Palisade Capital Management LP Reduces Position in Buckle, Inc. (The) (NYSE:BKE)

Palisade Capital Management LP reduced its stake in Buckle, Inc. (The) (NYSE:BKE - Free Report) by 3.1% during the first quarter, according to its most recent filing with the SEC. The fund owned 564,900 shares of the company's stock after selling 18,197 shares during the quarter. Palisade Capital Management LP owned 1.10% of Buckle worth $21,647,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. First Trust Advisors LP lifted its holdings in Buckle by 9.0% during the fourth quarter. First Trust Advisors LP now owns 1,663,407 shares of the company's stock valued at $84,518,000 after purchasing an additional 137,972 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Buckle by 0.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,357,095 shares of the company's stock valued at $68,957,000 after purchasing an additional 10,178 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Buckle by 5.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,286,212 shares of the company's stock valued at $65,352,000 after purchasing an additional 69,258 shares during the last quarter. American Century Companies Inc. lifted its holdings in Buckle by 12.0% during the fourth quarter. American Century Companies Inc. now owns 937,525 shares of the company's stock valued at $47,636,000 after purchasing an additional 100,173 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Buckle by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 815,688 shares of the company's stock valued at $41,454,000 after buying an additional 16,610 shares during the period. 53.93% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Buckle news, CEO Dennis H. Nelson sold 43,915 shares of the stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $39.72, for a total transaction of $1,744,303.80. Following the transaction, the chief executive officer directly owned 1,706,335 shares in the company, valued at $67,775,626.20. This trade represents a 2.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 99,471 shares of company stock worth $4,039,802 in the last quarter. 39.80% of the stock is owned by company insiders.

Buckle Price Performance

Shares of BKE traded down $0.01 during midday trading on Friday, hitting $47.63. 157,859 shares of the company traded hands, compared to its average volume of 481,699. The stock has a 50-day moving average of $41.80 and a 200-day moving average of $42.17. Buckle, Inc. has a one year low of $33.12 and a one year high of $54.25. The firm has a market cap of $2.44 billion, a P/E ratio of 12.24 and a beta of 1.03.

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

Buckle Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 29th. Shareholders of record on Tuesday, July 15th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a yield of 2.94%. The ex-dividend date of this dividend is Tuesday, July 15th. Buckle's payout ratio is currently 35.99%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on BKE. Wall Street Zen upgraded Buckle from a "hold" rating to a "buy" rating in a research report on Friday, May 23rd. UBS Group reiterated a "neutral" rating on shares of Buckle in a research report on Wednesday, May 14th.

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.