Buckle Inc. Same Store Sales Down 10.9% in September (NYSE:BKE)
Buckle’s (NYSE:BKE) same-store sales fell 10.9% in the month of September. The company missed analysts’ estimates of a 9.2% year-over-year decline in sales. Buckle’s shares dropped by 0.7% in the first full-day of trading following the report.
A number of research analysts recently issued reports on BKE shares. KeyCorp reaffirmed an “equal weight” rating on shares of Buckle in a report on Sunday, June 26th. Deutsche Bank AG reaffirmed a “sell” rating and set a $22.00 target price on shares of Buckle in a report on Tuesday, July 5th. Zacks Investment Research raised Buckle from a “strong sell” rating to a “hold” rating in a report on Monday, July 25th. Finally, Wedbush reaffirmed a “neutral” rating and set a $21.00 target price (down from $22.00) on shares of Buckle in a report on Sunday, September 4th. Three investment analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $29.80.
In related news, VP Kelli D. Molczyk sold 4,000 shares of Buckle stock in a transaction dated 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 owns 21,163 shares of the company’s stock, valued at approximately $565,263.73. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Kyle Hanson sold 1,000 shares of Buckle 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 completion of the transaction, the vice president now directly owns 25,400 shares in the company, valued at approximately $666,750. The disclosure for this sale can be found here. 41.80% of the stock is owned by corporate insiders.
Buckle (NYSE:BKE) opened at 23.65 on Thursday. The stock has a market cap of $1.14 billion, a PE ratio of 8.83 and a beta of 1.20. The firm’s 50-day moving average price is $25.16 and its 200 day moving average price is $26.73. Buckle has a 1-year low of $22.00 and a 1-year high of $37.51.
Buckle (NYSE:BKE) last posted its quarterly earnings data on Friday, August 19th. The company reported $0.32 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by $0.04. The business earned $212.20 million during the quarter. Buckle had a return on equity of 30.53% and a net margin of 12.06%. The business’s quarterly revenue was down 10.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.49 earnings per share. Equities research analysts expect that Buckle will post $2.38 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 27th. Stockholders of record on Friday, October 14th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.23%. The ex-dividend date is Wednesday, October 12th. Buckle’s dividend payout ratio (DPR) is presently 37.45%.
Institutional investors have recently modified their holdings of the stock. Aperio Group LLC raised its position in shares of Buckle by 1.0% in the first quarter. Aperio Group LLC now owns 14,850 shares of the company’s stock valued at $503,000 after buying an additional 147 shares during the period. Icon Advisers Inc. Co. purchased a new position in shares of Buckle during the first quarter valued at about $718,000. Prudential Financial Inc. raised its position in shares of Buckle by 14.1% in the first quarter. Prudential Financial Inc. now owns 75,319 shares of the company’s stock valued at $2,551,000 after buying an additional 9,305 shares during the period. BlackRock Inc. raised its position in shares of Buckle by 129.0% in the first quarter. BlackRock Inc. now owns 4,186 shares of the company’s stock valued at $142,000 after buying an additional 2,358 shares during the period. Finally, BlackRock Group LTD raised its position in shares of Buckle by 8.5% in the first quarter. BlackRock Group LTD now owns 36,512 shares of the company’s stock valued at $1,237,000 after buying an additional 2,845 shares during the period. 65.35% of the stock is currently owned by institutional investors and hedge funds.
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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