Buckle (NYSE:BKE) Sets New 52-Week Low – Time to Sell?

Buckle, Inc. (The) (NYSE:BKE) shares reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $40.75 and last traded at $40.83, with a volume of 16554 shares. The stock had previously closed at $41.46.

Analysts Set New Price Targets

BKE has been the subject of several analyst reports. Wall Street Zen downgraded shares of Buckle from a “buy” rating to a “hold” rating in a report on Saturday, April 4th. UBS Group reduced their price objective on shares of Buckle from $52.00 to $47.00 and set a “neutral” rating for the company in a research report on Monday, June 1st. Finally, Weiss Ratings lowered shares of Buckle from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, June 25th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $47.00.

Buckle Trading Up 0.2%

The stock has a market capitalization of $2.14 billion, a PE ratio of 9.51 and a beta of 1.08. The firm has a 50-day moving average price of $46.68 and a 200-day moving average price of $50.48.

Buckle (NYSE:BKE) last released its earnings results on Friday, May 29th. The company reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.18. The company had revenue of $288.74 million for the quarter, compared to analysts’ expectations of $287.68 million. Buckle had a return on equity of 47.35% and a net margin of 16.85%.The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.70 EPS.

Buckle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 29th. Shareholders of record on Wednesday, July 15th will be given a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, July 15th. This represents a $1.40 annualized dividend and a yield of 3.4%. Buckle’s payout ratio is currently 32.11%.

Insider Buying and Selling at Buckle

In related news, EVP Kari G. Smith sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $54.57, for a total value of $1,637,100.00. Following the transaction, the executive vice president owned 83,814 shares in the company, valued at approximately $4,573,729.98. This represents a 26.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michelle Hoffman sold 16,200 shares of the company’s stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $54.80, for a total value of $887,760.00. Following the completion of the transaction, the senior vice president owned 29,682 shares in the company, valued at approximately $1,626,573.60. The trade was a 35.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 48,700 shares of company stock worth $2,635,960 over the last three months. 39.00% of the stock is currently owned by insiders.

Institutional Trading of Buckle

Hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC grew its stake in shares of Buckle by 9.5% during the 1st quarter. AQR Capital Management LLC now owns 94,408 shares of the company’s stock worth $3,618,000 after acquiring an additional 8,202 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings 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 acquiring an additional 797 shares during the last quarter. Millennium Management LLC raised its stake in Buckle by 15.3% in the 1st quarter. Millennium Management LLC now owns 99,547 shares of the company’s stock valued at $3,815,000 after acquiring an additional 13,189 shares during the period. Geneos Wealth Management Inc. raised its stake in 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 acquiring an additional 617 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in Buckle by 323.6% during the second quarter. Russell Investments Group Ltd. now owns 27,366 shares of the company’s stock valued at $1,241,000 after purchasing an additional 20,905 shares during the last quarter. 53.93% of the stock is currently owned by 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.