Buckle (NYSE:BKE) Reaches New 52-Week High – Here’s Why

The Buckle, Inc. (NYSE:BKE) shares hit a new 52-week high on Monday . The stock traded as high as $50.70 and last traded at $50.70, with a volume of 31507 shares trading hands. The stock had previously closed at $48.86.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on BKE shares. UBS Group raised shares of Buckle from a “sell” rating to a “neutral” rating and increased their price objective for the company from $31.00 to $46.00 in a research report on Tuesday, November 12th. StockNews.com raised shares of Buckle from a “hold” rating to a “buy” rating in a research report on Monday, November 18th.

Buckle Price Performance

The firm has a market capitalization of $2.64 billion, a P/E ratio of 13.09 and a beta of 1.14. The business’s 50-day moving average is $44.17 and its 200 day moving average is $40.90.

Buckle (NYSE:BKE) last released its quarterly earnings results on Friday, November 22nd. The company reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $0.89 by ($0.01). Buckle had a return on equity of 44.11% and a net margin of 16.21%. The business had revenue of $293.60 million for the quarter, compared to the consensus estimate of $293.60 million. During the same period in the prior year, the business posted $1.04 earnings per share. Buckle’s revenue was down 3.3% compared to the same quarter last year.

Buckle Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date was Friday, October 11th. Buckle’s dividend payout ratio is 35.53%.

Insider Buying and Selling

In other news, SVP Brett P. Milkie sold 16,000 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $41.35, for a total value of $661,600.00. Following the sale, the senior vice president now directly owns 80,170 shares in the company, valued at approximately $3,315,029.50. This trade represents a 16.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Dennis H. Nelson sold 20,453 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $42.90, for a total transaction of $877,433.70. Following the completion of the sale, the chief executive officer now owns 1,822,546 shares in the company, valued at approximately $78,187,223.40. The trade was a 1.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 142,931 shares of company stock valued at $6,080,458. 39.80% of the stock is owned by company insiders.

Institutional Investors Weigh In On Buckle

Several hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. boosted its position in Buckle by 52.0% during the 3rd quarter. Blue Trust Inc. now owns 789 shares of the company’s stock worth $35,000 after buying an additional 270 shares during the period. Unison Advisors LLC raised its holdings in Buckle by 0.9% during the 3rd quarter. Unison Advisors LLC now owns 37,859 shares of the company’s stock worth $1,665,000 after purchasing an additional 334 shares during the last quarter. Quarry LP raised its holdings in Buckle by 60.9% during the 3rd quarter. Quarry LP now owns 938 shares of the company’s stock worth $41,000 after purchasing an additional 355 shares during the last quarter. Redhawk Wealth Advisors Inc. raised its holdings in Buckle by 2.7% during the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 13,927 shares of the company’s stock worth $514,000 after purchasing an additional 370 shares during the last quarter. Finally, Exchange Traded Concepts LLC raised its holdings in Buckle by 0.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 59,961 shares of the company’s stock worth $2,636,000 after purchasing an additional 396 shares during the last quarter. 53.93% of the stock is currently owned by institutional investors and hedge funds.

About Buckle

The Buckle, Inc operates as a retailer of casual apparel, footwear, and accessories for young men and women in the United States. It markets a selection of brand name casual apparel, including denims, other casual bottoms, tops, sportswear, outerwear, accessories, and footwear, as well as private label merchandise primarily comprising BKE, Buckle Black, Salvage, Red by BKE, Daytrip, Gimmicks, Gilded Intent, FITZ + EDDI, Willow & Root, Outpost Makers, Departwest, Sterling & Stitch, Reclaim, BKE Vintage, Nova Industries, J.B.