Northern Trust Corp Sells 6,311 Shares of Buckle, Inc. (The) $BKE

Key Points

• Northern Trust Corp has decreased its stake in Buckle, Inc. by 1.6%, now holding approximately 379,316 shares valued at $14.5 million.
• Insider transactions indicate significant sales, with Director James E. Shada selling 10,000 shares for $498,400 and other directors also reducing their positions.
• Buckle, Inc. reported a quarterly EPS of $0.89, surpassing estimates, with revenues increasing 8.3% year-over-year to $305.74 million.

Northern Trust Corp reduced its holdings in shares of Buckle, Inc. (The) (NYSE:BKE - Free Report) by 1.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 379,316 shares of the company's stock after selling 6,311 shares during the period. Northern Trust Corp owned about 0.74% of Buckle worth $14,535,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. SummerHaven Investment Management LLC boosted its position in Buckle by 1.4% during the first quarter. SummerHaven Investment Management LLC now owns 21,348 shares of the company's stock worth $818,000 after acquiring an additional 302 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Buckle by 3.4% in the 4th 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 during the period. Optimist Retirement Group LLC raised its position in shares of Buckle by 6.1% during the 1st quarter. Optimist Retirement Group LLC now owns 10,477 shares of the company's stock worth $401,000 after buying an additional 605 shares in the last quarter. Caption Management LLC purchased a new position in shares of Buckle in the fourth quarter worth approximately $36,000. Finally, Illinois Municipal Retirement Fund boosted its holdings in shares of Buckle by 5.7% during the first quarter. Illinois Municipal Retirement Fund now owns 16,566 shares of the company's stock worth $635,000 after purchasing an additional 887 shares during the period. Institutional investors and hedge funds own 53.93% of the company's stock.

Insider Buying and Selling

In related news, Director James E. Shada sold 10,000 shares of the firm's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $49.84, for a total transaction of $498,400.00. Following the transaction, the director owned 85,352 shares of the company's stock, valued at $4,253,943.68. This trade represents a 10.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Dennis H. Nelson sold 20,453 shares of the stock in a transaction dated Wednesday, June 11th. The stock was sold at an average price of $43.52, for a total value of $890,114.56. Following the transaction, the chief executive officer owned 1,655,204 shares in the company, valued at $72,034,478.08. This trade represents a 1.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 31,953 shares of company stock valued at $1,472,125. 39.80% of the stock is owned by company insiders.

Buckle Stock Up 0.5%

Shares of NYSE BKE traded up $0.27 during trading hours on Monday, reaching $59.54. 231,417 shares of the stock traded hands, compared to its average volume of 540,484. The company's 50-day simple moving average is $51.85 and its two-hundred day simple moving average is $43.56. The company has a market capitalization of $3.05 billion, a P/E ratio of 14.85 and a beta of 1.02. Buckle, Inc. has a 52-week low of $33.12 and a 52-week high of $60.55.

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

Wall Street Analyst Weigh In

BKE has been the topic of several analyst reports. Wall Street Zen raised shares of Buckle from a "hold" rating to a "buy" rating in a report on Saturday. UBS Group raised their target price on shares of Buckle from $51.00 to $54.00 and gave the stock a "neutral" rating in a report on Monday, August 25th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $54.00.

Buckle 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.