Buckle (NYSE:BKE) Announces Earnings Results, Beats Expectations By $0.18 EPS

Buckle (NYSE:BKE) issued its quarterly earnings data on Friday. The company reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.18, Briefing.com reports. Buckle had a return on equity of 45.18% and a net margin of 16.16%.During the same quarter last year, the business earned $0.70 EPS. The business’s quarterly revenue was up 6.1% on a year-over-year basis.

Buckle Trading Up 1.5%

NYSE:BKE opened at $50.50 on Friday. The firm has a market cap of $2.60 billion, a price-to-earnings ratio of 12.20 and a beta of 1.16. Buckle has a 12-month low of $42.09 and a 12-month high of $61.69. The company’s 50-day moving average is $51.73 and its two-hundred day moving average is $53.07.

Buckle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, April 29th. Investors of record on Wednesday, April 15th were paid a $0.35 dividend. The ex-dividend date of this dividend was Wednesday, April 15th. This represents a $1.40 annualized dividend and a yield of 2.8%. Buckle’s payout ratio is presently 33.82%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on BKE. Weiss Ratings raised shares of Buckle from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, March 20th. UBS Group cut their price objective on Buckle from $53.00 to $52.00 and set a “neutral” rating for the company in a research report on Friday, May 22nd. Finally, Wall Street Zen lowered shares of Buckle from a “buy” rating to a “hold” rating in a research report on Saturday, April 4th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $52.00.

Insider Activity at Buckle

In related news, SVP Michelle Hoffman sold 29,281 shares of the firm’s stock in a transaction that occurred on Friday, March 20th. The shares were sold at an average price of $49.12, for a total transaction of $1,438,282.72. Following the sale, the senior vice president owned 45,882 shares in the company, valued at approximately $2,253,723.84. This trade represents a 38.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kari G. Smith sold 48,860 shares of the business’s stock in a transaction on Tuesday, March 17th. The shares were sold at an average price of $50.39, for a total value of $2,462,055.40. Following the completion of the transaction, the executive vice president owned 76,754 shares of the company’s stock, valued at $3,867,634.06. This trade represents a 38.90% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 126,200 shares of company stock worth $6,517,932 in the last three months. Insiders own 39.00% of the company’s stock.

Institutional Investors Weigh In On Buckle

Several large investors have recently made changes to their positions in BKE. Glenmede Investment Management LP boosted its holdings in shares of Buckle by 3.8% in the third quarter. Glenmede Investment Management LP now owns 7,477 shares of the company’s stock worth $439,000 after buying an additional 277 shares during the period. Thrivent Financial for Lutherans lifted its position in shares of Buckle by 1.4% in the 2nd quarter. Thrivent Financial for Lutherans now owns 22,342 shares of the company’s stock valued at $1,013,000 after acquiring an additional 314 shares in the last quarter. Vident Advisory LLC boosted its stake in Buckle by 2.1% in the 4th quarter. Vident Advisory LLC now owns 14,982 shares of the company’s stock worth $800,000 after purchasing an additional 315 shares during the period. Aviva PLC grew its position in Buckle by 5.4% during the 4th quarter. Aviva PLC now owns 8,637 shares of the company’s stock worth $461,000 after purchasing an additional 440 shares in the last quarter. Finally, Swiss National Bank raised its stake in Buckle by 0.8% during the 3rd quarter. Swiss National Bank now owns 59,500 shares of the company’s stock valued at $3,490,000 after purchasing an additional 500 shares during the period. Institutional investors and hedge funds own 53.93% of the company’s stock.

About Buckle

Buckle, Inc is a retailer specializing in casual apparel, footwear and accessories for young men and women. The company is known for its denim-focused collections, offering both private-label lines and curated brand-name merchandise. Its product assortment includes jeans, tops, outerwear, shoes and a variety of accessories such as belts, jewelry and handbags, all aimed at blending contemporary style with everyday comfort.

Founded in 1948 in Kearney, Nebraska, Buckle began as a single clothing store and has since expanded into a nationwide chain.