Buckle (NYSE:BKE) Sets New 1-Year Low – Time to Sell?

The Buckle, Inc. (NYSE:BKE)’s share price reached a new 52-week low on Thursday . The stock traded as low as $33.95 and last traded at $34.04, with a volume of 312559 shares trading hands. The stock had previously closed at $38.91.

Wall Street Analysts Forecast Growth

BKE has been the subject of a number of recent analyst reports. StockNews.com downgraded shares of Buckle from a “buy” rating to a “hold” rating in a report on Tuesday, February 25th. UBS Group decreased their price target on Buckle from $43.00 to $41.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 18th.

Buckle Price Performance

The company has a market cap of $1.76 billion, a PE ratio of 8.85 and a beta of 1.17. The company’s 50 day simple moving average is $41.39 and its two-hundred day simple moving average is $45.29.

Buckle (NYSE:BKE) last announced its earnings results on Friday, March 14th. The company reported $1.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.09. Buckle had a return on equity of 44.11% and a net margin of 16.21%. The company had revenue of $379.20 million for the quarter, compared to analyst estimates of $378.97 million. During the same quarter in the previous year, the company earned $1.59 earnings per share. The firm’s quarterly revenue was down .8% compared to the same quarter last year.

Buckle Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 29th. Shareholders of record on Tuesday, April 15th will be given a $0.35 dividend. The ex-dividend date of this dividend is Tuesday, April 15th. This represents a $1.40 annualized dividend and a yield of 4.03%. Buckle’s dividend payout ratio is presently 36.08%.

Insiders Place Their Bets

In related news, CEO Dennis H. Nelson sold 15,340 shares of Buckle stock in a transaction on Monday, March 17th. The stock was sold at an average price of $36.32, for a total value of $557,148.80. Following the completion of the transaction, the chief executive officer now directly owns 1,647,695 shares in the company, valued at approximately $59,844,282.40. This trade represents a 0.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 92,269 shares of company stock worth $3,952,882 over the last 90 days. Corporate insiders own 39.80% of the company’s stock.

Institutional Investors Weigh In On Buckle

A number of hedge funds have recently bought and sold shares of the stock. FMR LLC increased its stake in shares of Buckle by 187.1% during the third quarter. FMR LLC now owns 3,824 shares of the company’s stock worth $168,000 after buying an additional 2,492 shares during the period. Glenmede Trust Co. NA acquired a new position in Buckle during the 3rd quarter worth approximately $207,000. Holocene Advisors LP purchased a new stake in shares of Buckle in the 3rd quarter valued at approximately $1,330,000. HighTower Advisors LLC acquired a new stake in shares of Buckle in the 3rd quarter valued at $214,000. Finally, Quarry LP raised its holdings in shares of Buckle by 60.9% in the 3rd quarter. Quarry LP now owns 938 shares of the company’s stock valued at $41,000 after purchasing an additional 355 shares in the last quarter. Institutional investors and hedge funds own 53.93% of the company’s stock.

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