The Buckle, Inc. (NYSE:BKE) Sees Significant Decrease in Short Interest

The Buckle, Inc. (NYSE:BKE) was the recipient of a large decrease in short interest in August. As of August 31st, there was short interest totalling 2,820,000 shares, a decrease of 7.8% from the August 15th total of 3,060,000 shares. Approximately 9.2% of the company’s stock are sold short. Based on an average trading volume of 382,700 shares, the short-interest ratio is presently 7.4 days.

Buckle Price Performance

Shares of NYSE:BKE traded down $0.44 during trading on Wednesday, hitting $44.08. 385,602 shares of the company’s stock were exchanged, compared to its average volume of 404,613. The business’s 50-day simple moving average is $41.18 and its 200 day simple moving average is $38.87. The company has a market cap of $2.24 billion, a price-to-earnings ratio of 10.44 and a beta of 1.13. Buckle has a 52-week low of $30.31 and a 52-week high of $48.15.

Buckle (NYSE:BKE) last announced its quarterly earnings data on Friday, August 23rd. The company reported $0.78 earnings per share (EPS) for the quarter. Buckle had a net margin of 16.69% and a return on equity of 46.17%. The business had revenue of $282.39 million during the quarter.

Buckle Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 11th will be issued a dividend of $0.35 per share. This represents a $1.40 annualized dividend and a dividend yield of 3.18%. The ex-dividend date is Friday, October 11th. Buckle’s dividend payout ratio (DPR) is presently 33.02%.

Wall Street Analyst Weigh In

BKE has been the topic of a number of research reports. StockNews.com downgraded shares of Buckle from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. UBS Group dropped their target price on shares of Buckle from $32.00 to $31.00 and set a “sell” rating for the company in a report on Monday, August 26th.

Insider Transactions at Buckle

In other news, CEO Dennis H. Nelson sold 15,340 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $37.80, for a total transaction of $579,852.00. Following the sale, the chief executive officer now owns 1,950,377 shares in the company, valued at approximately $73,724,250.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Buckle news, SVP Brett P. Milkie sold 16,000 shares of Buckle stock in a transaction on Friday, September 6th. The stock was sold at an average price of $41.35, for a total value of $661,600.00. Following the completion of the sale, the senior vice president now owns 80,170 shares of the company’s stock, valued at approximately $3,315,029.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Dennis H. Nelson sold 15,340 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $37.80, for a total value of $579,852.00. Following the completion of the transaction, the chief executive officer now directly owns 1,950,377 shares of the company’s stock, valued at approximately $73,724,250.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 100,346 shares of company stock valued at $4,126,478. Corporate insiders own 39.80% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Buckle by 0.6% in the first quarter. Vanguard Group Inc. now owns 4,311,848 shares of the company’s stock worth $173,638,000 after purchasing an additional 24,051 shares during the last quarter. Pacer Advisors Inc. grew its stake in shares of Buckle by 4.5% in the 2nd quarter. Pacer Advisors Inc. now owns 2,100,398 shares of the company’s stock worth $77,589,000 after buying an additional 90,190 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of Buckle by 2.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,341,866 shares of the company’s stock worth $49,566,000 after buying an additional 29,349 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of Buckle by 30.3% in the 4th quarter. First Trust Advisors LP now owns 768,177 shares of the company’s stock worth $36,504,000 after buying an additional 178,794 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Buckle by 2.2% during the 2nd quarter. Victory Capital Management Inc. now owns 736,132 shares of the company’s stock valued at $27,193,000 after buying an additional 16,077 shares in the last quarter. Hedge funds and other institutional investors own 53.93% of the company’s stock.

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.