Buckle (NYSE:BKE) Posts Quarterly Earnings Results, Beats Estimates By $0.02 EPS

Buckle (NYSE:BKE) reported quarterly earnings of $0.96 per share, beating estimates by $0.02. Revenue reached $320.84 million, surpassing expectations of $317.97 million, with a 9.3% year-over-year increase. The company announced a quarterly dividend of $0.35 per share. Insider transactions included significant stock sales by SVP Brett P. Milkie and Director James E. Shada. Hedge funds have increased their positions in Buckle, with institutional investors owning 53.93% of the stock.

Buckle (NYSE:BKE - Get Free Report) released its quarterly earnings results on Friday. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.94 by $0.02, Zacks reports. The business had revenue of $320.84 million for the quarter, compared to analyst estimates of $317.97 million. Buckle had a net margin of 16.12% and a return on equity of 43.97%. The firm's revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.88 earnings per share.

Buckle Trading Down 1.1%

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BKE stock traded down $0.62 during mid-day trading on Friday, hitting $54.40. The stock had a trading volume of 677,790 shares, compared to its average volume of 528,800. Buckle has a 1-year low of $33.12 and a 1-year high of $61.69. The company has a fifty day moving average of $56.66 and a 200 day moving average of $51.17. The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of 13.60 and a beta of 1.12.

Buckle Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 29th. Shareholders of record on Wednesday, October 15th were paid a $0.35 dividend. The ex-dividend date was Wednesday, October 15th. This represents a $1.40 dividend on an annualized basis and a yield of 2.6%. Buckle's payout ratio is 35.00%.

Insider Transactions at Buckle

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In related news, SVP Brett P. Milkie sold 6,000 shares of the firm's stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $60.17, for a total transaction of $361,020.00. Following the transaction, the senior vice president owned 89,570 shares of the company's stock, valued at approximately $5,389,426.90. This trade represents a 6.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director James E. Shada sold 20,000 shares of Buckle stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $59.49, for a total transaction of $1,189,800.00. Following the completion of the sale, the director owned 55,352 shares of the company's stock, valued at $3,292,890.48. This trade represents a 26.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 47,500 shares of company stock worth $2,821,630. Corporate insiders own 39.00% of the company's stock.

Hedge Funds Weigh In On Buckle

Several hedge funds have recently bought and sold shares of BKE. Two Sigma Investments LP lifted its position in shares of Buckle by 3,695.1% in the third quarter. Two Sigma Investments LP now owns 242,510 shares of the company's stock worth $14,226,000 after buying an additional 236,120 shares during the last quarter. Qube Research & Technologies Ltd acquired a new position in shares of Buckle during the 3rd quarter valued at about $10,393,000. Squarepoint Ops LLC raised its stake in shares of Buckle by 322.4% in the 2nd quarter. Squarepoint Ops LLC now owns 166,626 shares of the company's stock valued at $7,556,000 after acquiring an additional 127,177 shares in the last quarter. AQR Capital Management LLC lifted its holdings in Buckle by 119.3% in the 2nd quarter. AQR Capital Management LLC now owns 207,057 shares of the company's stock worth $9,390,000 after purchasing an additional 112,649 shares during the last quarter. Finally, Bank of America Corp DE lifted its holdings in Buckle by 74.9% in the 2nd quarter. Bank of America Corp DE now owns 245,140 shares of the company's stock worth $11,117,000 after purchasing an additional 105,017 shares during the last quarter. 53.93% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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BKE has been the topic of several recent analyst reports. Weiss Ratings reissued a "hold (c+)" rating on shares of Buckle in a research note on Wednesday, October 8th. UBS Group lifted their price target on Buckle from $54.00 to $55.00 and gave the company a "neutral" rating in a report on Monday, November 10th. Finally, Wall Street Zen raised Buckle from a "hold" rating to a "buy" rating in a research report on Saturday, September 6th. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, Buckle currently has a consensus rating of "Hold" and an average target price of $55.00.

Read Our Latest Research Report on BKE

Buckle Company Profile

(Get Free Report)

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, Salvage, Red by BKE, Daytrip, Gimmicks, Gilded Intent, FITZ + EDDI, Willow & Root, Outpost Makers, Departwest, Sterling & Stitch, Reclaim, BKE Vintage, Nova Industries, J.B.

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