Buckle (NYSE:BKE) Shares Down 5.5% – What’s Next?

Buckle, Inc. (The) (NYSE:BKE) dropped 5.5% on Thursday . The company traded as low as $52.54 and last traded at $52.3450. Approximately 207,877 shares were traded during mid-day trading, a decline of 65% from the average daily volume of 591,167 shares. The stock had previously closed at $55.41.

Analyst Upgrades and Downgrades

Several research analysts recently commented on BKE shares. Wall Street Zen lowered shares of Buckle from a “buy” rating to a “hold” rating in a research note on Sunday, January 11th. UBS Group restated a “neutral” rating on shares of Buckle in a research report on Friday, January 9th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Buckle in a report on Wednesday, October 8th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $55.00.

Buckle Trading Down 4.8%

The firm has a 50-day moving average of $55.42 and a two-hundred day moving average of $55.05. The firm has a market cap of $2.70 billion, a price-to-earnings ratio of 12.92 and a beta of 1.12.

Buckle (NYSE:BKE) last announced its earnings results on Friday, November 21st. The company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.94 by $0.02. The business had revenue of $320.84 million for the quarter, compared to the consensus estimate of $317.97 million. Buckle had a return on equity of 44.42% and a net margin of 16.13%.Buckle’s revenue was up 9.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.88 EPS.

Buckle Announces Dividend

The business also recently disclosed a special dividend, which will be paid on Thursday, January 29th. Shareholders of record on Thursday, January 15th will be issued a $3.00 dividend. The ex-dividend date is Thursday, January 15th. Buckle’s payout ratio is currently 34.31%.

Institutional Investors Weigh In On Buckle

Several hedge funds have recently added to or reduced their stakes in the business. CWM LLC raised its holdings in shares of Buckle by 185.6% during the 2nd quarter. CWM LLC now owns 9,885 shares of the company’s stock valued at $448,000 after buying an additional 6,424 shares in the last quarter. Geode Capital Management LLC grew its holdings in Buckle by 5.6% in the second quarter. Geode Capital Management LLC now owns 900,932 shares of the company’s stock worth $40,861,000 after purchasing an additional 47,751 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Buckle by 1.7% during the second quarter. Bank of New York Mellon Corp now owns 532,522 shares of the company’s stock valued at $24,150,000 after acquiring an additional 9,118 shares in the last quarter. Intech Investment Management LLC raised its holdings in Buckle by 100.4% in the 2nd quarter. Intech Investment Management LLC now owns 101,543 shares of the company’s stock worth $4,605,000 after acquiring an additional 50,866 shares during the last quarter. Finally, Stevens Capital Partners bought a new position in Buckle during the 3rd quarter valued at about $3,604,000. 53.93% of the stock is currently owned by institutional investors and hedge funds.

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.