Buckle (NYSE:BKE) Trading Up 5.8% After Dividend Announcement

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Buckle Inc (NYSE:BKE) shares were up 5.8% on Monday following a dividend announcement from the company. The stock traded as high as $22.00 and last traded at $21.97. Approximately 477,880 shares traded hands during mid-day trading, a decline of 23% from the average daily volume of 621,313 shares. The stock had previously closed at $20.76.

The newly announced dividend which will be paid on Thursday, October 29th. Investors of record on Thursday, October 15th will be issued a $0.30 dividend. The ex-dividend date is Wednesday, October 14th. This represents a $1.20 dividend on an annualized basis and a yield of 5.46%.

A number of analysts recently weighed in on BKE shares. ValuEngine downgraded Buckle from a “hold” rating to a “sell” rating in a report on Tuesday, August 4th. Zacks Investment Research downgraded Buckle from a “buy” rating to a “hold” rating in a report on Wednesday, July 8th. Cfra downgraded Buckle from a “hold” rating to a “sell” rating and decreased their price objective for the company from $14.00 to $11.00 in a report on Tuesday, May 26th. Finally, TheStreet upgraded Buckle from a “c+” rating to a “b” rating in a report on Friday, September 11th.

The stock has a fifty day simple moving average of $18.26 and a two-hundred day simple moving average of $16.60. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 11.15 and a beta of 1.31.

Buckle (NYSE:BKE) last issued its quarterly earnings results on Friday, August 21st. The company reported $0.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.06 by $0.65. Buckle had a return on equity of 23.98% and a net margin of 11.60%. The firm had revenue of $216.00 million during the quarter, compared to the consensus estimate of $151.23 million. During the same period last year, the business posted $0.34 EPS. The business’s revenue was up 6.0% compared to the same quarter last year.

Institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC grew its holdings in Buckle by 4,565.9% during the 1st quarter. Tower Research Capital LLC TRC now owns 16,284 shares of the company’s stock worth $223,000 after acquiring an additional 15,935 shares during the period. SG Americas Securities LLC boosted its position in shares of Buckle by 39.9% during the 2nd quarter. SG Americas Securities LLC now owns 80,138 shares of the company’s stock worth $1,257,000 after purchasing an additional 22,861 shares in the last quarter. Sciencast Management LP bought a new position in shares of Buckle during the 2nd quarter worth about $162,000. CWM Advisors LLC bought a new position in shares of Buckle during the 1st quarter worth about $169,000. Finally, JPMorgan Chase & Co. boosted its position in shares of Buckle by 373.7% during the 1st quarter. JPMorgan Chase & Co. now owns 195,609 shares of the company’s stock worth $2,682,000 after purchasing an additional 154,316 shares in the last quarter. Hedge funds and other institutional investors own 62.47% of the company’s stock.

About Buckle (NYSE:BKE)

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, BKE Boutique, Red by BKE, Daytrip denim, Gimmicks, Gilded Intent, FITZ + EDDI, Outpost Makers, Departwest, and Veece.

Further Reading: Dividend Kings

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