California State Teachers Retirement System cut its stake in shares of Buckle Inc. (NYSE:BKE) by 0.3% during the second quarter, Holdings Channel reports. The institutional investor owned 60,034 shares of the company’s stock after selling 154 shares during the period. California State Teachers Retirement System owned about 0.12% of Buckle worth $1,560,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Shufro Rose & Co. LLC increased its stake in Buckle by 2.8% in the first quarter. Shufro Rose & Co. LLC now owns 238,395 shares of the company’s stock worth $8,074,000 after buying an additional 6,435 shares in the last quarter. Palisade Capital Management LLC NJ increased its stake in Buckle by 10.6% in the first quarter. Palisade Capital Management LLC NJ now owns 438,402 shares of the company’s stock worth $14,849,000 after buying an additional 42,090 shares in the last quarter. NN Investment Partners Holdings N.V. purchased a new stake in Buckle during the first quarter worth $912,000. JPMorgan Chase & Co. increased its stake in Buckle by 6.9% in the first quarter. JPMorgan Chase & Co. now owns 26,982 shares of the company’s stock worth $914,000 after buying an additional 1,744 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. increased its stake in Buckle by 1.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 688,512 shares of the company’s stock worth $23,320,000 after buying an additional 10,692 shares in the last quarter. 65.35% of the stock is owned by institutional investors.
Shares of Buckle Inc. (NYSE:BKE) traded down 0.12% during trading on Monday, hitting $24.73. The company had a trading volume of 195,614 shares. Buckle Inc. has a 1-year low of $22.00 and a 1-year high of $38.61. The company’s 50 day moving average is $25.82 and its 200 day moving average is $27.41. The firm has a market capitalization of $1.19 billion, a P/E ratio of 9.23 and a beta of 1.10.
Buckle (NYSE:BKE) last announced its quarterly earnings results on Friday, August 19th. The company reported $0.32 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.36 by $0.04. The business had revenue of $212.20 million for the quarter. Buckle had a net margin of 12.06% and a return on equity of 30.53%. Buckle’s quarterly revenue was down 10.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.49 earnings per share. Analysts anticipate that Buckle Inc. will post $2.38 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 27th. Stockholders of record on Friday, October 14th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.04%. The ex-dividend date is Wednesday, October 12th. Buckle’s payout ratio is currently 37.45%.
A number of research firms have weighed in on BKE. KeyCorp reissued an “equal weight” rating on shares of Buckle in a research report on Sunday, June 26th. Wedbush restated a “neutral” rating and set a $21.00 price target (down from $22.00) on shares of Buckle in a report on Sunday, September 4th. Zacks Investment Research upgraded Buckle from a “strong sell” rating to a “hold” rating in a report on Monday, July 25th. Finally, Deutsche Bank AG restated a “sell” rating on shares of Buckle in a report on Tuesday, May 31st. Three research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $29.80.
In other Buckle news, VP Kyle Hanson sold 1,000 shares of the stock in a transaction dated Tuesday, July 19th. The stock was sold at an average price of $26.25, for a total value of $26,250.00. Following the transaction, the vice president now owns 25,400 shares of the company’s stock, valued at $666,750. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Kelli D. Molczyk sold 4,000 shares of the stock in a transaction dated Wednesday, July 13th. The shares were sold at an average price of $26.71, for a total value of $106,840.00. Following the completion of the transaction, the vice president now directly owns 21,163 shares in the company, valued at approximately $565,263.73. The disclosure for this sale can be found here. Insiders own 41.80% of the company’s stock.
Buckle Company Profile
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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