Rhumbline Advisers Reduces Stake in Buckle, Inc. (The) $BKE

Key Points

• Rhumbline Advisers reduced its stake in Buckle, Inc. by 21.0%, selling 25,670 shares and now owns 96,684 shares valued at approximately $3.7 million.
• Buckle reported $0.89 EPS for the last quarter, exceeding analyst estimates of $0.83, along with an 8.3% increase in revenue from the previous year.
• The company also declared a quarterly dividend of $0.35 per share, equating to an annualized yield of 2.4%, with the ex-dividend date on October 15th.

Rhumbline Advisers lessened its stake in shares of Buckle, Inc. (The) (NYSE:BKE - Free Report) by 21.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 96,684 shares of the company's stock after selling 25,670 shares during the quarter. Rhumbline Advisers owned about 0.19% of Buckle worth $3,705,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Charles Schwab Investment Management Inc. boosted its stake in Buckle by 5.8% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,360,826 shares of the company's stock valued at $52,147,000 after acquiring an additional 74,614 shares during the period. American Century Companies Inc. lifted its position in Buckle by 13.5% during the 1st quarter. American Century Companies Inc. now owns 1,063,856 shares of the company's stock worth $40,767,000 after acquiring an additional 126,331 shares during the last quarter. New Vernon Capital Holdings II LLC grew its stake in Buckle by 3,732.0% during the first quarter. New Vernon Capital Holdings II LLC now owns 671,251 shares of the company's stock worth $25,722,000 after buying an additional 653,734 shares during the last quarter. Victory Capital Management Inc. grew its stake in shares of Buckle by 10.0% during the first quarter. Victory Capital Management Inc. now owns 645,958 shares of the company's stock valued at $24,753,000 after purchasing an additional 58,785 shares during the last quarter. Finally, Impala Asset Management LLC boosted its stake in Buckle by 37.1% in the first quarter. Impala Asset Management LLC now owns 432,080 shares of the company's stock valued at $16,571,000 after acquiring an additional 116,833 shares during the last quarter. 53.93% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director James E. Shada 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 $59.49, for a total transaction of $1,189,800.00. Following the transaction, the director owned 55,352 shares in the company, valued at approximately $3,292,890.48. This trade represents a 26.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Kari G. Smith sold 20,000 shares of the firm's stock in a transaction dated 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 owned 150,354 shares of the company's stock, valued at approximately $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. In the last ninety days, insiders have sold 57,500 shares of company stock worth $3,320,030. 39.00% of the stock is currently owned by company insiders.

Buckle Trading Down 0.5%

Shares of BKE stock traded down $0.32 during trading hours on Friday, reaching $60.85. The stock had a trading volume of 1,573,368 shares, compared to its average volume of 559,146. Buckle, Inc. has a 12 month low of $33.12 and a 12 month high of $61.69. The firm has a market capitalization of $3.11 billion, a PE ratio of 15.21 and a beta of 1.02. The stock's fifty day simple moving average is $54.52 and its 200 day simple moving average is $44.93.

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

Buckle Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 29th. Stockholders of record on Wednesday, October 15th will be given a dividend of $0.35 per share. This represents a $1.40 dividend on an annualized basis and a dividend yield of 2.3%. The ex-dividend date is Wednesday, October 15th. Buckle's dividend payout ratio is currently 35.00%.

Analyst Ratings Changes

Several equities research analysts have issued reports on BKE shares. Wall Street Zen upgraded shares of Buckle from a "hold" rating to a "buy" rating in a research note on Saturday, September 6th. UBS Group upped their price target on shares of Buckle from $51.00 to $54.00 and gave the company a "neutral" rating in a research report on Monday, August 25th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Buckle presently has a consensus rating of "Hold" and an average price target of $54.00.

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.