Short Interest in The Buckle, Inc. (NYSE:BKE) Drops By 9.8%

The Buckle, Inc. (NYSE:BKE) was the recipient of a large drop in short interest in the month of July. As of July 31st, there was short interest totalling 3,030,000 shares, a drop of 9.8% from the July 15th total of 3,360,000 shares. Currently, 9.9% of the company’s stock are sold short. Based on an average daily trading volume, of 375,200 shares, the short-interest ratio is currently 8.1 days.

Buckle Stock Up 0.9 %

Shares of BKE traded up $0.37 during midday trading on Friday, reaching $42.91. 324,470 shares of the stock were exchanged, compared to its average volume of 409,130. Buckle has a twelve month low of $30.31 and a twelve month high of $48.15. The company has a market cap of $2.18 billion, a P/E ratio of 10.12 and a beta of 1.14. The stock’s 50 day simple moving average is $38.61 and its 200 day simple moving average is $38.43.

Buckle (NYSE:BKE) last posted its earnings results on Friday, May 24th. The company reported $0.69 earnings per share for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.05). Buckle had a return on equity of 48.21% and a net margin of 17.07%. The firm had revenue of $262.50 million for the quarter, compared to analyst estimates of $262.50 million. During the same period in the prior year, the business posted $0.86 EPS. The firm’s quarterly revenue was down 7.0% compared to the same quarter last year.

Buckle Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Friday, July 12th were paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend was Friday, July 12th. Buckle’s dividend payout ratio (DPR) is presently 33.02%.

Insiders Place Their Bets

In other Buckle news, Director John P. Peetz sold 2,500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $40.26, for a total transaction of $100,650.00. Following the sale, the director now directly owns 24,623 shares in the company, valued at approximately $991,321.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Dennis H. Nelson sold 15,340 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $37.80, for a total transaction of $579,852.00. Following the completion of the transaction, the chief executive officer now directly owns 1,950,377 shares of the company’s stock, valued at approximately $73,724,250.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John P. Peetz sold 2,500 shares of the firm’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $40.26, for a total transaction of $100,650.00. Following the completion of the transaction, the director now directly owns 24,623 shares of the company’s stock, valued at $991,321.98. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,227 shares of company stock worth $1,563,527. Company insiders own 39.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of BKE. Arizona State Retirement System raised its stake in Buckle by 6.3% in the fourth quarter. Arizona State Retirement System now owns 9,166 shares of the company’s stock valued at $436,000 after purchasing an additional 547 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in Buckle by 4.8% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,663 shares of the company’s stock valued at $839,000 after purchasing an additional 807 shares in the last quarter. Mutual of America Capital Management LLC acquired a new position in Buckle during the fourth quarter worth about $248,000. Louisiana State Employees Retirement System acquired a new position in Buckle during the fourth quarter worth about $708,000. Finally, Signaturefd LLC raised its stake in Buckle by 113.7% during the fourth quarter. Signaturefd LLC now owns 1,404 shares of the company’s stock worth $67,000 after acquiring an additional 747 shares in the last quarter. Institutional investors and hedge funds own 53.93% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. StockNews.com cut shares of Buckle from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. UBS Group reduced their price objective on shares of Buckle from $34.00 to $32.00 and set a “sell” rating for the company in a research report on Wednesday, May 15th.

Buckle Company Profile

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.