The Buckle, Inc. (NYSE:BKE) Sees Significant Decrease in Short Interest

The Buckle, Inc. (NYSE:BKE) was the target of a significant drop in short interest during the month of August. As of August 31st, there was short interest totalling 2,820,000 shares, a drop of 7.8% from the August 15th total of 3,060,000 shares. Approximately 9.2% of the company’s shares are short sold. Based on an average daily volume of 382,700 shares, the days-to-cover ratio is currently 7.4 days.

Buckle Stock Down 1.1 %

BKE opened at $44.05 on Thursday. Buckle has a 52-week low of $30.31 and a 52-week high of $48.15. The firm has a market capitalization of $2.24 billion, a P/E ratio of 10.39 and a beta of 1.13. The firm’s 50 day moving average is $41.18 and its 200-day moving average is $38.87.

Buckle (NYSE:BKE) last posted its quarterly earnings data on Friday, August 23rd. The company reported $0.78 earnings per share for the quarter. Buckle had a net margin of 16.69% and a return on equity of 46.17%. The company had revenue of $282.39 million during the quarter.

Buckle Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be paid a dividend of $0.35 per share. The ex-dividend date is Friday, October 11th. This represents a $1.40 dividend on an annualized basis and a yield of 3.18%. Buckle’s dividend payout ratio (DPR) is presently 33.02%.

Insider Transactions at Buckle

In related news, CEO Dennis H. Nelson sold 24,666 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $42.44, for a total value of $1,046,825.04. Following the completion of the transaction, the chief executive officer now directly owns 1,924,811 shares in the company, valued at $81,688,978.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Buckle news, SVP Brett P. Milkie sold 16,000 shares of Buckle stock in a transaction on Friday, September 6th. The shares were sold at an average price of $41.35, for a total value of $661,600.00. Following the transaction, the senior vice president now owns 80,170 shares in the company, valued at approximately $3,315,029.50. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Dennis H. Nelson sold 24,666 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $42.44, for a total transaction of $1,046,825.04. Following the sale, the chief executive officer now directly owns 1,924,811 shares of the company’s stock, valued at $81,688,978.84. The disclosure for this sale can be found here. Insiders have sold 100,346 shares of company stock worth $4,126,478 over the last quarter. 39.80% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Buckle

Several hedge funds and other institutional investors have recently bought and sold shares of BKE. BNP Paribas Financial Markets lifted its position in shares of Buckle by 52.2% during the fourth quarter. BNP Paribas Financial Markets now owns 66,025 shares of the company’s stock worth $3,138,000 after purchasing an additional 22,638 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Buckle by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,266,360 shares of the company’s stock worth $60,179,000 after acquiring an additional 14,079 shares during the period. Quadrant Capital Group LLC grew its position in Buckle by 527.4% in the 4th quarter. Quadrant Capital Group LLC now owns 985 shares of the company’s stock valued at $47,000 after buying an additional 828 shares in the last quarter. Panagora Asset Management Inc. boosted its holdings in shares of Buckle by 119.2% in the fourth quarter. Panagora Asset Management Inc. now owns 74,063 shares of the company’s stock valued at $3,519,000 after acquiring an additional 40,279 shares in the last quarter. Finally, Norges Bank bought a new position in Buckle during the 4th quarter valued at $9,828,000. 53.93% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on BKE shares. UBS Group cut their price objective on Buckle from $32.00 to $31.00 and set a “sell” rating on the stock in a report on Monday, August 26th. StockNews.com lowered shares of Buckle from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd.

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.