Buckle Inc Stock Falls 7.4% Following October Same-Store Sales Report (NYSE:BKE)

Buckle’s (NYSE:BKE) same-store sales fell 2.4% in the month of October. Buckle’s shares dropped by 7.4% in the first day of trading following the report.

A number of equities research analysts recently weighed in on BKE shares. Deutsche Bank upgraded Buckle from a “sell” rating to a “hold” rating and set a $19.00 price target on the stock in a report on Friday, November 2nd. Zacks Investment Research cut Buckle from a “hold” rating to a “sell” rating in a report on Monday, October 29th. Finally, ValuEngine cut Buckle from a “buy” rating to a “hold” rating in a report on Tuesday, October 2nd.

In related news, Director Michael E. Huss sold 1,688 shares of the company’s stock in a transaction that occurred on Friday, September 7th. The stock was sold at an average price of $22.63, for a total value of $38,199.44. Following the sale, the director now owns 17,062 shares in the company, valued at approximately $386,113.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Diane L. Applegate sold 4,000 shares of the company’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $22.50, for a total value of $90,000.00. Following the completion of the sale, the vice president now directly owns 27,500 shares in the company, valued at approximately $618,750. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,308 shares of company stock worth $141,102. Insiders own 41.80% of the company’s stock.

BKE stock opened at $21.74 on Friday. Buckle has a 1 year low of $17.80 and a 1 year high of $29.65. The company has a market capitalization of $1.10 billion, a P/E ratio of 11.75 and a beta of 0.79.

Buckle (NYSE:BKE) last posted its earnings results on Friday, August 24th. The company reported $0.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.01. Buckle had a return on equity of 23.39% and a net margin of 10.53%. The firm had revenue of $201.10 million for the quarter, compared to analyst estimates of $201.82 million. During the same quarter in the prior year, the company earned $0.24 EPS. Buckle’s revenue was up 2.8% on a year-over-year basis. As a group, equities analysts forecast that Buckle will post 1.89 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, October 26th. Investors of record on Friday, October 12th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date was Thursday, October 11th. Buckle’s payout ratio is currently 54.05%.

A number of hedge funds have recently bought and sold shares of the stock. Rafferty Asset Management LLC purchased a new stake in Buckle in the 3rd quarter valued at approximately $269,000. BBT Capital Management LLC purchased a new stake in Buckle in the 3rd quarter valued at approximately $872,000. BlackRock Inc. lifted its stake in Buckle by 3.7% in the 3rd quarter. BlackRock Inc. now owns 4,009,426 shares of the company’s stock valued at $92,418,000 after buying an additional 141,483 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Buckle by 4.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 811,449 shares of the company’s stock valued at $18,704,000 after buying an additional 32,972 shares in the last quarter. Finally, Prudential Financial Inc. lifted its stake in Buckle by 39.4% in the 3rd quarter. Prudential Financial Inc. now owns 577,654 shares of the company’s stock valued at $13,315,000 after buying an additional 163,380 shares in the last quarter. 70.33% of the stock is currently owned by hedge funds and other institutional investors.

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About Buckle

The Buckle, Inc operates as a retailer of casual apparel, footwear, and accessories for young men and women in the United States. It markets a selection of brand name casual apparel, including denims, other casual bottoms, tops, sportswear, outerwear, accessories, and footwear, as well as private label merchandise primarily comprising BKE, Buckle Black, BKE Boutique, Red by BKE, Daytrip denim, Gimmicks, Gilded Intent, Outpost Makers, Departwest, and Veece.

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