rating to a “hold” rating in a report on Sunday. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $55.00.

Buckle Stock Down 5.6%

The stock’s 50 day moving average is $55.76 and its two-hundred day moving average is $54.83. The company has a market capitalization of $2.68 billion, a PE ratio of 12.83 and a beta of 1.12.

Buckle (NYSE:BKE) last issued its quarterly earnings data on Friday, November 21st. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.02. The company had revenue of $320.84 million for the quarter, compared to analyst estimates of $317.97 million. Buckle had a net margin of 16.13% and a return on equity of 44.42%. Buckle’s revenue was up 9.3% compared to the same quarter last year. During the same period last year, the company posted $0.88 earnings per share.

Buckle Announces Dividend

The business also recently disclosed a special dividend, which will be paid on Thursday, January 29th. Investors of record on Thursday, January 15th will be paid a dividend of $3.00 per share. The ex-dividend date is Thursday, January 15th. Buckle’s dividend payout ratio is 34.31%.

Hedge Funds Weigh In On Buckle

Institutional investors and hedge funds have recently bought and sold shares of the company. CWM LLC lifted its holdings in Buckle by 185.6% in the second quarter. CWM LLC now owns 9,885 shares of the company’s stock valued at $448,000 after acquiring an additional 6,424 shares during the period. Geode Capital Management LLC increased its holdings in shares of Buckle by 5.6% during the 2nd quarter. Geode Capital Management LLC now owns 900,932 shares of the company’s stock valued at $40,861,000 after purchasing an additional 47,751 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Buckle by 1.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 532,522 shares of the company’s stock valued at $24,150,000 after purchasing an additional 9,118 shares during the period. Intech Investment Management LLC boosted its holdings in Buckle by 100.4% during the second quarter. Intech Investment Management LLC now owns 101,543 shares of the company’s stock worth $4,605,000 after buying an additional 50,866 shares in the last quarter. Finally, IFP Advisors Inc grew its position in Buckle by 12.5% during the second quarter. IFP Advisors Inc now owns 2,431 shares of the company’s stock valued at $110,000 after buying an additional 270 shares during the period. 53.93% of the stock is owned by hedge funds and other institutional investors.

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.