Buckle Inc Shares Drop 8.2% Following December Same Store Sales Report (NYSE:BKE)

Buckle’s (NYSE:BKE) same store sales fell 3.6% during the month of December. Buckle’s stock fell by 8.2% in the first day of trading following the report.

Several equities research analysts have recently weighed in on BKE shares. Zacks Investment Research raised Buckle from a “sell” rating to a “buy” rating and set a $18.00 price objective for the company in a report on Wednesday, November 1st. ValuEngine raised Buckle from a “buy” rating to a “strong-buy” rating in a report on Friday, December 1st.

In related news, SVP Brett P. Milkie sold 1,500 shares of the stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $21.02, for a total transaction of $31,530.00. Following the completion of the sale, the senior vice president now directly owns 32,070 shares of the company’s stock, valued at $674,111.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert Erle Campbell sold 2,000 shares of the stock in a transaction on Monday, November 20th. The stock was sold at an average price of $21.00, for a total value of $42,000.00. Following the sale, the director now directly owns 31,964 shares of the company’s stock, valued at $671,244. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 7,600 shares of company stock valued at $138,925. Corporate insiders own 41.70% of the company’s stock.

Shares of Buckle (NYSE:BKE) opened at $20.95 on Friday. Buckle has a fifty-two week low of $13.50 and a fifty-two week high of $25.11. The company has a market capitalization of $1,050.09, a price-to-earnings ratio of 12.43 and a beta of 1.09.

Buckle (NYSE:BKE) last released its earnings results on Friday, November 17th. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.40 by $0.01. Buckle had a return on equity of 19.13% and a net margin of 9.17%. The company had revenue of $224.30 million during the quarter, compared to the consensus estimate of $224.12 million. During the same quarter last year, the company earned $0.49 earnings per share. Buckle’s quarterly revenue was down 6.2% compared to the same quarter last year. research analysts anticipate that Buckle will post 1.74 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, January 26th. Stockholders of record on Friday, January 12th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.77%. The ex-dividend date is Thursday, January 11th. Buckle’s dividend payout ratio is currently 57.80%.

Several hedge funds have recently made changes to their positions in BKE. Teachers Advisors LLC increased its position in shares of Buckle by 7.6% in the first quarter. Teachers Advisors LLC now owns 50,419 shares of the company’s stock valued at $938,000 after buying an additional 3,572 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its position in shares of Buckle by 4.6% in the second quarter. Municipal Employees Retirement System of Michigan now owns 6,650 shares of the company’s stock valued at $118,000 after buying an additional 290 shares in the last quarter. Schwab Charles Investment Management Inc. increased its position in shares of Buckle by 12.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 332,050 shares of the company’s stock valued at $5,911,000 after buying an additional 36,651 shares in the last quarter. Arizona State Retirement System increased its position in shares of Buckle by 0.7% in the second quarter. Arizona State Retirement System now owns 14,779 shares of the company’s stock valued at $263,000 after buying an additional 100 shares in the last quarter. Finally, Rhumbline Advisers increased its position in shares of Buckle by 1.1% in the second quarter. Rhumbline Advisers now owns 94,785 shares of the company’s stock valued at $1,687,000 after buying an additional 1,056 shares in the last quarter. Institutional investors and hedge funds own 59.65% of the company’s stock.

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About Buckle

The Buckle, Inc is a retailer of casual apparel, footwear and accessories for young men and women. As of January 28, 2017, the Company operated 467 retail stores in 44 states throughout the United States under the names Buckle and The Buckle. The Company markets a selection of brand name casual apparel, including denims, other casual bottoms, tops, sportswear, outerwear, accessories and footwear.

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