Buckle (NYSE:BKE) Hits New 12-Month Low - Here's Why

The Buckle, Inc. (NYSE:BKE - Get Free Report)'s share price reached a new 52-week low on Wednesday . The stock traded as low as $34.04 and last traded at $34.77, with a volume of 306177 shares changing hands. The stock had previously closed at $35.04.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on BKE shares. UBS Group cut their price target on Buckle from $43.00 to $41.00 and set a "neutral" rating for the company in a research note on Tuesday, March 18th. StockNews.com cut shares of Buckle from a "buy" rating to a "hold" rating in a research report on Tuesday, February 25th.

Buckle Trading Up 2.2 %

The business has a 50 day moving average of $36.69 and a 200-day moving average of $43.92. The stock has a market cap of $1.84 billion, a PE ratio of 9.12 and a beta of 0.94.

Buckle (NYSE:BKE - Get Free Report) last posted its quarterly earnings data on Friday, March 14th. The company reported $1.53 EPS for the quarter, beating analysts' consensus estimates of $1.44 by $0.09. Buckle had a return on equity of 44.11% and a net margin of 16.21%. The business had revenue of $379.20 million for the quarter, compared to analyst estimates of $378.97 million. During the same quarter last year, the company earned $1.59 earnings per share. The business's revenue for the quarter was down .8% compared to the same quarter last year.

Buckle Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 29th. Investors of record on Tuesday, April 15th were paid a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.90%. The ex-dividend date of this dividend was Tuesday, April 15th. Buckle's payout ratio is 36.08%.

Insider Buying and Selling

In other Buckle news, CEO Dennis H. Nelson sold 20,453 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $43.42, for a total transaction of $888,069.26. Following the transaction, the chief executive officer now owns 1,698,828 shares of the company's stock, valued at $73,763,111.76. This represents a 1.19 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Over the last 90 days, insiders have sold 76,011 shares of company stock worth $3,047,788. 39.80% of the stock is owned by insiders.

Hedge Funds Weigh In On Buckle

Several institutional investors have recently added to or reduced their stakes in the business. Balyasny Asset Management L.P. boosted its position in shares of Buckle by 515.3% in the fourth quarter. Balyasny Asset Management L.P. now owns 294,953 shares of the company's stock worth $14,987,000 after acquiring an additional 247,019 shares during the last quarter. Nuveen Asset Management LLC raised its stake in Buckle by 180.6% during the fourth quarter. Nuveen Asset Management LLC now owns 284,713 shares of the company's stock worth $14,466,000 after purchasing an additional 183,257 shares during the period. Teacher Retirement System of Texas boosted its holdings in shares of Buckle by 442.8% in the 4th quarter. Teacher Retirement System of Texas now owns 190,450 shares of the company's stock valued at $9,677,000 after purchasing an additional 155,366 shares during the last quarter. First Trust Advisors LP grew its stake in shares of Buckle by 9.0% during the 4th quarter. First Trust Advisors LP now owns 1,663,407 shares of the company's stock valued at $84,518,000 after buying an additional 137,972 shares during the period. Finally, American Century Companies Inc. increased its holdings in shares of Buckle by 12.0% during the 4th quarter. American Century Companies Inc. now owns 937,525 shares of the company's stock worth $47,636,000 after buying an additional 100,173 shares during the last quarter. 53.93% of the stock is currently owned by institutional investors and hedge funds.

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.