Buckle Inc Same Store Sales Down 0.8% in June (NYSE:BKE)

Buckle’s (NYSE:BKE) same store sales decreased by 0.8% during the month of June. Buckle’s shares dropped by 0.3% in the first full-day of trading following the report.

BKE has been the subject of a number of analyst reports. TheStreet lowered WESCO International from a “b-” rating to a “c+” rating in a research note on Friday, May 24th. ValuEngine raised Valmont Industries from a “sell” rating to a “hold” rating in a research note on Friday. Finally, Zacks Investment Research lowered ExlService from a “hold” rating to a “sell” rating in a research note on Wednesday, July 10th.

In other news, Director Robert Erle Campbell sold 2,000 shares of the stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $19.00, for a total transaction of $38,000.00. Following the completion of the sale, the director now owns 30,464 shares of the company’s stock, valued at $578,816. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 41.80% of the company’s stock.

NYSE:BKE opened at $19.14 on Tuesday. The stock has a market capitalization of $963.92 million, a price-to-earnings ratio of 9.72 and a beta of 0.74. Buckle has a fifty-two week low of $14.81 and a fifty-two week high of $29.65. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.58 and a current ratio of 2.30. The company’s 50 day moving average is $16.73.

Buckle (NYSE:BKE) last announced its quarterly earnings results on Friday, May 24th. The company reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.05). Buckle had a return on equity of 22.96% and a net margin of 10.47%. The business had revenue of $201.31 million during the quarter, compared to analysts’ expectations of $200.93 million. During the same period in the previous year, the business earned $0.38 EPS. The business’s revenue was down 1.8% compared to the same quarter last year. As a group, equities research analysts forecast that Buckle will post 1.8 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 12th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 5.22%. The ex-dividend date is Thursday, July 11th. Buckle’s payout ratio is 50.76%.

A number of hedge funds have recently made changes to their positions in BKE. Norges Bank purchased a new stake in Buckle in the fourth quarter worth $11,332,000. RK Asset Management LLC lifted its position in Buckle by 217.1% during the second quarter. RK Asset Management LLC now owns 369,868 shares of the company’s stock valued at $6,402,000 after buying an additional 253,225 shares during the period. BlackRock Inc. lifted its position in Buckle by 2.9% during the fourth quarter. BlackRock Inc. now owns 4,123,876 shares of the company’s stock valued at $79,756,000 after buying an additional 114,450 shares during the period. Bank of America Corp DE lifted its position in Buckle by 134.5% during the fourth quarter. Bank of America Corp DE now owns 79,239 shares of the company’s stock valued at $1,532,000 after buying an additional 45,448 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its position in Buckle by 4.3% during the first quarter. Robeco Institutional Asset Management B.V. now owns 1,097,781 shares of the company’s stock valued at $20,551,000 after buying an additional 44,900 shares during the period. 67.09% of the stock is owned by institutional investors.

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, FITZ + EDDI, Outpost Makers, Departwest, and Veece.

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