Buckle Inc. (BKE) Sees Strong Trading Volume
Buckle Inc. (NYSE:BKE) shares saw unusually-high trading volume on Thursday . Approximately 567,885 shares were traded during mid-day trading, an increase of 91% from the previous session’s volume of 297,914 shares.The stock last traded at $25.25 and had previously closed at $26.46.
BKE has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Buckle from a “sell” rating to a “hold” rating in a research note on Monday, April 11th. Deutsche Bank AG initiated coverage on shares of Buckle in a research note on Tuesday, April 26th. They issued a “sell” rating and a $26.00 price objective on the stock. Wolfe Research downgraded shares of Buckle from a “peer perform” rating to an “underperform” rating and set a $23.00 price objective on the stock. in a research note on Friday, May 6th. Finally, KeyCorp restated an “equal weight” rating on shares of Buckle in a research note on Sunday, June 26th. Three equities research analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. Buckle currently has an average rating of “Hold” and an average target price of $31.80.
The company has a market capitalization of $1.20 billion and a P/E ratio of 8.80. The stock’s 50-day moving average price is $26.09 and its 200 day moving average price is $28.26.
Buckle (NYSE:BKE) last announced its quarterly earnings data on Friday, May 20th. The company reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.56 by $0.08. The firm earned $243.50 million during the quarter. During the same quarter in the previous year, the company posted $0.70 EPS. The company’s revenue for the quarter was down 10.2% on a year-over-year basis. Equities analysts anticipate that Buckle Inc. will post $2.63 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 27th. Stockholders of record on Friday, July 15th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.00%. The ex-dividend date of this dividend was Wednesday, July 13th.
In related 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 directly owns 25,400 shares of the company’s stock, valued at approximately $666,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Kelli D. Molczyk sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 13th. The stock was sold at an average price of $26.71, for a total value of $106,840.00. Following the transaction, the vice president now directly owns 21,163 shares in the company, valued at $565,263.73. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have bought and sold shares of the company. First Trust Advisors LP raised its position in Buckle by 47.3% in the fourth quarter. First Trust Advisors LP now owns 40,712 shares of the company’s stock worth $1,253,000 after buying an additional 13,064 shares during the last quarter. Rhumbline Advisers raised its position in Buckle by 4.2% in the fourth quarter. Rhumbline Advisers now owns 57,814 shares of the company’s stock worth $1,780,000 after buying an additional 2,330 shares during the last quarter. Boston Partners acquired a new position in Buckle during the fourth quarter worth $1,545,000. Wells Fargo & Company MN raised its position in Buckle by 90.3% in the fourth quarter. Wells Fargo & Company MN now owns 470,579 shares of the company’s stock worth $14,484,000 after buying an additional 223,344 shares during the last quarter. Finally, Atlantic Trust Group LLC raised its position in Buckle by 20.8% in the fourth quarter. Atlantic Trust Group LLC now owns 43,037 shares of the company’s stock worth $1,325,000 after buying an additional 7,420 shares during the last quarter.
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.