Buckle (NYSE:BKE) Shares Down 3.5% on Analyst Downgrade

The Buckle, Inc. (NYSE:BKE - Get Free Report) shares traded down 3.5% on Wednesday after UBS Group lowered their price target on the stock from $34.00 to $32.00. UBS Group currently has a sell rating on the stock. Buckle traded as low as $37.76 and last traded at $37.88. 34,497 shares traded hands during trading, a decline of 92% from the average session volume of 424,539 shares. The stock had previously closed at $39.24.

Separately, StockNews.com upgraded Buckle from a "hold" rating to a "buy" rating in a research report on Monday, April 15th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Denali Advisors LLC grew its holdings in shares of Buckle by 192.6% during the fourth quarter. Denali Advisors LLC now owns 111,250 shares of the company's stock worth $5,287,000 after purchasing an additional 73,232 shares during the last quarter. Asset Management One Co. Ltd. bought a new stake in shares of Buckle during the fourth quarter worth about $1,891,000. Pacer Advisors Inc. boosted its holdings in Buckle by 33.5% in the fourth quarter. Pacer Advisors Inc. now owns 1,148,796 shares of the company's stock valued at $54,591,000 after acquiring an additional 288,056 shares during the last quarter. New York State Common Retirement Fund boosted its holdings in Buckle by 15.1% in the fourth quarter. New York State Common Retirement Fund now owns 226,544 shares of the company's stock valued at $10,765,000 after acquiring an additional 29,787 shares during the last quarter. Finally, Brandywine Global Investment Management LLC boosted its holdings in Buckle by 11.9% in the third quarter. Brandywine Global Investment Management LLC now owns 150,402 shares of the company's stock valued at $5,022,000 after acquiring an additional 16,016 shares during the last quarter. Institutional investors own 53.93% of the company's stock.

Buckle Price Performance

The company has a fifty day moving average of $38.15 and a 200 day moving average of $39.26. The firm has a market capitalization of $1.91 billion, a P/E ratio of 8.68 and a beta of 1.24.

Buckle (NYSE:BKE - Get Free Report) last issued its quarterly earnings results on Friday, March 15th. The company reported $1.59 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.15. Buckle had a return on equity of 50.88% and a net margin of 17.44%. The firm had revenue of $382.40 million for the quarter, compared to analyst estimates of $383.63 million. During the same period in the previous year, the firm earned $1.76 earnings per share. The company's revenue was down 4.8% compared to the same quarter last year.

Buckle Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 12th were paid a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 3.73%. The ex-dividend date was Thursday, April 11th. Buckle's dividend payout ratio (DPR) is presently 31.75%.

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.

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