Buckle’s (NYSE:BKE) same store sales dropped 10.9% in the month of September. The company missed analysts’ expectations of a 9.2% year-over-year decline in sales. Buckle’s stock fell by 0.7% in the first day of trading following the report.
Several equities analysts recently issued reports on the company. KeyCorp restated an “equal weight” rating on shares of Buckle in a research report on Sunday, June 26th. Wedbush restated a “neutral” rating and issued a $21.00 price target (down previously from $22.00) on shares of Buckle in a research report on Sunday, September 4th. Zacks Investment Research upgraded Buckle from a “strong sell” rating to a “hold” rating in a research report on Monday, July 25th. Finally, Deutsche Bank AG restated a “sell” rating and issued a $22.00 price target on shares of Buckle in a research report on Tuesday, July 5th. Three analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. Buckle presently has a consensus rating of “Hold” and an average target price of $29.80.
In other Buckle news, VP Kyle Hanson sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 19th. The stock was sold at an average price of $26.25, for a total transaction of $26,250.00. Following the transaction, the vice president now owns 25,400 shares in the company, valued at approximately $666,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 41.80% of the company’s stock.
Shares of Buckle (NYSE:BKE) opened at 21.65 on Friday. The stock’s 50 day moving average price is $24.00 and its 200 day moving average price is $26.23. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 8.08 and a beta of 1.20. Buckle has a 52 week low of $20.85 and a 52 week high of $36.16.
Buckle (NYSE:BKE) last issued its earnings results on Friday, August 19th. The company reported $0.32 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.36 by $0.04. Buckle had a return on equity of 30.53% and a net margin of 12.06%. The business earned $212.20 million during the quarter. During the same quarter in the prior year, the company earned $0.49 earnings per share. The firm’s revenue was down 10.1% compared to the same quarter last year. Equities research analysts anticipate that Buckle will post $2.38 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 27th. Shareholders of record on Friday, October 14th will be issued a $0.25 dividend. The ex-dividend date is Wednesday, October 12th. This represents a $1.00 dividend on an annualized basis and a yield of 4.62%. Buckle’s dividend payout ratio is currently 37.45%.
Institutional investors have recently modified their holdings of the company. FMR LLC boosted its position in shares of Buckle by 14.1% in the second quarter. FMR LLC now owns 7,271,631 shares of the company’s stock worth $188,990,000 after buying an additional 896,298 shares in the last quarter. Schroder Investment Management Group boosted its position in shares of Buckle by 37.0% in the second quarter. Schroder Investment Management Group now owns 1,931,983 shares of the company’s stock worth $50,212,000 after buying an additional 522,000 shares in the last quarter. BlackRock Fund Advisors boosted its position in shares of Buckle by 3.5% in the second quarter. BlackRock Fund Advisors now owns 1,906,753 shares of the company’s stock worth $49,557,000 after buying an additional 63,995 shares in the last quarter. Hamlin Capital Management LLC boosted its position in shares of Buckle by 2.0% in the second quarter. Hamlin Capital Management LLC now owns 1,735,380 shares of the company’s stock worth $45,103,000 after buying an additional 34,306 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Buckle by 2.0% in the second quarter. State Street Corp now owns 794,820 shares of the company’s stock worth $20,654,000 after buying an additional 15,372 shares in the last quarter. 65.35% of the stock is currently owned by hedge funds and other institutional investors.
The Buckle, Inc is a retailer of casual apparel, footwear and accessories for young men and women. The Company markets a selection of brand name casual apparel, including denims, other casual bottoms, tops, sportswear, outerwear, accessories and footwear. The Company provides customer services, such as free hemming, free gift-wrapping, easy layaways, the Buckle private label credit card, and a frequent shopper program.
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