Exchange Traded Concepts LLC Decreases Holdings in Buckle, Inc. (The) $BKE

Key Points

• Exchange Traded Concepts LLC reduced its stake in Buckle, Inc. by 10.6%, now owning a total of 42,544 shares worth approximately $1.93 million.
• Buckle reported a quarterly earnings per share (EPS) of $0.89, surpassing analysts' expectations of $0.83, with a revenue of $305.74 million—a year-over-year increase of 8.3%.
• The company declared a quarterly dividend of $0.35 per share, resulting in an annualized yield of 2.3%, with a payout ratio of 35%.

Exchange Traded Concepts LLC decreased its holdings in Buckle, Inc. (The) (NYSE:BKE - Free Report) by 10.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 42,544 shares of the company's stock after selling 5,066 shares during the period. Exchange Traded Concepts LLC owned about 0.08% of Buckle worth $1,929,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. SummerHaven Investment Management LLC raised its holdings in shares of Buckle by 1.4% during the first quarter. SummerHaven Investment Management LLC now owns 21,348 shares of the company's stock valued at $818,000 after purchasing an additional 302 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Buckle by 3.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 17,566 shares of the company's stock worth $893,000 after acquiring an additional 571 shares in the last quarter. Optimist Retirement Group LLC grew its holdings in shares of Buckle by 6.1% during the first quarter. Optimist Retirement Group LLC now owns 10,477 shares of the company's stock valued at $401,000 after buying an additional 605 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Buckle by 1,928.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 649 shares of the company's stock worth $25,000 after acquiring an additional 617 shares during the last quarter. Finally, Rafferty Asset Management LLC boosted its stake in Buckle by 8.7% during the 1st quarter. Rafferty Asset Management LLC now owns 8,540 shares of the company's stock valued at $327,000 after purchasing an additional 682 shares during the last quarter. Hedge funds and other institutional investors own 53.93% of the company's stock.

Buckle Stock Performance

NYSE BKE traded down $0.70 on Monday, hitting $60.00. 513,658 shares of the stock traded hands, compared to its average volume of 586,043. The firm has a market capitalization of $3.07 billion, a price-to-earnings ratio of 15.00 and a beta of 1.02. The business's fifty day moving average is $54.75 and its two-hundred day moving average is $45.18. Buckle, Inc. has a 12 month low of $33.12 and a 12 month high of $61.69.

Buckle (NYSE:BKE - Get Free Report) last posted its quarterly earnings results on Friday, August 22nd. The company reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.06. The company had revenue of $305.74 million during the quarter, compared to the consensus estimate of $292.61 million. Buckle had a return on equity of 43.97% and a net margin of 16.12%.The firm's quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.78 EPS.

Buckle Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 29th. Investors of record on Wednesday, October 15th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Wednesday, October 15th. This represents a $1.40 annualized dividend and a yield of 2.3%. Buckle's dividend payout ratio (DPR) is 35.00%.

Analysts Set New Price Targets

Several analysts have recently commented on BKE shares. UBS Group increased their price objective on Buckle from $51.00 to $54.00 and gave the stock a "neutral" rating in a research note on Monday, August 25th. Wall Street Zen upgraded Buckle from a "hold" rating to a "buy" rating in a research note on Saturday, September 6th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $54.00.

Insider Buying and Selling at Buckle

In other Buckle news, Director James E. Shada sold 20,000 shares of the business's stock in a transaction on Friday, September 5th. The shares were sold at an average price of $59.49, for a total transaction of $1,189,800.00. Following the sale, the director owned 55,352 shares of the company's stock, valued at $3,292,890.48. The trade was a 26.54% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kari G. Smith sold 20,000 shares of the firm's stock in a transaction on Friday, September 5th. The stock was sold at an average price of $59.36, for a total value of $1,187,200.00. Following the completion of the transaction, the executive vice president directly owned 150,354 shares of the company's stock, valued at $8,925,013.44. The trade was a 11.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 57,500 shares of company stock valued at $3,320,030 over the last 90 days. 39.80% of the stock is currently owned by corporate insiders.

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.