Buckle (NYSE:BKE) Shares Gap Down – Time to Sell?

Shares of Buckle, Inc. (The) (NYSE:BKE) gapped down prior to trading on Friday . The stock had previously closed at $50.48, but opened at $48.00. Buckle shares last traded at $47.57, with a volume of 89,651 shares trading hands.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. UBS Group decreased their target price on shares of Buckle from $53.00 to $52.00 and set a “neutral” rating for the company in a research note on Friday, May 22nd. Weiss Ratings upgraded shares of Buckle from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, March 20th. Finally, Wall Street Zen downgraded shares of Buckle from a “buy” rating to a “hold” rating in a research note on Saturday, April 4th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $52.00.

Buckle Price Performance

The firm has a market cap of $2.46 billion, a price-to-earnings ratio of 11.48 and a beta of 1.16. The business’s 50-day moving average price is $51.73 and its two-hundred day moving average price is $53.07.

Buckle (NYSE:BKE) last released its quarterly earnings results on Friday, May 29th. The company reported $0.92 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.18. Buckle had a net margin of 16.16% and a return on equity of 45.18%. Buckle’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.70 earnings per share.

Buckle Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 29th. Shareholders of record on Wednesday, April 15th were issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.9%. The ex-dividend date of this dividend was Wednesday, April 15th. Buckle’s payout ratio is currently 33.82%.

Insiders Place Their Bets

In other Buckle news, EVP Kari G. Smith sold 48,860 shares of Buckle stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $50.39, for a total value of $2,462,055.40. Following the completion of the transaction, the executive vice president owned 76,754 shares of the company’s stock, valued at $3,867,634.06. The trade was a 38.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Michelle Hoffman sold 29,281 shares of Buckle stock in a transaction on Friday, March 20th. The stock was sold at an average price of $49.12, for a total transaction of $1,438,282.72. Following the completion of the transaction, the senior vice president directly owned 45,882 shares of the company’s stock, valued at approximately $2,253,723.84. This represents a 38.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 126,200 shares of company stock valued at $6,517,932. 39.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Buckle

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its holdings in Buckle by 2.3% in the fourth quarter. Vanguard Group Inc. now owns 3,970,767 shares of the company’s stock worth $212,118,000 after purchasing an additional 89,441 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Buckle by 0.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,370,398 shares of the company’s stock valued at $73,207,000 after buying an additional 5,784 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in Buckle by 2.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,342,045 shares of the company’s stock valued at $67,582,000 after buying an additional 30,128 shares during the last quarter. State Street Corp lifted its stake in Buckle by 4.3% in the fourth quarter. State Street Corp now owns 1,321,675 shares of the company’s stock valued at $70,604,000 after buying an additional 54,826 shares during the last quarter. Finally, Morgan Stanley lifted its stake in Buckle by 26.8% in the fourth quarter. Morgan Stanley now owns 1,244,389 shares of the company’s stock valued at $66,475,000 after buying an additional 263,338 shares during the last quarter. Institutional investors and hedge funds own 53.93% of the company’s stock.

Buckle Company Profile

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.