Buckle (NYSE:BKE) Sets New 12-Month High - Still a Buy?

Key Points

• Buckle's stock reached a new **52-week high** of **$54.25** during trading, closing at **$53.93** with a trading volume of **486,124** shares.
• The company reported **$0.70 earnings per share**, exceeding estimates and showing a **3.7% year-over-year revenue increase** of **$272.12 million**.
• Buckle announced a quarterly dividend of **$0.35**, yielding **2.6%**, with a payout ratio of **35.99%**.

Shares of Buckle, Inc. (The) (NYSE:BKE - Get Free Report) reached a new 52-week high during trading on Monday . The stock traded as high as $54.25 and last traded at $53.93, with a volume of 486124 shares changing hands. The stock had previously closed at $52.58.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on BKE shares. UBS Group reiterated a "neutral" rating and issued a $51.00 price target (up from $40.00) on shares of Buckle in a research report on Wednesday. Wall Street Zen upgraded shares of Buckle from a "hold" rating to a "buy" rating in a research report on Friday, May 23rd.

Buckle Price Performance

The stock's 50-day moving average is $48.14 and its 200-day moving average is $42.34. The stock has a market cap of $2.84 billion, a price-to-earnings ratio of 14.25 and a beta of 1.05.

Buckle (NYSE:BKE - Get Free Report) last announced its earnings results on Friday, May 23rd. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.65 by $0.05. Buckle had a net margin of 15.95% and a return on equity of 43.13%. The firm had revenue of $272.12 million for the quarter, compared to analyst estimates of $264.28 million. During the same quarter last year, the business earned $0.70 earnings per share. Buckle's revenue was up 3.7% compared to the same quarter last year.

Buckle Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 29th. Investors of record on Tuesday, July 15th were given a dividend of $0.35 per share. The ex-dividend date was Tuesday, July 15th. This represents a $1.40 dividend on an annualized basis and a yield of 2.5%. Buckle's dividend payout ratio (DPR) is 35.99%.

Insider Buying and Selling

In related news, Director James E. Shada sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $49.84, for a total transaction of $498,400.00. Following the sale, the director owned 85,352 shares in the company, valued at approximately $4,253,943.68. This trade represents a 10.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Dennis H. Nelson sold 20,453 shares of Buckle stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $43.52, for a total transaction of $890,114.56. Following the completion of the transaction, the chief executive officer owned 1,655,204 shares in the company, valued at approximately $72,034,478.08. This trade represents a 1.22% decrease in their position. The disclosure for this sale can be found here. 39.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Buckle

A number of hedge funds have recently made changes to their positions in the stock. Ameritas Investment Partners Inc. increased its stake in Buckle by 1.1% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 18,204 shares of the company's stock worth $826,000 after buying an additional 190 shares during the period. Franklin Resources Inc. grew its position in shares of Buckle by 0.9% during the 2nd quarter. Franklin Resources Inc. now owns 26,453 shares of the company's stock valued at $1,200,000 after buying an additional 230 shares during the last quarter. IFP Advisors Inc grew its position in shares of Buckle by 12.5% during the 2nd quarter. IFP Advisors Inc now owns 2,431 shares of the company's stock valued at $110,000 after buying an additional 270 shares during the last quarter. Bank of Montreal Can grew its position in shares of Buckle by 3.8% during the 2nd quarter. Bank of Montreal Can now owns 7,699 shares of the company's stock valued at $349,000 after buying an additional 282 shares during the last quarter. Finally, SummerHaven Investment Management LLC grew its position in shares of Buckle by 1.4% during the 1st quarter. SummerHaven Investment Management LLC now owns 21,348 shares of the company's stock valued at $818,000 after buying an additional 302 shares during the last quarter. Institutional investors and hedge funds own 53.93% of the company's stock.

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.