Buckle (NYSE:BKE) Sets New 1-Year High – Here’s Why

The Buckle, Inc. (NYSE:BKE)’s stock price hit a new 52-week high during trading on Wednesday . The stock traded as high as $49.40 and last traded at $49.38, with a volume of 26278 shares trading hands. The stock had previously closed at $47.61.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. StockNews.com raised shares of Buckle from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. UBS Group raised shares of Buckle from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $31.00 to $46.00 in a research note on Tuesday.

Buckle Stock Performance

The firm has a market cap of $2.51 billion, a PE ratio of 11.61 and a beta of 1.14. The stock’s 50 day simple moving average is $43.21 and its 200 day simple moving average is $40.33.

Buckle (NYSE:BKE) last announced its quarterly earnings data on Friday, August 23rd. The company reported $0.78 earnings per share (EPS) for the quarter. Buckle had a net margin of 16.69% and a return on equity of 46.17%. The company had revenue of $282.39 million during the quarter.

Buckle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 11th were given a $0.35 dividend. This represents a $1.40 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend was Friday, October 11th. Buckle’s dividend payout ratio is currently 34.15%.

Insider Buying and Selling

In other news, CEO Dennis H. Nelson sold 24,666 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $42.44, for a total value of $1,046,825.04. Following the transaction, the chief executive officer now directly owns 1,924,811 shares in the company, valued at $81,688,978.84. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, SVP Brett P. Milkie sold 16,000 shares of Buckle stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $41.35, for a total transaction of $661,600.00. Following the completion of the sale, the senior vice president now owns 80,170 shares of the company’s stock, valued at approximately $3,315,029.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Dennis H. Nelson sold 24,666 shares of the business’s stock in a transaction that occurred on Tuesday, August 27th. The stock was sold at an average price of $42.44, for a total transaction of $1,046,825.04. Following the completion of the transaction, the chief executive officer now directly owns 1,924,811 shares of the company’s stock, valued at $81,688,978.84. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 142,931 shares of company stock worth $6,080,458 in the last 90 days. Insiders own 39.80% of the company’s stock.

Institutional Investors Weigh In On Buckle

Large investors have recently made changes to their positions in the stock. Blue Trust Inc. raised its position in shares of Buckle by 52.0% in the third quarter. Blue Trust Inc. now owns 789 shares of the company’s stock worth $35,000 after acquiring an additional 270 shares during the period. Unison Advisors LLC raised its position in shares of Buckle by 0.9% during the 3rd quarter. Unison Advisors LLC now owns 37,859 shares of the company’s stock valued at $1,665,000 after buying an additional 334 shares during the period. Redhawk Wealth Advisors Inc. raised its position in shares of Buckle by 2.7% during the 2nd quarter. Redhawk Wealth Advisors Inc. now owns 13,927 shares of the company’s stock valued at $514,000 after buying an additional 370 shares during the period. Exchange Traded Concepts LLC raised its position in shares of Buckle by 0.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 59,961 shares of the company’s stock valued at $2,636,000 after buying an additional 396 shares during the period. Finally, Louisiana State Employees Retirement System raised its position in shares of Buckle by 2.8% during the 2nd quarter. Louisiana State Employees Retirement System now owns 14,900 shares of the company’s stock valued at $550,000 after buying an additional 400 shares during the period. 53.93% of the stock is owned by hedge funds and other institutional investors.

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.