Short Interest in The Buckle, Inc. (NYSE:BKE) Decreases By 11.0%

The Buckle, Inc. (NYSE:BKE) was the target of a significant decrease in short interest in the month of October. As of October 31st, there was short interest totalling 2,760,000 shares, a decrease of 11.0% from the October 15th total of 3,100,000 shares. Based on an average trading volume of 378,800 shares, the days-to-cover ratio is presently 7.3 days. Approximately 9.0% of the shares of the company are sold short.

Insider Activity

In related news, CEO Dennis H. Nelson sold 24,666 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $42.44, for a total transaction of $1,046,825.04. Following the completion of the sale, the chief executive officer now directly owns 1,924,811 shares of the company’s stock, valued at $81,688,978.84. This trade represents a 1.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Brett P. Milkie sold 16,000 shares of the stock in a transaction on Friday, September 6th. The stock was sold at an average price of $41.35, for a total value of $661,600.00. Following the sale, the senior vice president now directly owns 80,170 shares of the company’s stock, valued at approximately $3,315,029.50. This represents a 16.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 142,931 shares of company stock valued at $6,080,458. 39.80% of the stock is currently owned by company insiders.

Institutional Trading of Buckle

A number of hedge funds have recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its stake in shares of Buckle by 52.0% in the 3rd quarter. Blue Trust Inc. now owns 789 shares of the company’s stock valued at $35,000 after purchasing an additional 270 shares in the last quarter. Quarry LP raised its position in shares of Buckle by 60.9% during the 3rd quarter. Quarry LP now owns 938 shares of the company’s stock valued at $41,000 after acquiring an additional 355 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in shares of Buckle during the 1st quarter valued at approximately $70,000. Quest Partners LLC acquired a new stake in shares of Buckle during the 3rd quarter valued at approximately $86,000. Finally, CWM LLC raised its position in shares of Buckle by 119.9% during the 2nd quarter. CWM LLC now owns 2,010 shares of the company’s stock valued at $74,000 after acquiring an additional 1,096 shares in the last quarter. 53.93% of the stock is owned by institutional investors and hedge funds.

Buckle Trading Down 1.7 %

Shares of BKE stock traded down $0.82 during mid-day trading on Friday, reaching $47.92. The stock had a trading volume of 278,056 shares, compared to its average volume of 358,728. Buckle has a 12-month low of $34.63 and a 12-month high of $49.78. The company has a market cap of $2.43 billion, a P/E ratio of 11.69 and a beta of 1.14. The business has a 50-day simple moving average of $43.63 and a 200 day simple moving average of $40.54.

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

Buckle Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 11th were paid a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date of this dividend was Friday, October 11th. Buckle’s payout ratio is currently 34.15%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on BKE shares. UBS Group raised Buckle from a “sell” rating to a “neutral” rating and increased their price target for the stock from $31.00 to $46.00 in a report on Tuesday, November 12th. StockNews.com upgraded Buckle from a “hold” rating to a “buy” rating in a research report on Friday, November 8th.

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.