State Board of Administration of Florida Retirement System Reduces Position in Buckle Inc. (BKE)
State Board of Administration of Florida Retirement System lowered its position in shares of Buckle Inc. (NYSE:BKE) by 19.4% during the second quarter, Holdings Channel reports. The institutional investor owned 17,669 shares of the company’s stock after selling 4,257 shares during the period. State Board of Administration of Florida Retirement System’s holdings in Buckle were worth $459,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Summit Street Capital Management LLC increased its position in Buckle by 26.7% in the first quarter. Summit Street Capital Management LLC now owns 71,084 shares of the company’s stock worth $2,408,000 after buying an additional 14,975 shares in the last quarter. Kennedy Capital Management Inc. increased its position in shares of Buckle by 36.4% in the first quarter. Kennedy Capital Management Inc. now owns 156,875 shares of the company’s stock worth $5,313,000 after buying an additional 41,848 shares during the period. UBS Group AG increased its position in shares of Buckle by 5.1% in the first quarter. UBS Group AG now owns 96,367 shares of the company’s stock worth $3,264,000 after buying an additional 4,683 shares during the period. Zebra Capital Management LLC increased its position in shares of Buckle by 104.9% in the first quarter. Zebra Capital Management LLC now owns 58,748 shares of the company’s stock worth $1,990,000 after buying an additional 30,080 shares during the period. Finally, Palisade Capital Management LLC NJ increased its position in shares of 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 during the period. Institutional investors own 65.35% of the company’s stock.
Shares of Buckle Inc. (NYSE:BKE) traded down 0.19% during mid-day trading on Friday, reaching $21.20. 1,165,704 shares of the company traded hands. The company has a market capitalization of $1.02 billion, a P/E ratio of 7.92 and a beta of 1.20. Buckle Inc. has a 52 week low of $20.85 and a 52 week high of $36.73. The stock’s 50-day moving average is $24.86 and its 200-day moving average is $26.60.
Buckle (NYSE:BKE) last issued its earnings results on Friday, August 19th. The company reported $0.32 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.36 by $0.04. The firm earned $212.20 million during the quarter. Buckle had a net margin of 12.06% and a return on equity of 30.53%. The firm’s quarterly revenue was down 10.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.49 earnings per share. On average, equities analysts predict that Buckle Inc. will post $2.38 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 27th. Stockholders of record on Friday, October 14th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.72%. The ex-dividend date is Wednesday, October 12th. Buckle’s payout ratio is 37.45%.
BKE has been the subject of a number of analyst reports. Wedbush reiterated a “neutral” rating and issued a $21.00 price objective (down previously from $22.00) on shares of Buckle in a research report on Sunday, September 4th. Deutsche Bank AG restated a “sell” rating and set a $22.00 price target on shares of Buckle in a research report on Tuesday, July 5th. KeyCorp restated an “equal weight” rating on shares of Buckle in a research report on Sunday, June 26th. Finally, Zacks Investment Research downgraded shares of Buckle from a “hold” rating to a “sell” rating in a research report on Wednesday, August 3rd. Three analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. Buckle has an average rating of “Hold” and an average price target of $29.80.
In related news, VP Kyle Hanson sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, July 19th. The shares were sold at an average price of $26.25, for a total value of $26,250.00. Following the completion of the sale, the vice president now owns 25,400 shares in the company, valued at $666,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Kelli D. Molczyk sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, July 13th. The shares were sold at an average price of $26.71, for a total transaction of $106,840.00. Following the completion of the sale, the vice president now owns 21,163 shares of the company’s stock, valued at approximately $565,263.73. The disclosure for this sale can be found here. 41.80% of the stock is currently owned by insiders.
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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