Denali Advisors LLC Cuts Stock Position in Buckle, Inc. (The) $BKE

Denali Advisors LLC lessened its position in Buckle, Inc. (The) (NYSE:BKE) by 9.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 153,675 shares of the company’s stock after selling 15,837 shares during the quarter. Denali Advisors LLC owned approximately 0.30% of Buckle worth $6,969,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of BKE. Illinois Municipal Retirement Fund raised its holdings in shares of Buckle by 5.7% in the 1st quarter. Illinois Municipal Retirement Fund now owns 16,566 shares of the company’s stock valued at $635,000 after buying an additional 887 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Buckle by 12.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 24,377 shares of the company’s stock valued at $926,000 after buying an additional 2,727 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Buckle by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 165,324 shares of the company’s stock valued at $6,335,000 after buying an additional 3,688 shares during the period. Edgestream Partners L.P. purchased a new stake in shares of Buckle in the 1st quarter valued at $1,666,000. Finally, Victory Capital Management Inc. increased its holdings in Buckle by 10.0% during the 1st quarter. Victory Capital Management Inc. now owns 645,958 shares of the company’s stock worth $24,753,000 after purchasing an additional 58,785 shares during the period. Hedge funds and other institutional investors own 53.93% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on BKE. Wall Street Zen upgraded Buckle from a “hold” rating to a “buy” rating in a report on Saturday, September 6th. UBS Group upped their price target on Buckle from $51.00 to $54.00 and gave the stock a “neutral” rating in a report on Monday, August 25th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Buckle in a report on Wednesday, October 8th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $54.00.

Buckle Stock Performance

BKE opened at $55.12 on Wednesday. Buckle, Inc. has a one year low of $33.12 and a one year high of $61.69. The company has a market cap of $2.82 billion, a P/E ratio of 13.78 and a beta of 1.06. The business’s 50-day simple moving average is $57.41 and its 200-day simple moving average is $47.85.

Buckle (NYSE:BKE) last released its quarterly earnings data on Friday, August 22nd. The company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.06. Buckle had a return on equity of 43.97% and a net margin of 16.12%.The business had revenue of $305.74 million for the quarter, compared to the consensus estimate of $292.61 million. During the same quarter in the prior year, the business posted $0.78 EPS. The business’s revenue for the quarter was up 8.3% on a year-over-year basis.

Buckle Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 29th. Stockholders of record on Wednesday, October 15th will be issued a $0.35 dividend. The ex-dividend date is Wednesday, October 15th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.5%. Buckle’s dividend payout ratio is presently 35.00%.

Insiders Place Their Bets

In other news, Director James E. Shada sold 20,000 shares of the stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $59.49, for a total value of $1,189,800.00. Following the transaction, the director owned 55,352 shares in the company, valued at approximately $3,292,890.48. This represents a 26.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director John P. Peetz sold 1,500 shares of the stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $55.74, for a total value of $83,610.00. Following the completion of the transaction, the director owned 23,623 shares in the company, valued at approximately $1,316,746.02. The trade was a 5.97% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,500 shares of company stock worth $2,821,630. Insiders own 39.80% of the company’s stock.

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.